We analyze the respective influence of employee and shareholder interests on the dismissal of 89 Chief Financial Officers (CFOs) of major German companies between 1999 and 2006. Drawing on stakeholder-agency theory, we argue that employees wield sufficient power to affect executive replacements....

The concept of complementarity and its role in the design of organizations has enjoyed increasing attention over the past twenty years. We provide a systematic review of the empirical studies on complementarities in leading journals in management, economics and related disciplines that considers...

This paper traces (a) the impact of credit expansion on inflation and (b) the impact of inflation on the real liquidity of households and enterprises. From April 1992 to September 1993 households paid an inflation tax equal to 13.3% of GDP and received almost no new credits. Enterprises received...

Open unemployment in Russia has been growing very slowly - by only about 1 percentage point a year. This is mainly because of a degree of wage flexibility unknown in the West. Comparing industries over a two year period we find that, if relative employment fell by 10%, relative wages fell by...

We investigate the relative importance of organizational and decision-specific factors that shape decision-making processes as antecedents of consistency between corporate strategy concept and individual resource allocation decisions. Our empirical study examines the Swiss pharmaceutical...

We analyze the importance of both the level and the type of two critical dimensions of human capital for the performance of management consultants, namely education and experience. We use both qualitative and quantitative data on client ratings of the performance of 50 senior management...

The paper provides an overview of qualifications in the German construction workforce and draws comparisons with the situation in the British construction industry. The German system of general education and vocational training is outlined. Data from a variety of sources are used to describe...

Summary We investigate the relationship between the knowledge requirements of projects and clients' decisions whether to procure services from external management consultants for the execution of these projects. Using data from interviews with client decision-makers regarding the execution of 86...