Silvia Fabiani, Claire Suzanne Loupias, Fernando Manuel Monteiro Martins, and Roberto Sabbatini (eds)
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780195309287
- eISBN:
- 9780199783939
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195309287.001.0001
- Subject:
- Economics and Finance, Econometrics
Theoretical research undertaken over the last decades showed that the nature of nominal rigidities plays a key role in determining the effects of different shocks on the economy. This research has ...
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Theoretical research undertaken over the last decades showed that the nature of nominal rigidities plays a key role in determining the effects of different shocks on the economy. This research has made clear that a thorough understanding of the extent and causes of the sluggish adjustment of nominal prices is crucial to the design and conduct of monetary policy. This book presents the main results of a research program undertaken by the Eurosystem central banks on price setting decisions by firms in the euro area. Its objective is to deepen our understanding of the behavioral mechanisms driving agents' pricing decisions, adopting a methodological approach—asking firms directly about how they set the price of their output (their pricing strategies) and why (the rationale of these strategies)—that is particularly well suited for the purpose at hand. The book also compares results for the euro area to similar analyses for other countries and summarizes the main findings of studies based on individual quantitative micro data on consumer and producer prices carried out for most euro area countries. Finally, the book explores the monetary policy implications of the main findings.Less
Theoretical research undertaken over the last decades showed that the nature of nominal rigidities plays a key role in determining the effects of different shocks on the economy. This research has made clear that a thorough understanding of the extent and causes of the sluggish adjustment of nominal prices is crucial to the design and conduct of monetary policy. This book presents the main results of a research program undertaken by the Eurosystem central banks on price setting decisions by firms in the euro area. Its objective is to deepen our understanding of the behavioral mechanisms driving agents' pricing decisions, adopting a methodological approach—asking firms directly about how they set the price of their output (their pricing strategies) and why (the rationale of these strategies)—that is particularly well suited for the purpose at hand. The book also compares results for the euro area to similar analyses for other countries and summarizes the main findings of studies based on individual quantitative micro data on consumer and producer prices carried out for most euro area countries. Finally, the book explores the monetary policy implications of the main findings.
Michael S. Long and Thomas A. Bryant
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780195301465
- eISBN:
- 9780199867288
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195301465.001.0001
- Subject:
- Economics and Finance, Financial Economics
A closely held firm is not a smaller version of a large public firm, anymore than a child is a miniature adult. While realizing that like large corporations, value comes from a business' ability to ...
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A closely held firm is not a smaller version of a large public firm, anymore than a child is a miniature adult. While realizing that like large corporations, value comes from a business' ability to generate future cash flows, this book emphasize the differences between the two. The primary question is does a separate entity exist or is the business just an extension of its principal owner or manager? If yes, how does this business vary from a large publicly traded firm with market and not management control? This book gets to the fundamental differences between the two and the adjustments made to value correctly. It avoids the traditional multiples of earnings or multiple of sales and other cookie-cutter approaches, to focus on the basic ability to create value. The book also avoids specifics in tax laws as they change and vary between countries.Less
A closely held firm is not a smaller version of a large public firm, anymore than a child is a miniature adult. While realizing that like large corporations, value comes from a business' ability to generate future cash flows, this book emphasize the differences between the two. The primary question is does a separate entity exist or is the business just an extension of its principal owner or manager? If yes, how does this business vary from a large publicly traded firm with market and not management control? This book gets to the fundamental differences between the two and the adjustments made to value correctly. It avoids the traditional multiples of earnings or multiple of sales and other cookie-cutter approaches, to focus on the basic ability to create value. The book also avoids specifics in tax laws as they change and vary between countries.
Mark Casson
- Published in print:
- 2001
- Published Online:
- November 2003
- ISBN:
- 9780198297802
- eISBN:
- 9780191596063
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198297807.001.0001
- Subject:
- Economics and Finance, Microeconomics
Offers a vision of the economy as a system of structured information flow. The structuring is effected by institutions, and in particular, by firms, which specialize in processing the information ...
