In the present paper we concentrate on the interaction and sharing of the information between the organized markets in the Czech Republic. Moreover, the interesting principal-agent problem between the Prague Stock Exchange (PSE) and RMS (over the counter system) is studied to identify the...

I develop a theory of radical change using longitudinal cases from central Europe. Radical change is a process by which firms regain competitive advantage after it has been lost. Change depends upon the firm's resources and capabilities; its competition; and its leadership. New core values...

We construct an agency model in which the planner (agent) makes project starting and termination decisions on behalf of the state (principal) to reflect the practice of socialist economies. The model shows that asymmetric information between the state and the planner regarding the quality of...

A large number of countries have recently experienced competitive shocks: sudden increases in the role that market forces play in determining the evolution of various industries. In this paper, we study the implications of Poland's competitive shock for three elements of the structure of that...

The aim of this paper is to review the business and cultural challenges of applying Western change management philosophies and practices and to report about relevant firm level experiences observed within the transition period toward a market economy. The authors identify trends in the actual...