This paper examines an economic theory of when employees become entrepreneurs. It jointly addresses the two fundamental questions of when employees generate innovations, and whether these innovations are developed as internal ventures or outside the firm. The model shows that if generating...

In a recent article, Oviatt and Bauerschmidt (1991) investigated risk-return relationship by employing the square root of the mean square error of returns as a measure of risk and found no significant relationship existed in those terms. Ruefli (1991) has suggested that under the assumption of...

This paper presents a model of the strategic process concerning entrepreneurial activity in large, complex organizations. Previous empirical and theoretical findings can be integrated in this new conceptual framework. The paper makes the following key points. First, firms need both diversity and...

To achieve strategic goals and success in the long term, every organization needs to be in a good state of health. It is argued that the strategic health of an organization depends on how the key strengths are leveraged to exploit prime opportunities, while at the same time, minimize exposure of...

Previous results on nonlinear risk-return associations, predicted by prospect theory, are replicated with mean quadratic differences instead of variance as a measure of risk. In contrast to assumptions of these studies, results with a sample from the COMPUSTAT-database provide evidence that at...

The Sustainability of fiscal policy is one of the key concerns of each state, especially in periods of macroeconomic imbalance. This study aims to explore the concept of sustainability of Romanian’s fiscal policy. The analysis starts from the definition of sustainability of fiscal policy and...

The paper focused on building a quality management model able to bring together the two main axes of higher education – education and research, and to ensure the quality continuous improvement from the perspective of the main two actors directly involved in these processes: students and...

In this paper we present some considerations about management in insurance companies during the present economic recession. The insurance companies are important players of the financial market, serving a number of economic functions, such as allowing risk transfer, helping companies and people...

Over the last decade, the external environment of insurance sector had significantly changed, becoming very instable and complex. In these circumstances, we believe that the proper managerial approach, not only for anticipating the future problems, opportunities and threats but also to improve...

This paper examines competitive dynamics, industry cycles, and financial performance in emerging and industrialized country markets through the lens of the integration-responsiveness framework in the global information technology industry in Taiwan and the global construction equipment industry...