In environments with widespread corruption, most business leaders hesitate to take a firm stand against corruption. However, research conducted in Egypt, Zimbabwe, and India shows that organizations should view building a strong ethical reputation in such environments as an opportunity to...

Preface1. PrimerPart 1: Motivation1. Introduction: A pluralistic approach to entrepreneurship research2. The Sciences of the Artificial (Herbert A. Simon) 3. Three Varieties of Knowledge (Donald Davidson)4. The Market as a Creative Process (James M. Buchanan and Viktor J. Vanberg)Part 2: Maker5....

How does a large corporation rethink and transform itself in an increasingly competitive environment? This corporate-strategy case could be described as how PepsiCo stopped worrying about competing with Coke and figured out what its real business was and how to build its future. A new CEO wants...

The normative foundations of the investor centered model of corporate governance, represented in mainstream economics by the nexus-of-contracts view of the firm, have come under attack, mainly by proponents of normative stakeholder theory. We argue that the nexus-of-contracts view is static and...

We examine changes in trading activity around stock splits and their effect on volatility and the adverse-information component of the bid-ask spread. Even after controlling for microstructure biases, we find a significant increase in volatility after the split. Changes in total volatility and...