Strategic leadership has been proposed as critical to organizational effectiveness. As African economies transition from socialist to open market states, strategic leadership will be instrumental to the effectiveness of African organizations. Unfortunately, few studies of strategic leadership in African organizations exist. To fill this gap, a model of strategic leadership is proposed here. Str...

Why are some countries stupendously rich and others horrendously poor? Social theorists have been captivated by this question since the late 18th century, when Scottish economist Adam Smith addressed the issue in his magisterial work The Wealth of Nations. Smith argued that the best prescription for prosperity is a free-market economy in which the government allows businesses substantial freedo...

— Chinese enterprises have become extensively linked with the global economy, yet in a shallow manner. They remain stuck in commodity manufacturing, undifferentiated activities for which innovation is absent. Competition then revolves around cutthroat cost cutting. This outcome stems from three factors. First, it reflects the new challenges to development posed by globally networked production....

Provision of Social Goods and Soft Budget Constraints* by Lars-Hendrik Röller and Zhentang Zhang Firms in socialist and transitional economies are often obliged to provide a social good in addition to a private good, which makes it difficult for a government to commit not to bail out the firm once it is in financial trouble. This creates a soft budget constraint syndrome which causes the firm t...

During the socialist era the communist regime attempted to reduce development differentials among states and social classes. In contrast, during the last 20 years, the economies in transition experienced considerable divergence in the economic, social, demographic and political areas. As a result, these countries can now be grouped into four structurally different clusters alternatively depende...

This paper analyses changes in the legal protection of shareholder and creditor rights in 24 transition economies from 1990 to 1998. It documents differences in the initial conditions and a tendency towards convergence of formal legal rules as the result of extensive legal reforms. Convergence seems to be primarily the result of foreign technical assistance programmes as well as of harmonisatio...