This paper sheds light on the coherent nature of the diversification process of firms through mergers and acquisitions, and analyses the reasons why firms tend to include related activities in their production portfolios. Based on Penrose's ideas, it argues that even through M&A transactions,...

The new basic conditions of energy industries – depicted by the deregulation process, technological innovations, and maturity of network industries in the industrialised countries – promoted the transformation, on the international level, of the energy sector's industrial...

Between 2003 and 2008 productivity patterns diverged between the fast growing, newest members of the European Union and the slower paced, elder ones – as would be expected. However, there are also striking divergences within the latter group, with productivity in Southern Europe going into...

This paper examines whether natural resource dependence has a negative influence on various indicators of institutional quality when controlling for the potential effects of other geographic, economic and cultural initial conditions. Analysis of a panel of countries from 1996 to 2010 indicates...