The article presents an original research on 1) the information theory of the board of directors and 2) the strategy creation by the interlocking interconnecting directors in the boards of directors in the firms in an information century. We review the possible structures of the board of...

This research focuses on the ultimate impact of hedging effectiveness on firm performance. Successful risk management in firms should lead to a lesser occurrence of lower business outcomes than higher outcomes (e.g., positive skewness in quarterly earnings per share). We empirically estimate the...

The article formulates the information theory of firm, introduces the concept of firm as an operating system, which controls the firm’s operation by the means of the information resources processing, in an analogy with the operating system at a microprocessor in the computing devices,...

The "big-bang" liberalization of the inefficient Russian economy in 1992 provides a fruitful setting for analyzing the impact of several dimensions of market competition and other factors on enterprise efficiency. We analyze 1992-1998 panel data on 14,961 enterprises covering 75 percent of...

We analyse patterns of convergence (divergence) across euro-area countries in manufacturing since monetary union and find that not only costs, but also profitability have followed divergent paths. We further find that profitability developments only partially overlap with those of unit labour...

This article examines the issue of determining long-term sustained superior financial performance. We demonstrate that the technique of frontier analysis is a robust and theoretically consistent way to identify relative performance. We show how our approach, addresses the three critical issues...

We separately observe variable input expenditure and expenditure on fixed inputs in novel firm-level data covering the Belgian manufacturing sector over the last decades. This permits a deeper investigation of two potential drivers of the globally observed widening gap between firms' revenue and...

Empirically-documented associations between network position and organizational performance could be driven by unobserved resources. I study this issue theoretically, by developing an equilibrium model of inter-firm network formation. Specifically, I investigate how an organization's resource...

Existing research on ecosystems is overly descriptive and structural. While description and structure are important, in this essay we argue for a microanalytic and firm-specific approach to ecosystems. We focus on the “hypothesis-led” firm—the role that a firm-specific hypothesis plays in...

A perusal of the literature shows that a broad frame of references for organizational success is not adequately developed. Therefore, by taking an interdisciplinary approach with a relational perspective, this study takes an integrative and fresh approach toward illuminating the moderate role of...