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Offers a vision of the economy as a system of structured information flow. The structuring is effected by institutions, and in particular, by firms, which specialize in processing the information needed to allocate resources properly. Market‐making firms that intermediate between producers and consumers by developing brands, are particularly important in this respect. Firms are the institutional embodiment of the visions of the entrepreneurs who found them. Firms grow and decline, creating a highly flexible structure of information processing in society, which evolves and adapts as circumstances change. The book uses these general concepts to analyse the historical development of a number of specialist information subsystems, including business networks, industrial districts, and trading empires.Less
Offers a vision of the economy as a system of structured information flow. The structuring is effected by institutions, and in particular, by firms, which specialize in processing the information needed to allocate resources properly. Market‐making firms that intermediate between producers and consumers by developing brands, are particularly important in this respect. Firms are the institutional embodiment of the visions of the entrepreneurs who found them. Firms grow and decline, creating a highly flexible structure of information processing in society, which evolves and adapts as circumstances change. The book uses these general concepts to analyse the historical development of a number of specialist information subsystems, including business networks, industrial districts, and trading empires.
Bob Hancké
- Published in print:
- 2002
- Published Online:
- January 2010
- ISBN:
- 9780199252053
- eISBN:
- 9780191719097
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199252053.001.0001
- Subject:
- Business and Management, Political Economy
Between 1980 and 1985, the French economy and industry faced a dramatic crisis; in the ten years that followed, it witnessed a remarkable revival. How did the French economy make this transition? ...
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Between 1980 and 1985, the French economy and industry faced a dramatic crisis; in the ten years that followed, it witnessed a remarkable revival. How did the French economy make this transition? While the state is still an important economic agent in France, and the market certainly has become more central in the organization of the French economy, both state- and market-centred perspectives fail to understand critical elements of this adjustment. Building on the new Varieties of Capitalism approach in political economy, which puts firms at the centre of the analysis, this book argues that the post-war, state-led system changed into a system organized by and around the large firms. Large firms have always been central in the French post-war economic development model. In the past, however, they adapted to patterns set by the central state. By exploiting the possibilities in government policies in different areas such as finance, labour relations, and regional policies, the large firms were able to induce their main interlocutors — the state, banks, labour unions, workers, and small firms — to adjust in a way that was congruent with their own interests. From subservient economic agents, they became the drivers of economic adjustment. Through this case study of readjustment in France, this book offers a critique of neo-institutionalist perspectives on firms. By analysing how large firms in France changed their institutional environment to fit their own needs, this book offers a perspective on the political economy of industrial and economic change.Less
Between 1980 and 1985, the French economy and industry faced a dramatic crisis; in the ten years that followed, it witnessed a remarkable revival. How did the French economy make this transition? While the state is still an important economic agent in France, and the market certainly has become more central in the organization of the French economy, both state- and market-centred perspectives fail to understand critical elements of this adjustment. Building on the new Varieties of Capitalism approach in political economy, which puts firms at the centre of the analysis, this book argues that the post-war, state-led system changed into a system organized by and around the large firms. Large firms have always been central in the French post-war economic development model. In the past, however, they adapted to patterns set by the central state. By exploiting the possibilities in government policies in different areas such as finance, labour relations, and regional policies, the large firms were able to induce their main interlocutors — the state, banks, labour unions, workers, and small firms — to adjust in a way that was congruent with their own interests. From subservient economic agents, they became the drivers of economic adjustment. Through this case study of readjustment in France, this book offers a critique of neo-institutionalist perspectives on firms. By analysing how large firms in France changed their institutional environment to fit their own needs, this book offers a perspective on the political economy of industrial and economic change.
Oliver Hart
- Published in print:
- 1995
- Published Online:
- November 2003
- ISBN:
- 9780198288817
- eISBN:
- 9780191596353
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198288816.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book provides a framework for thinking about economic relationships and institutions such as firms. The basic argument is that in a world of incomplete contracts, institutional arrangements are ...
