Corporate financial economic programs are almost universally featured in economics and management degrees and, therefore, are an essential component of the culture-building process for current and future economists and managers. Nevertheless, these programs are not restricted to financial...

To understand why some patents get licensed and others do not we estimate a portfolio of firm- and patent-level determinants for why a particular licensor's patent was licensed over all technologically similar patents held by other licensors. Using data for licensed biopharmaceutical patents, we...

According to New Institutional Economics, two or more individuals will found an organization, if it leads to a benefit compared to market allocation. A natural consequence will then be internal rent seeking. We discuss the interrelation between profits, rent seeking and the foundation of...

Over the years since airline deregulation five of the remaining U.S. legacy carriers lost money on mergers that cost them a total of $29.6 billion. The combined market cap of these carriers at the end of 2007 was $15.5 billion. In other words, their return on merger investments was -48%. Why?...

This paper provides theory and evidence about how vertical collaboration between an integrated firm and a focused supplier enhances the market performance of knowledge-based products. We posit that, when downstream commercialization is concentrated relative to upstream product development,...

The modern world, marked by the phenomenon of globalization and the continuous change, represents a real challenge for the educational system. As the human resources are the most important creational force of value in the work process, a specific attention must be given to the mission statement...

This paper investigates the companies' behavioural response to information-based environmental policies. We perform a panel analysis for 39 big companies in 16 countries, in 3 polluting industries (oil & gas, chemicals, power generation) over a 5- year period (1993-1997) to check whether...

The paper discusses what has been achieved by one German and two Anglo-Saxon approaches to services with reference to the concept of service, the analysis of service economies, and the tasks which evolve from that for the further development of marketing theory. It addresses three approaches to...

Although antitrust courts sometimes stress the competitive process, they have not deeply explored what that process is. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers forming improving coalitions. Much of antitrust can be...

Within a production theoretic framework, this paper considers an axiomatic approach to benchmark selection. It is shown that two simple and weak axioms: efficiency and comprehensive monotonicity characterize a natural family of benchmarks which typically becomes unique. Further axioms are added...