Macedonian economy has been an underdeveloped economy for a number of years. Formal aspects of the organizational culture were not introduced in the local organizations. However, through the decades, the concept of strong culture, based on the values of the leaders, has been present. The goal of...

Management scientists have been trying to identify the impact of various external and internal aspects on organizational effectiveness and efficiency. Some of them focused on cultural, psychological and “internal sociological issues, others on environmental issues, market trends, and strategic...

The concept of job satisfaction has intrigued a debate that has extended outside the academic community and into the business and government sphere. Both academics and public managers agree that the existence of participative management improves job satisfaction of public administration...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...