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This book provides a framework for thinking about economic relationships and institutions such as firms. The basic argument is that in a world of incomplete contracts, institutional arrangements are designed to allocate power among agents. The first part of the book is concerned with the boundaries of the firm. It is argued that traditional approaches such as the neoclassical, principal‐agent, and transaction costs theories cannot by themselves explain firm boundaries. The book describes a theory—the incomplete contracting or property rights approach—based on the idea that power and control matter when contracts are incomplete. If the terms of a transaction can always be renegotiated, the incentives of a party to undertake relationship‐specific investments will depend crucially on the ability to control the use of productive assets when renegotiation takes place. Asset ownership becomes an essential source of power. The theory suggests that firm boundaries are chosen to allocate power optimally among the various parties to a transaction. The foundations of incomplete contracting are also discussed.The remainder of the book applies incomplete contracting ideas to understand the financial structure of closely held and public companies. The analysis illustrates how debt acts as an automatic mechanism to constrain the behaviour of managers or owners of both kinds of companies. In closely held companies, debt can force an entrepreneur to pay out funds to investors rather than to himself. In a public company, ownership is dispersed among small shareholders causing a separation between ownership and control. It is argued that debt and equity choices, capital structure decisions, bankruptcy procedures, corporate governance, and takeovers, play a substantial role in limiting the ability of a (self‐interested) manager to make unprofitable but power‐enhancing decisions.Less
This book provides a framework for thinking about economic relationships and institutions such as firms. The basic argument is that in a world of incomplete contracts, institutional arrangements are designed to allocate power among agents. The first part of the book is concerned with the boundaries of the firm. It is argued that traditional approaches such as the neoclassical, principal‐agent, and transaction costs theories cannot by themselves explain firm boundaries. The book describes a theory—the incomplete contracting or property rights approach—based on the idea that power and control matter when contracts are incomplete. If the terms of a transaction can always be renegotiated, the incentives of a party to undertake relationship‐specific investments will depend crucially on the ability to control the use of productive assets when renegotiation takes place. Asset ownership becomes an essential source of power. The theory suggests that firm boundaries are chosen to allocate power optimally among the various parties to a transaction. The foundations of incomplete contracting are also discussed.
The remainder of the book applies incomplete contracting ideas to understand the financial structure of closely held and public companies. The analysis illustrates how debt acts as an automatic mechanism to constrain the behaviour of managers or owners of both kinds of companies. In closely held companies, debt can force an entrepreneur to pay out funds to investors rather than to himself. In a public company, ownership is dispersed among small shareholders causing a separation between ownership and control. It is argued that debt and equity choices, capital structure decisions, bankruptcy procedures, corporate governance, and takeovers, play a substantial role in limiting the ability of a (self‐interested) manager to make unprofitable but power‐enhancing decisions.
Paul L. Robertson and Gianmario Verona
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780199290475
- eISBN:
- 9780191603495
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199290474.003.0008
- Subject:
- Economics and Finance, Economic Systems
This chapter explores the reciprocal relationship between technological innovation and the boundaries of the firm, and the paths in which firm boundaries might be expected to follow under different ...
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This chapter explores the reciprocal relationship between technological innovation and the boundaries of the firm, and the paths in which firm boundaries might be expected to follow under different circumstances. It argues that while one might follow Langlois (2003) in believing that there will be a tendency for large, vertically-integrated firms to become less common in the technological environment that is currently unfolding, other tendencies will also be afoot, leading to a spectrum of different types of inter- and intra-firm relationships. This includes the creation of new giant enterprises whose evolution in the early 20th century was described by Chandler (1962, 1977) as the imposition of a ‘visible hand’ to reduce uncertainties in market-based relationships.Less
This chapter explores the reciprocal relationship between technological innovation and the boundaries of the firm, and the paths in which firm boundaries might be expected to follow under different circumstances. It argues that while one might follow Langlois (2003) in believing that there will be a tendency for large, vertically-integrated firms to become less common in the technological environment that is currently unfolding, other tendencies will also be afoot, leading to a spectrum of different types of inter- and intra-firm relationships. This includes the creation of new giant enterprises whose evolution in the early 20th century was described by Chandler (1962, 1977) as the imposition of a ‘visible hand’ to reduce uncertainties in market-based relationships.
Ekkehart Schlicht
- Published in print:
- 1998
- Published Online:
- November 2003
- ISBN:
- 9780198292241
- eISBN:
- 9780191596865
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292244.003.0016
- Subject:
- Economics and Finance, Microeconomics, History of Economic Thought
Reviews the thesis outlined in the book. Concept formation and learning are tied up with clarity requirements. Clarification shapes preferences and underlies the behavioural, motivational, and ...
