By building on theoretical work by Mills and Schumann (1985) and Ungern-Sternberg (1990) this paper provides evidence on the determinants of two dimensions of flexibility, the flexibility in adjusting aggregate output over time (tactical flexibility) as well as the ability to switch quickly...

A fundamental requirement of market economies is the security of ownership claims to property. Yet history is littered with cases of challenges to these claims. A large literature has found contradictory evidence for the effect of income and income inequality on revolt, possibly due to omitted...

Intrinsic motivation of workers may arise from different individual motives. While some workers care about the mission of an organization and derive an intrinsic benefit from advancing this mission ("good" workers), others derive pleasure from some form of destructive or anti-social behavior...

The paper studies the link between the integration of European financial markets and corporate governance in Europe. The focus of the paper is on how integration affects the interplay of ownership structures, capital structures, and monitoring, all of which can be used to govern agency problems...

The paper deals with the significant impact of location on innovation activity that has been found in many empirical studies. Main elements of such an explanation are the specific problems of a division of innovative labor. Based on an outline of these issues the concept of a regional innovation...

This paper describes psychological contracts and how they are created. Even though the phenomenon of the psychological contract can be observed in a variety of relationships, this paper solely discusses psychological contracts in business settings. The paper discusses in particular how...

In many situations the individuals who can generate some output must enter a contest for appropriating this output. This paper analyses the investment incentives of such agents and the role of incumbency advantages in the contest. Depending on the advantages, an increase in the productivity of...

Flexibility in response to competitive pressure from globalized markets and increasingly individualized customer desires has become vital for firms. A common strategy to address this challenge is to employ a dynamic concept of organization and reach beyond the boundaries of the firm....