This paper studies how the interplay between the cycle and firm-specific characteristics (firm size and exporting activities) shapes firms' choice between exploratory and exploitative innovation investments. We analyze the PITEC database, a panel of Spanish firms in manufacturing and service...

Whereas labor markets are traditionally viewed as machine-like environments - where agents, coordinated by price signals, solve constrained optimization problems or adhere to established heuristics - this paper views labor markets as human ecosystems, containing living things, namely, the human...

This paper extends the post-Keynesian model of the firm to an open-economy context to investigate the determinants of firms' target profit rates in developing and emerging economies (DEEs) and the ways in which these rates have been affected by the financialisation phenomenon. Our findings show...

This paper investigates the formation of production and trading networks in economies with general interdependencies and complex property rights. We argue that the right to exclude, a core tenet of property, grants asset owners local monopoly power that is amplified by an economy's endogenous...

The Corporate Social Responsibility (CSR) theory of the firm states that, in strategic markets, social actions lead to a prisoner's dilemma. This paper develops a model with pollution externalities and environmental taxation to incentivise firms' abatement activities through green R&D...

Casual observation suggests that cultural differences play an important role in business transactions, yet systematic evidence on this relationship is scarce. This paper provides a novel investigation of the effect of cultural distance on multinational firms’ decisions to integrate their...

This paper is a continuation and completion of my article “Revisiting Cournot and Neoclassical Economics” (Nomidis 2023). It continues the search for the reasons that led Cournot and later Neoclassical theorists to consider an infinite number of minimal-size firms as a necessary condition...

We constructed a quasi-natural experiment based on the differences in the severity of PM2.5 on the two sides of the 800mm isoline according to the actual distribution of precipitation gradients in China to examine the effects of PM2.5 on corporate evolution and explore the effect of governance...

In the property rights approach to the theory of the firm, ownership matters if parties have to make partly relationship-specific investments, but ownership would be irrelevant if the investments were completely relationship-specific. We show that if negotiations after the investment stage...

A theory helps us to see the world better and ask better questions. In this paper, the Pragmatic Theory of the Firm clarifies the firm’s purpose and showcases the benefits of viewing a firm as a holistic system in which knowledge building is the critical determinant of long-term performance....