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Reviews the thesis outlined in the book. Concept formation and learning are tied up with clarity requirements. Clarification shapes preferences and underlies the behavioural, motivational, and cognitive tendencies that give rise to property, the law, and the firm as a social institution and account for the way in which the division of labour is organized in society. There is a pervasive mutual interdependency between many features of society that is brought by the tendency towards clarity that underlies the formation and motivational force of custom.Less
Reviews the thesis outlined in the book. Concept formation and learning are tied up with clarity requirements. Clarification shapes preferences and underlies the behavioural, motivational, and cognitive tendencies that give rise to property, the law, and the firm as a social institution and account for the way in which the division of labour is organized in society. There is a pervasive mutual interdependency between many features of society that is brought by the tendency towards clarity that underlies the formation and motivational force of custom.
Mark Fenton-O'Creevy, Nigel Nicholson, Emma Soane, and Paul Willman
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199269488
- eISBN:
- 9780191699405
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199269488.001.0001
- Subject:
- Business and Management, Finance, Accounting, and Banking, Organization Studies
This is a book about traders in financial markets: what they do, the kind of people they are, how they perceive the world they inhabit, how they make decisions and take risks. This is also a book ...
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This is a book about traders in financial markets: what they do, the kind of people they are, how they perceive the world they inhabit, how they make decisions and take risks. This is also a book about how traders are managed — the best and the worst examples — and about the institutions they inhabit: firms, markets, cultures, and theories of how the world works. How these institutions function, how traders are managed, and how traders view the world, all have profound effects on the wider financial environment. This book explores these relationships and their implications theoretically and empirically. The data discussed in this book draw on a three-year project researching the psychological and social influences on the behaviour and performance of traders in investment banks. 118 traders and managers in four leading organizations participated. Data were collected through semi-structured interviews supplemented by questionnaires, measures of personality, risk propensity and a novel computer based measure designed to assess illusion of control and other cognitive biases. The book draws on sociology, psychology, and economics in order to illuminate the work of traders and the world they inhabit.Less
This is a book about traders in financial markets: what they do, the kind of people they are, how they perceive the world they inhabit, how they make decisions and take risks. This is also a book about how traders are managed — the best and the worst examples — and about the institutions they inhabit: firms, markets, cultures, and theories of how the world works. How these institutions function, how traders are managed, and how traders view the world, all have profound effects on the wider financial environment. This book explores these relationships and their implications theoretically and empirically. The data discussed in this book draw on a three-year project researching the psychological and social influences on the behaviour and performance of traders in investment banks. 118 traders and managers in four leading organizations participated. Data were collected through semi-structured interviews supplemented by questionnaires, measures of personality, risk propensity and a novel computer based measure designed to assess illusion of control and other cognitive biases. The book draws on sociology, psychology, and economics in order to illuminate the work of traders and the world they inhabit.
David Coen and Charles Dannreuther
- Published in print:
- 2003
- Published Online:
- November 2003
- ISBN:
- 9780199252091
- eISBN:
- 9780191599224
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199252092.003.0011
- Subject:
- Political Science, European Union
This chapter explores the issue of Europeanization primarily at the horizontal level of European Union (EU) policy formulation and the adaptation and Europeanization of large and small business ...
