We find that declining bank credit to the private sector will not necessarily constrain the economic recovery after output has bottomed out following a financial crisis. To obtain this result, we examine data from 39 financial crises, which – as the current one – were preceded by credit booms. In these crises the change in bank credit, either in real terms or relative to GDP, consistently did n...

The emergence of electronic commerce raises important questions about the building and leveraging of legitimacy for both practitioners and scholars of strategy. New entrants’ click-and-mortar or click-and-click business models are challenging the legitimacy of large and mature brick-and-mortar incumbents. The implications of this challenge for the financial services industry—as for many other i...

To gain competitive advantage organizations need to have something that the competitors do not have and cannot achieve in the short-term. In the past organizations invested large amounts of financial resources to the finest equipment to increase competitiveness. Today, the paradigm has changed and so the quest is more knowledge and innovation driven, where the answer relies on the people’s capa...

BACKGROUND Hospitals facing financial uncertainty have sought to reduce nurse staffing as a way to increase profitability. However, nurse staffing has been found to be important in terms of quality of patient care and nursing-related outcomes. Nurse staffing can provide a competitive advantage to hospitals and as a result of better financial performance, particularly in more competitive markets...

We use fluctuations of female sex hormones occurring naturally over the menstrual cycle or induced by hormonal contraceptives to determine the importance of sex hormones in explaining gender differences in competitiveness. Participants in a laboratory experiment solve a simple arithmetics task first under a piece rate and then under a competitive tournament scheme. Subjects can then choose whic...