Field experiments have variously discovered that modern management practices enhance productivity, but not all firms adopt such practices. In this study, we examine private bond contracts used by the public house operators to explore if such variations are due to the differences in the types of...

Traditional analyses of bonuses have focused on performance measures such as output or profit as the sole determinant of bonus pay plans. However, companies now use bonuses for a variety of purposes, including employee recruitment and retention and to obtain better outcomes in quality and...

The paper examines the relation between forms of financing and the level of expenditure on research and development (R&D). The paper shows that the probability of issuing new equity rises monotonically with the level of expenditure on R&D, whilst the use of debt finance follows an inverted U...

Whole business (WB) securitization is a corporate fundraising strategy that allows companies to realize the full value of their operating assets in cooperation with their stakeholders. In a WB securitization, the company raises funds by issuing securitization bonds backed by its operating...

The growth of shareholder value has been a major change in Western economies since the 1980s. This growth has reignited debates concerning relations between investors and managers. This book argues that investors are more than passive providers of finance, on whose behalf managers seek to...

Institutional variables are important in explaining the success or failure of a project, especially in terms of sustainable outcomes. Specific measures are thus needed to develop institutional capacities in projects and this paper aims to explain the appropriate relationships in the context of...