The distribution of firms' growth and firms' sizes is a topic under intense scrutiny. In this paper, we show that a thermodynamic model based on the maximum entropy principle, with dynamical prior information, can be constructed that adequately describes the dynamics and distribution of firms' growth. Our theoretical framework is tested against a comprehensive database of Spanish firms, which c...

This paper investigates the impact of CDS trading on the development of the bond market in Asia. In general, CDS trading has lowered the cost of issuing bonds and enhanced the liquidity in the bond market. The positive impact is stronger for smaller firms, non-financial firms and those firms with higher liquidity in the CDS market. These empirical findings support the diversification and inform...

a r t i c l e i n f o Keywords: Quality management capabilities Market orientation India Market-based organizational learning capabilities Business-to-business marketing Business-to-business marketing literature acknowledges the value firms, including business process outsourcing firms, realise through their supplier networks. Such value realisation is often possible through a dynamic exchange ...

We present an analysis of the lending/borrowing relationship between Japanese banks and Japanese firms, which form a bipartite credit network. We introduce distress to some initial node(s) (banks or firms) and allow it to propagate and contaminate other nodes in this network according to the relative exposure. First, by choosing the initial node to be a bank and taking the weighted average of t...

Background: Determining the turnaround potential of a firm has plagued academia and practice. Existing failure prediction tools yield limited insight into are heavily dependent on financial metrics. This framework made valuable contribution to research in this field as it added new perspective for decision-making purposes.Aim: Practitioners, judges or directors require quick, efficient aid deve...

This paper reviews the experience of small and medium enterprises in recent years in the Philippines. It notes that, while Philippines economic growth picked up in the early 1990s, the share of its small and medium enterprises (SMEs) in manufacturing employment and value added stayed roughly constant. However, the overall stability masks some dynamism across firm sizes and sectors. Thus, very s...

The current crisis is the first of this severity to hit the 30 OECD member countries since they shifted to knowledge-based economies where investment in intangible assets is or equal importance as investment in machinery, equipment and buildings. Innovation will be one of the keys to emerging from the current crisis, but it risks being it hard by the downturn. This is a major conclusion of a ne...

The origin of economic crises is a key problem for economics. We present a model of long-run competitive markets to show that the multiplicity of behaviors in an economic system, over a long time scale, emerge as statistical regularities (perfectly competitive markets obey Bose-Einstein statistics and purely monopolistic-competitive markets obey Boltzmann statistics) and that how interaction am...

The main purpose of this paper is to provide an understanding, within the field of corporate entrepreneurship, of the various factors that enable technology entrepreneurship in established firms and its principal effects on customers and society. The paper reports on a case study regarding technology entrepreneurship in a Spanish company whose activity is pharmaceutical distribution. This compa...