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This chapter explores the issue of Europeanization primarily at the horizontal level of European Union (EU) policy formulation and the adaptation and Europeanization of large and small business interests in the new opportunity structures of Brussels. The movement of business and other societal interests towards the European level has long been associated with a neofunctional perspective on European integration and societal change. Business interests have always been associated with the changes in policy and polity described by the term Europeanization, begging the question of how does the study of ‘Europeanization’ add to the understanding of European business lobbying. To answer this, the first section of the chapter, ‘Europeanization and the Application to EU Public Policy’ defines what Europeanization is understand to be, and set outs a number of European policy-making process propositions to be explored empirically in the next section ‘The Europeanization of Business Interests in a Differentiated Policy Process’. This section looks at how institutional and organizational capabilities have affected representative ability over time, how firms of all sizes have developed ‘venue shopping’ strategies in a multilevel governance structure, and, finally (in resource dependency terms), how firm size affects the distinct rules and norms of interest representation with the European Commission.Less
This chapter explores the issue of Europeanization primarily at the horizontal level of European Union (EU) policy formulation and the adaptation and Europeanization of large and small business interests in the new opportunity structures of Brussels. The movement of business and other societal interests towards the European level has long been associated with a neofunctional perspective on European integration and societal change. Business interests have always been associated with the changes in policy and polity described by the term Europeanization, begging the question of how does the study of ‘Europeanization’ add to the understanding of European business lobbying. To answer this, the first section of the chapter, ‘Europeanization and the Application to EU Public Policy’ defines what Europeanization is understand to be, and set outs a number of European policy-making process propositions to be explored empirically in the next section ‘The Europeanization of Business Interests in a Differentiated Policy Process’. This section looks at how institutional and organizational capabilities have affected representative ability over time, how firms of all sizes have developed ‘venue shopping’ strategies in a multilevel governance structure, and, finally (in resource dependency terms), how firm size affects the distinct rules and norms of interest representation with the European Commission.
John Kay
- Published in print:
- 1996
- Published Online:
- November 2003
- ISBN:
- 9780198292227
- eISBN:
- 9780191596520
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198292228.003.0009
- Subject:
- Economics and Finance, Microeconomics
Discussing the irrelevance of corporate finance to firm valuation, this chapter provides support for the assertion that the profitability of a business can only be the result of its underlying ...
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Discussing the irrelevance of corporate finance to firm valuation, this chapter provides support for the assertion that the profitability of a business can only be the result of its underlying competitive advantage.Less
Discussing the irrelevance of corporate finance to firm valuation, this chapter provides support for the assertion that the profitability of a business can only be the result of its underlying competitive advantage.
Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0015
- Subject:
- Business and Management, Marketing
This chapter shows how the firm should determine compensation for its managers. It distinguishes between ownership structures (i.e., whether the firm is privately or publicly held), the length of the ...
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This chapter shows how the firm should determine compensation for its managers. It distinguishes between ownership structures (i.e., whether the firm is privately or publicly held), the length of the planning horizons for the owners and managers of the firm, whether the firm is multidivisional or not, whether the firm sells one or multiple products, and how Wall Street's expectations affect decision making by managers. In particular, it shows how marketing-finance fusion allows senior management and the finance department to determine managerial compensation plans in the multiproduct or multidivisional firm.Less
This chapter shows how the firm should determine compensation for its managers. It distinguishes between ownership structures (i.e., whether the firm is privately or publicly held), the length of the planning horizons for the owners and managers of the firm, whether the firm is multidivisional or not, whether the firm sells one or multiple products, and how Wall Street's expectations affect decision making by managers. In particular, it shows how marketing-finance fusion allows senior management and the finance department to determine managerial compensation plans in the multiproduct or multidivisional firm.
Sharan Jagpal
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780195371055
- eISBN:
- 9780199870745
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195371055.003.0002
- Subject:
- Business and Management, Marketing
This chapter introduces key financial tools necessary for measuring the long-run effects of marketing policy under uncertainty. It distinguishes the cases where the firm sells multiple products or ...
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This chapter introduces key financial tools necessary for measuring the long-run effects of marketing policy under uncertainty. It distinguishes the cases where the firm sells multiple products or has multiple divisions. Specifically, it analyzes how the firm can evaluate the effects of strategic flexibility in decision making; in particular, it shows how the firm can use the real options methodology to measure and reward managers so that they focus on long-run performance.Less
This chapter introduces key financial tools necessary for measuring the long-run effects of marketing policy under uncertainty. It distinguishes the cases where the firm sells multiple products or has multiple divisions. Specifically, it analyzes how the firm can evaluate the effects of strategic flexibility in decision making; in particular, it shows how the firm can use the real options methodology to measure and reward managers so that they focus on long-run performance.
Ash Amin and Patrick Cohendet
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199253326
- eISBN:
- 9780191698125
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199253326.001.0001
- Subject:
- Business and Management, Knowledge Management, Organization Studies
This book demonstrates the importance of the role of knowledge in firms and economies. The authors clarify the theoretical debates on the production and use of knowledge in organizations, and examine ...
