Since the beginning of the global financial and economic crisis, the search for its causes has been in full flight on both sides of the Atlantic. Inter alia, fundamental failures in the evaluation of risk and the role that Credit Rating Agencies (CRAs) play in the assessment of credit risk are...

Purpose – The aim of this paper is to propose an integrative framework of organizational decline on the firm-level. Design/methodology/approach – In recent years, there has been a growing number of contributions to the research field of organizational decline from diverse theoretical...

This paper aims to achieve more insight into the complex interplay between the “external” market regulations and “internal” regulations (corporate governance) of energy firms. In recent years, many countries have deregulated the incumbent energy monopolies and have introduced new modes...

In the resource-based view of strategy and in evolutionary economics, complementary assets play a crucial role in explaining sustainable competitive advantages and innovations. Despite the apparent importance of complementary assets for the understanding of corporate strategy, their creation and...

This paper forms part of a series of nine studies on the role of the European Union in international economic fora, prepared by Policy Department A at the request of the Committee on Economic and Monetary Affairs of the European Parliament. It provides factual background information about the...

From the viewpoint of Public Choice theory, the logic of electoral competition makes it difficult for rational, self-interested politicians to advance unpopular reforms. As political decision-makers have primarily the aim of re-election in mind, 'inconvenient' scientific policy advice often...

Often, religion, law and tradition co-evolve. Religious precepts shape social practice, which translates into law. Yet this harmony is not universal. The Sharia guarantees daughters their share in the family estate. Yet in Pakistan, this rule clashes with tradition. While the country was jointly...