Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and growth of principals, in the context of...

How does your company ensure the effectiveness of its research and development (R&D)? There is, of course, no easy or foolproof way. US firm Westinghouse believes that assessment by the businesses of R&D’s performance against ambitious, quantifiable and mutually set objectives is crucial. But...