In 1988 The European Council from Hanover has founded a committee leaded by Jacques Delors, president of The European Committee about that time, with the task of formulating proposals concerning legislative and economic arrangements necessary to finish The Economic and Monetary Union. Delors...

Comparative management literature emphasizes the following models: Farmer-Richman Model (based on the assumption that environment represents the main factor whom influence upon management is decisive); Rosalie Tung Model (using the following variables:environment,or extra-organisational...

Culture is always considered as a collective phenomenon and all individuals living in the same social environment accept it, at least partially. Culture as collective programming of mind distinguishes the members of a group from another. Corporate culture must be in accordance with national...

Dynamic programming is a method of solving a class of optimizing problems of a special type whose mathematic model belongs to the category of the so-called sequential processes. These processes have as a main characteristic the fact that within their structure one may delineate (although...

Budgetary control in a “Just In Time” environment is based on a new industrial organization, with only two levels of authority: workshops or homogeneous work units and budgetary centers. Each budgetary center generates it’s own costs and responsibilities and refers only to these. The...

A compared management study involves the following stages: establishing the research’s goals; specifying the themes; sampling; translating the materials; measuring and instrumenting the management processes; conducting the study to get answers to similar situations in different cultures;...

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...

We study a continuous-time game of strategic experimentation in which the players try to assess the failure rate of some new equipment or technology. Breakdowns occur at the jump times of a Poisson process whose unknown intensity is either high or low. In marked contrast to existing models, we...