Birth and death may be a better model than Brownian motion for many physical processes, which real options models will increasingly need to deal with. In this paper, we value a perpetual American call option, which gives the monopoly right to invest in a market in which the number of active...

Today rural sector reform is a paramount issue in Indonesian development. Yet, different social actorshave different perspectives and stances towards it. Non-Government Organisations (NGOs) inIndonesia have established themselves in pivotal positions in the social, economic and...

This paper investigates the relationship between a CEO’s social network, firm identity, andfirm performance. There are two competing theories that predict contradictory outcomes.Following social network theory, one would expect a positive relation between social networksand firm performance,...

This paper addresses deinstitutionalisation from a longitudinal perspective. Drawing onthe case of software exports policymaking in Costa Rica, it analyses persistence andchange paying particular attention to formation of dissensus, understood as lack ofunanimity on the value of an activity that...

This paper investigates the processes by which scientific knowledge is created andlegitimized. It focuses on scientific developments in a branch of medicine and exploresthe pathways through which the growth of knowledge enables advances in medicalscience and in clinical practice. This work draws...

Our contribution to the expanding literature on the globalization of research andinnovation is to investigate the extent to which sector-specific developments in anemerging technology (such as increasing interdisciplinarity and complexity) affectinventive activities developed abroad. We look at...