In this paper we theoretically and empirically examine how the interaction between the formal court system and the informal loan network affects a household's decision to start a business. We find that when the formal court system is weak, expansion of informal credit network leads to the...

Parties often regulate their relationships through “continuing” contracts that are neither long-term nor short-term but usually roll over. We study the trade-off between long-term, short-term, and continuing contracts in a two period model where gains from trade exist in the first period,...

Through the organization and operation of public administration in Romania, based on the fundamental and legal principles, an environment is created which is adequate for the development of tighter relationships between the citizens and the local authorities they elect to timely meet the needs...

Do contractual frictions matter when firms are engaged in repeated interactions? This paper argues that long-term relationships, which allow firms to (partly) overcome the static costs associated with low contractibility, will under certain circumstances create dynamic inefficiencies. We...

DynCorp International, LLC, a U.S. company, and Aramco, a Saudi-owned corporation, entered into a contract for a computer system which was to be manufactured in the U.S. and installed at Aramco’s facilities in Saudi Arabia. The contract contained a choice of law provision requiring the...

Adoption of cloud-based systems has been relatively modest—regardless of significant marketing push by major public cloud providers. The cloud-based model utilizes distributed information technology services accessible over networks. The networks can be internal part of...

Cloud computing adoption by organizations has been minor despite the initial optimism. The primary concerns obstructing adoption of cloud-based services are security, loss of control, and inadequate legislative. In a cloud-based model, information technology services are distributed and accessed...

Since the last quarter of 2001 the United States Agency for International Development (USAID) has significantly increased its role in reforming higher education in Pakistan. This paper examines USAID’s work in the development of Higher Education. Moreover, the paper discusses recent and...

The strike is an important part of the process of resolving interest conflicts, Basically, the right to collective bargaining would have no real content, outside the right to strike. European Social Charter considers the right to strike as a means of ensuring collective bargaining. The right to...

Several top deals already closed, a still highly fragmented industry and strong pressure for further consolidation following the financial crisis - renewable energy certainly has become a red-hot topic in M&A. Surveying 220 companies in the solar photovoltaic, utility and financial sector as...