The paper investigates the impact of corporate governance on the performance of 361 German corporations over the time period 1991 to 1996. We find ownership concentration to affect profitability significantly negatively. Representation of owners on the board of executive directors does not make...

This research finds the effect of financial leverage on efficiency of firms in Pakistan. The ordinary least square technique is used to detect efficiency of financial leverage of 154 textile firms in Pakistan over the period 2006 - 2011.The regression results indicate that leverage has s...

The main contribution of entrepreneurship theory to economics is to provide an account of market performance in disequilibrium but little empirical research has examined firm entry and exit in this context. We redress this by modelling the interrelationship between firm entry and exit in...

The purpose of this study is to examine how the promotion of active participation and teamwork within the firm contribute to business success and consequently helps firms to gain a competitive advantage. Initially, the emphasis is placed on employee participation approach, its characteristics...

An extensive empirical literature in strategy and finance studies the performance implications of corporate diversification. Two core debates in the literature concern the existence of a diversification discount and the relative importance of industry relatedness and market structure for the...

This paper investigates the effects of board of director collusion on managerial incentives and firm values. Recent academic research hints at the social network of board of directors as an important conduit for coordinating corporate governance policies, such as managerial pay, and curbing...

This paper uses a novel manufacturing firm-level survey data in 19 sub-Saharan African (SSA) countries to explore the linkages among a number of export-market destinations (e.g., China, India, other Asia, EU, US, MENA, SSA excluding South Africa, and South Africa) and performance. The paper also...

This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics. The benefit of our model is twofold. First, to discriminate between entrants’ role of performing the entrepreneurial function of creating disequilibrium and the conventional...

A recent literature has emerged providing compelling evidence that a major shift in the organization of the developed economies has been taking place: away from what has been characterized as the managed economy towards the entrepreneurial economy. In particular, the empirical evidence provides...

Recent studies show that the likelihood of survival differs significantly across firms. Both firm and industry characteristics are hypothesized to account for this heterogeneity. Using a longitudinal database of manufacturing firms we investigate whether firm or industry characteristics...