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This book demonstrates the importance of the role of knowledge in firms and economies. The authors clarify the theoretical debates on the production and use of knowledge in organizations, and examine the challenges that face those managing knowledge at different levels of the organization. They develop the notion of ‘community’ within the context of the firm and explore the ways in which these communities learn and produce new knowledge, positing from this emphasis a challenging model of distributed governance of knowledge within and beyond firms. Using insights from academic disciplines including economics, science and technology studies, cognitive sciences, economic geography, and management science, the authors use analytical argument and empirical cases to develop a new theorization of knowledge formation and management, and in turn a new conception of the firm.Less
This book demonstrates the importance of the role of knowledge in firms and economies. The authors clarify the theoretical debates on the production and use of knowledge in organizations, and examine the challenges that face those managing knowledge at different levels of the organization. They develop the notion of ‘community’ within the context of the firm and explore the ways in which these communities learn and produce new knowledge, positing from this emphasis a challenging model of distributed governance of knowledge within and beyond firms. Using insights from academic disciplines including economics, science and technology studies, cognitive sciences, economic geography, and management science, the authors use analytical argument and empirical cases to develop a new theorization of knowledge formation and management, and in turn a new conception of the firm.
Richard Whitley
- Published in print:
- 2007
- Published Online:
- January 2008
- ISBN:
- 9780199205172
- eISBN:
- 9780191709555
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199205172.003.0009
- Subject:
- Business and Management, Political Economy
This chapter analyses the growing significance of inter-firm networks and project-based firms in many industries, which some claim heralds major changes in dominant economic forms. Rather than ...
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This chapter analyses the growing significance of inter-firm networks and project-based firms in many industries, which some claim heralds major changes in dominant economic forms. Rather than assuming that all such enterprises are basically the same, the chapter distinguishes between four ideal types of project-based firms in terms of the singularity of their goals, on the one hand, and the separation and stability of the division of labour, on the other hand. These ideal types vary in their importance across subsectors with different output characteristics, such as appropriability, modularity, and technological cumulativeness, and processes, such as client involvement. They also are more or less likely to become prevalent in contrasting institutional environments, which means that the establishment of the Silicon Valley type of economic organization as the dominant form is improbable in many societies.Less
This chapter analyses the growing significance of inter-firm networks and project-based firms in many industries, which some claim heralds major changes in dominant economic forms. Rather than assuming that all such enterprises are basically the same, the chapter distinguishes between four ideal types of project-based firms in terms of the singularity of their goals, on the one hand, and the separation and stability of the division of labour, on the other hand. These ideal types vary in their importance across subsectors with different output characteristics, such as appropriability, modularity, and technological cumulativeness, and processes, such as client involvement. They also are more or less likely to become prevalent in contrasting institutional environments, which means that the establishment of the Silicon Valley type of economic organization as the dominant form is improbable in many societies.
Hal S. Scott (ed.)
- Published in print:
- 2005
- Published Online:
- January 2007
- ISBN:
- 9780195169713
- eISBN:
- 9780199783717
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195169713.001.0001
- Subject:
- Economics and Finance, Financial Economics
This book is timely since the Basel Committee on Banking Supervision at the Bank for International Settlements is in the process of making major revisions in the capital rules for banks. It is ...
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This book is timely since the Basel Committee on Banking Supervision at the Bank for International Settlements is in the process of making major revisions in the capital rules for banks. It is important that capital adequacy regulation helps to achieve financial stability in the most efficient way. Capital adequacy rules have become a key tool to protect financial institutions. The research contained within the book covers some key issues at stake in the capital requirements for insurance and securities firms. The contributors are among the leading scholars in financial economics and law. Their contributions analyze the use of subordinated debt, internal models, and rating agencies in addition to examining the effect on capital of reinsurance, securitization, credit derivatives, and similar instruments.Less
This book is timely since the Basel Committee on Banking Supervision at the Bank for International Settlements is in the process of making major revisions in the capital rules for banks. It is important that capital adequacy regulation helps to achieve financial stability in the most efficient way. Capital adequacy rules have become a key tool to protect financial institutions. The research contained within the book covers some key issues at stake in the capital requirements for insurance and securities firms. The contributors are among the leading scholars in financial economics and law. Their contributions analyze the use of subordinated debt, internal models, and rating agencies in addition to examining the effect on capital of reinsurance, securitization, credit derivatives, and similar instruments.
