We propose two theories for the formation of stock prices under the condition that the number of available stocks is fixed. Both theories consider the balance equations for cash and several kinds of stocks. They also take into account interest rates, dividends, and transaction costs. The...

Firms in emerging markets are particularly challenged by uncertainty and equivocality in their long-term oriented decision making. These markets are characterized by dynamic institutional contexts especially affecting the predictability of future developments in the business environment. Based...

Emerging markets and transition economies challenge established business theories. In this paper, we conceptualise a framework incorporating the institution– and resource–based view to analyse how institutions impact the operations of western companies in a transition economy context:...

The importance of purchasing and supply management (PSM) for corporate success has received a great deal of attention in recent years. Most research in this area has investigated PSM's contribution to the firm by directly linking its practices to corporate performance. In this paper, we develop...

Purchasing and Supply Management (PSM) today is increasingly becoming more important to senior management due to its potential to strategically influence both operational performance as well as financial performance outcomes. However the cross-functional nature of many PSM activities has led to...