This paper examines the many changes which have transformed the German system of corporate governance during the last seven odd years. It concludes that it is in the process of converging towards the Anglo-American system and that this has fundamentally affected the way strategic decisions are made in firms. Large, internationally oriented companies are particularly affected. But the notion of ...

Public economics usually emphasizes the task of “setting the framework conditions” for markets. In formulating such setting, however, research has to deal with imperfect markets, uncertainties, and unknown impacts of any regulatory reform. Against this background, the EU undertakes efforts towards ‘regulatory impact assessment’ and ‘sustainability impact assessment’. The following article deriv...

Contract Violations, Neighborhood Effects, and Wage Arrears in Russia We present a model of neighborhood effects in wage payment delays. Positive feedback arises because each employer’s arrears affect the late payment costs faced by other firms in the same local labor market, resulting in a strategic complementarity in the practice. The model is estimated on panel data for workers and firms in ...

This paper contributes to the literature on both embodied technical progress and firm dynamics, by formulating an endogenous growth model where selection and imitation play a fundamental role in helping capital good producers to learn about the productivity of technologies embodied in new machines. By calibrating the model to some key aggregates particularly relevant for the embodied capital li...

Well to wheel (WTW) analyses mainly focus on alternative road fuel/vehicle systems that are very different from the current crude oil based individual transport system. A large share of WTW chains evaluated require changes in the energy source, new fuel production facilities, different fuel distribution systems and also modifications of the vehicles. An immediate transition to such a new system...

The main aim of this essay is to provide an approach to the analysis of the link between Thorstein Veblen’s evolutionary approach and Evolutionary Game Theory (EGT). Analysing this connection we expect to shed some light on the potential contribution of Veblen’s theory of socio-economic evolution to the discussion on the application of EGT to social environments. We also attempt to investigate ...

Economists usually assume that any sex difference in earnings after controlling for human capital and occupational segregation is largely (though not entirely) attributable to ‘‘discrimination’’. From the evolutionary psychological perspective, I argue that ‘‘discrimination’’ (or any other external constraint) is unnecessary to explain the partial effect of sex on earnings if men and women are ...

(1) Laboratory for Hydrogeology, Department of Geology-Geography, Faculty of Exact Science, Catholic University of Leuven, Redingenstraat 16, 3000 Leuven, Belgium (2) Department of Hydrogeology and Engineering Geology, University of Miskolc, Miskolc, Hungary (3) Hydrogeology and Environmental Geology, Department of Georesources, Geotechnologies and Building Materials (GEOMAC), University of Liè...

obviously, in analyzing and explaining economic and social problems, institutionalism is different from other approaches including neoclassical approach. the problem of poverty and inequality are important for many schools and have led to different analyses. veblen tries to explain that some classes in society seek to save their position and honor it in many ways. the goal of this article is to...