We have conducted the first survey on management practices in transition countries. We found that Central Asian transition countries, such as Uzbekistan and Kazakhstan, have on average very poor management practices. Their average scores are below emerging countries such as Brazil, China and...

In infant industries, a great share of new market opportunities is depleted by firms that spinoff from incumbents. A model emphasizing the relation between incumbents' evolving corporate cultures and the generation of spinoffs explains this regularity in industry evolution. Organizations reach a...

Utilizing a case study methodology, this study investigates ways in which fast growth small-to-medium enterprises (FGSMEs) measure firm performance. This investigation, involving 21 interviews with 18 companies, revealed that FGSMEs seem to adopt a multi-level approach involving different...

We examine firms’ motivation to change their main bank and how this switch affects loans, interest payments, and firm performance. Applying treatment effect analysis to unique firm-bank matched Ukrainian data, we find that larger and more highly leveraged companies are more likely to switch...

The view that profitability, not growth, is the main driving force behind the firm performance, and unprofitable high growth can not lead to financial success has often been discussed in the literature. In this study, I tested this hypothesis on Turkey’s top 1000 data using an extended version...

Chairman statement in the corporate annual report is classified as narrative accounting and until today it remains as voluntary disclosure. Without guidelines by the accounting standards setters and close monitoring by the regulators, it is hypothesised that company management may exaggerate the...

When the source of external capital for Continental European firms is examined, debt markets have historically supplied a much larger percentage of the external capital than equity markets, and firms rely much more on bank debt than bonds for their external funds. In this environment banks have...

This paper explores the idea of strategic navigation as a flexible approach to managing organisational performance and dealing with environmental turbulence. Strategic navigation expands and builds on the traditional concept of strategic control and could be used to help guide the design of more...

Although prior studies provide evidence that investment in research and development (R&D) expenditure enhances a firm's performance, very little evidence is available on the impact of a firm's life cycle stages on the association between R&D expenditures and firm performance. We classify firms...