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For quite a while, in the second half of the 20th Century, Albania was considered the possibly most radical communist country, even beyond Mao's China, and was an isolated country in Europe. Then, after the fall of the Berlin wall, it evolved towards some form of western capitalism, which is...
Persistent link: https://www.econbiz.de/10012898712
Control systems are a fundamental tool in the management process. Management control systems have been judged using the criterion of goal congruence - that is, to what extent the possible rewards given to people when they take specific actions benefit at the same time individuals and the...
Persistent link: https://www.econbiz.de/10013011060
Accounting systems are an essential tool for providing information for decision-making intended for the survival of the firm in the long run, which will benefit the different stakeholders of the firm (if managed properly) and society in general. Of course, the financial function and the...
Persistent link: https://www.econbiz.de/10013011348
In the last few decades, there has been some concern about forms becoming less and less “human”. Or, in other words, becoming a place where human beings cannot self- actualize, where they are only pieces of a puzzle or “adjuncts to machines”. This paper intends to review briefly the...
Persistent link: https://www.econbiz.de/10012828160
This paper is an attempt to set up a more general formulation of the principal-agent model that can accommodate these organizational situations, rather common in the world of business management, for the purpose of deriving useful propositions about both organizational design and the process of...
Persistent link: https://www.econbiz.de/10012791489
Persistent link: https://www.econbiz.de/10011660169
Persistent link: https://www.econbiz.de/10011660269
Economics-based models typically overlook management decisions and firms' capabilities. We develop a model that puts firms at center stage by simulating the aggregate behavior of a population of firms resulting from specific management decisions. The model features a learning process that...
Persistent link: https://www.econbiz.de/10010548513
The main objective of the firm in economics-based models is to maximize profit. Dropping this objective in order to make the models more realistic complicates the analysis and is seldom done, thus leaving management action out of the picture. In this paper we try to understand how management...
Persistent link: https://www.econbiz.de/10008751317
At the end of the first decade of the 21st century, a disastrous world economic crisis is creating a very difficult situation for many people. The causes of the crisis are many and complex. The reigning economism looks for mechanical causes (excessively low interest rates, "herd" behavior in the...
Persistent link: https://www.econbiz.de/10008751320