This paper develops a theoretical analysis of performance measurement systems (including related accounting standards) and the composition of the Board in the context of business models driven by complementarities, innovation and intangibles. Performance management systems frame and shape the...

In 1960, Ronald H. Coase famously addressed the problem of externalities - actions of business firms that have harmful effects on others - or, as he renamed it, “the problem of social cost.” This problem occurs under every joint economic activity (including business firms) having reciprocal...

Lynn Stout's paper on Risk, Speculation, and OTC Derivatives: An Inaugural Essay for Convivium develops an insightful legal-economic analysis of speculative trading. From one hand, the paper discusses the legal-economic framework of speculation and its recent transformation, making reference to...