Andrea Prencipe, Andrew Davies, and Michael Hobday (eds)
- Published in print:
- 2005
- Published Online:
- September 2007
- ISBN:
- 9780199263233
- eISBN:
- 9780191718847
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199263233.001.0001
- Subject:
- Business and Management, Strategy
In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g., computing, ...
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In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g., computing, automotive, telecommunications, military systems, and aerospace). In the past, systems integration was confined to a technical, operations task. Today, systems integration is a strategic task that pervades business management not only at the technical level, but also at the management and strategic levels. This book shows how and why this new kind of systems integration has evolved into an emerging model of industrial organization whereby firms and groups of firms join together different types of knowledge, skill, and activity as well as hardware, software, and human resources to produce new products. The business of systems integration has fundamental implications for the capabilities of firms. Firms have made a transition from being vertically integrated to being the integrator of somebody else's activities. The book delves deeply into the nature, dimensions, and dynamics of the new systems integration, deploying research and analytical techniques from a wide variety of disciplines including, the theory of the firm, the history of technology, industrial organization, regional studies, strategic management, and innovation studies.Less
In the past decade or so, systems integration has become a key factor in the operations, strategy, and competitive advantage of major corporations in a wide variety of sectors (e.g., computing, automotive, telecommunications, military systems, and aerospace). In the past, systems integration was confined to a technical, operations task. Today, systems integration is a strategic task that pervades business management not only at the technical level, but also at the management and strategic levels. This book shows how and why this new kind of systems integration has evolved into an emerging model of industrial organization whereby firms and groups of firms join together different types of knowledge, skill, and activity as well as hardware, software, and human resources to produce new products. The business of systems integration has fundamental implications for the capabilities of firms. Firms have made a transition from being vertically integrated to being the integrator of somebody else's activities. The book delves deeply into the nature, dimensions, and dynamics of the new systems integration, deploying research and analytical techniques from a wide variety of disciplines including, the theory of the firm, the history of technology, industrial organization, regional studies, strategic management, and innovation studies.
Huw Beynon, Damian Grimshaw, Jill Rubery, and Kevin Ward
- Published in print:
- 2002
- Published Online:
- October 2011
- ISBN:
- 9780199248698
- eISBN:
- 9780191697760
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199248698.001.0001
- Subject:
- Business and Management, HRM / IR, Organization Studies
This book looks at how large organizations have managed and adapted to changing conditions of employment shaped by the recent economic and political environment. Additional data are presented based ...
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This book looks at how large organizations have managed and adapted to changing conditions of employment shaped by the recent economic and political environment. Additional data are presented based on evidence from other significant actors such as agency employment firms and trade unions. The book also engages with important North American debates on the changing nature of work, careers, and employment.Less
This book looks at how large organizations have managed and adapted to changing conditions of employment shaped by the recent economic and political environment. Additional data are presented based on evidence from other significant actors such as agency employment firms and trade unions. The book also engages with important North American debates on the changing nature of work, careers, and employment.
Maureen McKelvey
- Published in print:
- 2000
- Published Online:
- October 2011
- ISBN:
- 9780198297246
- eISBN:
- 9780191685316
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198297246.001.0001
- Subject:
- Business and Management, Innovation, Knowledge Management
This book examines the initial commercial uses of genetic engineering. Genetic engineering is one of the most modern, controversial and dynamic of the science-based technologies. It is not an object, ...
