Companies' emissions-reducing R&D investments increase in response to Schumpeterian competition-R&D rivalry among large firms-in the context of evolving emissions regulation. Estimation supports a theoretical role for emissions standards: to reduce negative externalities caused by hazardous air...

Evidence suggests that Japan's basic research levels seem to lag behind that of the USA. This paper seeks to investigate (1) the reasons for this difference in the context of societal impact on the creation of intellectual products, (2) the influence of the different legal systems as they relate...

In the wake of numerous hostile corporate takeover attempts in the 1980s, many states enacted antitakeover legislation, often as a direct response to a particular takeover effort in the specific state. A number of empirical studies assess the impact of such statutes on firm value using...

One of the fundamental purposes of corporate accounting is to facilitate the monitoring of managers. Since managers are instrumental in the production of accounting numbers, and since it is costly to monitor their behavior in this regard, firms sometimes report fraudulent accounting numbers....

This paper's empirical results indicate that the average effect of antitakeover provisions on subsequent long-term investment is negative. The interpretation of these results depends on whether one thinks that there was too much, too little, or just the right amount of long-term investment prior...

In reviewing Matt Ridley's The Origins of Virtue we do five things. (1) We discuss and challenge the basic assumptions of the Standard Social Sciences Model which permeates management scholarship. (2) We present some alternatives to this model, particularly evolutionary psychology. (3) We look...

The question of whether there is a tendency for regional convergence has become a central topic for economic research. This paper considers the issue of convergence across Greek regions, following the theoretical basis of the neoclassical model of economic growth. Our analysis finds no evidence...

It is well known that many of the manufacturing practices advanced in Japan in the 1970s and 1980s emphasize bottom-up decision processes characterized by teams, the empowerment of multi-skilled workers on the shopfloor, demand-pull and horizontal decision mechanisms. These practices include...

This paper examines the transition of economies of Albania and the Czech Republic, noting that their relative failure and success could have been predicted by academic literature. Financial intermediation theory predicted the rise of independently created mutual funds in the Czech Republic,...