Do financial crises have an impact on trade flows via a shock to corporate risk or to bank risk? Focusing on Italy's exports during a period characterized by both the global financial crisis and by the sovereign debt crisis, we exploit the prediction of standard trade models according to which...

We are no longer an industrial economy characterized by assembly lines; we are now in a knowledge economy where creativity is what matters and the old ways of running a firm simply do not work. Using the value of the stock as a way of measuring CEO performance makes no sense and can actually...

This paper examines four terms that are used a great deal by economists and demonstrates that they are often misunderstood. Not fully comprehending the meaning of these terms can result in serious problems for society. Thus, Greenspan admitted that not knowing how self-interest works resulted in...

Organizations that succeed in the Information Age/Age of Internet and Globalization will have to be innovative and adapt quickly to changing market conditions. Approaches that worked in the past no longer work when competition can come from anywhere in the world and any industry. This paper...

We live in a VUCA world with an environment that is volatile, uncertain, complex, and ambiguous. The coronavirus pandemic illuminates what happens to a firm or industry that lacks organizational agility and responds slowly to threats. Even before COVID-19, thanks to globalization, the internet,...

The world today is experiencing a leadership crisis. One thing is evident: The leadership style that worked in the industrial economy will not work today where integrity and creativity are crucial if an organization is to thrive. We live in an information/knowledge economy defined by...

In a segmented waiting-line system, customers are segmented into two groups: those who are willing to wait for service and those who are willing to pay a premium to avoid a long wait. The use of waiting line segmentation has been shown to result in increased profit for the company or...

A number of leaders have been able to bounce back from major scandals. These include such political personalities as Barney Frank, Bill Clinton, David Vitter, and Mark Sanford. Clearly, a big scandal does not have to result in the end of one’s career. Currently, two well-known disgraced New...

Much can be learned from negative leadership, possibly even more than from positive leadership. This paper examines the statements of one of the world’s most notorious leaders, Adolf Hitler, to see what can be learned about leadership. An examination of these quotations will make it quite...

Scholars are noting a change in the way business is being conducted. Many firms -- one scholar estimates the number at 15% -- are concerned about values rather than focusing exclusively on maximizing profits. This new kind of capitalism considers factors such as societal needs, quality, needs of...