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This book examines the initial commercial uses of genetic engineering. Genetic engineering is one of the most modern, controversial and dynamic of the science-based technologies. It is not an object, but a set of techniques or way of doing things. The development of these technologies from the 1970s onwards illustrates the changing relationships between universities and firms, and between basic science and research oriented towards commercial uses. The main focus of the book is on two firms — DS Genentech in the United States and Kabi in Sweden — and their activities and ‘knowledge-seeking’ behaviour in the development of human growth hormone and how those ran in parallel with university science. This book was awarded the Schumpeter Society book prize in 1996. This paperback edition includes a new introduction in which the author reflects upon the most recent developments in biotechnology. The book will interest those who wish to understand the complexities of innovation processes in the ‘knowledge society’, for example, management and organisation researchers, economists, policy advisors, and managers and strategists responsible for turning knowledge into product and profit.Less
This book examines the initial commercial uses of genetic engineering. Genetic engineering is one of the most modern, controversial and dynamic of the science-based technologies. It is not an object, but a set of techniques or way of doing things. The development of these technologies from the 1970s onwards illustrates the changing relationships between universities and firms, and between basic science and research oriented towards commercial uses. The main focus of the book is on two firms — DS Genentech in the United States and Kabi in Sweden — and their activities and ‘knowledge-seeking’ behaviour in the development of human growth hormone and how those ran in parallel with university science. This book was awarded the Schumpeter Society book prize in 1996. This paperback edition includes a new introduction in which the author reflects upon the most recent developments in biotechnology. The book will interest those who wish to understand the complexities of innovation processes in the ‘knowledge society’, for example, management and organisation researchers, economists, policy advisors, and managers and strategists responsible for turning knowledge into product and profit.
William V. Rapp
- Published in print:
- 2002
- Published Online:
- October 2011
- ISBN:
- 9780195148138
- eISBN:
- 9780199849376
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195148138.001.0001
- Subject:
- Business and Management, Information Technology
The focus of this book is on educating on the strategic principles fundamental to using information technology to gain market control. It provides case examples of how to use IT to enhance existing ...
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The focus of this book is on educating on the strategic principles fundamental to using information technology to gain market control. It provides case examples of how to use IT to enhance existing core competencies and strategies. The book is designed to help managers struggling with how to advantageously harness the new information revolution. It can also support executive and business education programs on managing technology when few such studies exist. While Internet and information technologies are currently hot topics, many firms and executives are without the tools and knowledge of how to actually use them to improve results. This book describes how major non-information technology companies are doing this and the strategic principles employed.Less
The focus of this book is on educating on the strategic principles fundamental to using information technology to gain market control. It provides case examples of how to use IT to enhance existing core competencies and strategies. The book is designed to help managers struggling with how to advantageously harness the new information revolution. It can also support executive and business education programs on managing technology when few such studies exist. While Internet and information technologies are currently hot topics, many firms and executives are without the tools and knowledge of how to actually use them to improve results. This book describes how major non-information technology companies are doing this and the strategic principles employed.
Ash Amin and Patrick Cohendet
- Published in print:
- 2004
- Published Online:
- October 2011
- ISBN:
- 9780199253326
- eISBN:
- 9780191698125
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199253326.003.0009
- Subject:
- Business and Management, Knowledge Management, Organization Studies
This introductory chapter sets out the book's main argument, that the time is right for research to explore the relationship between two other dimensions of knowledge in order to explain the ...
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This introductory chapter sets out the book's main argument, that the time is right for research to explore the relationship between two other dimensions of knowledge in order to explain the innovative performance of firms: between knowledge that is ‘possessed’ (in different parts of the firm such as a functional unit, a department, a group of experts in a given domain); and knowledge that is ‘practised’ (processes of ‘knowing’), generally within communities of like-minded employees in a firm. This book can be considered as a response to the invitation to explore this generative dance, to understand the interplay between the knowledge that firms possess in the form of established competences or stored memory and the knowing that occurs through the daily interactions and practices of distributed communities of actors.Less
This introductory chapter sets out the book's main argument, that the time is right for research to explore the relationship between two other dimensions of knowledge in order to explain the innovative performance of firms: between knowledge that is ‘possessed’ (in different parts of the firm such as a functional unit, a department, a group of experts in a given domain); and knowledge that is ‘practised’ (processes of ‘knowing’), generally within communities of like-minded employees in a firm. This book can be considered as a response to the invitation to explore this generative dance, to understand the interplay between the knowledge that firms possess in the form of established competences or stored memory and the knowing that occurs through the daily interactions and practices of distributed communities of actors.
