The recent crisis in financial markets has seen a gradual erosion of the boundaries of asset classes previously regarded as risk-free. We have gone from a world mostly free of default risk to one where credit risk is largely reflected in equity prices. Traditional valuation methods now need to be integrated to take into account a scenario in which expectations of growth are considerably reduced, and credit risk is increased to levels previously unheard of. But as the majority of private companies are sub-investment grade, Valuing Private Companies: How Credit Risk Reshaped Equity Markets and Corporate Finance Valuation Tools sets out an innovative new method for estimating private companies' cost of equity based on a Fixed Income Approach (FIA). In addition to the book's theoretical insights, illustrating in great detail the relationship between default risk and equity risk premium, readers will benefit from the practical experience the author has accumulated as a risk manager within major banking groups such as UniCredit Group, Capitalia SpA, and Banca di Roma SpA.

This book provides comprehensive coverage on the key issues of Chinese investment in the Australian minerals industry. It offers unique insights into the entry process, the management of Chinese investments, and their success factors and lessons learnt as being impacted upon by the entangling of political, economic, social and competitive forces.

Twenty-one authors from a variety of backgrounds analyse the global competitiveness of the Asian firm in different parts of the world and at different phases of their internationalisation process. They find that the Asian firms' emphasis on 'soft' skills such as networking, organisational learning and sharing stands in sharp contrast to the economic rationality of Western firms, which stress individual performance measurement, clearly defined responsibilities and accountability. Asian firms face serious problems in adjusting their systems to the Western environment without losing their competitiveness.

This book systematically describes and evaluates the impact of energy cooperatives as a key driving force in the German energy transition toward a sustainability-oriented energy sector. Based on a comprehensive survey and three case studies, it provides an instructive overview of the overall dimensions and scope of energy cooperatives in Germany, and of their history, structure and current investment projects. The book not only contributes to the energy policy discourse in Germany, but also highlights the role of energy cooperatives to enable an international readership to explore their potential in other countries. Further, it makes a theoretical contribution toward substantially supplementing actor research in general, and enterprise research in particular, in the field of sustainability transitions science.

The Growth of Chinese Electronics Firms outlines the way firms grow in China at an organizational level. Kimura uses China's electronics industry as a case study for measuring technology-fuelled growth and provides a way to understand diversified the growth process systematically.

Through case studies this volume provides evidence that a link between sourcing capabilities and organizational structure contributes to a positive sourcing performance. Reveals that providers who are able to adapt to changing client circumstances, whilst establishing a fit, succeed in achieving a sustainable performance.

The study of emotions in organizations is unlocking new and exciting insights into why employees behave as they do in groups, organizations and in different cultural contexts. In this 5th volume of "Research on Emotion in Organizations", a collection of the latest work advancing knowledge and practice in these areas is showcased. The readings will appeal to all seeking a better understanding of the social and emotional competencies that help employees thrive in the workplace, the types of emotional self-management strategies employees use in managing emotion work and how the work context affects these, the impact of emotional displays in the workplace on performance appraisal and perceived organizational commitment, the role of unconscious affect on attitudes and behaviors at work, how interpersonal relationships between co-workers affect vitality and job performance, cross-national and cross-cultural issues, and how to build positive work environments.

This book provides detailed empirical analysis of countries in Asia to examine various dynamic models that incorporate the impact of technology and innovations on the industry evolution and overall economic growth.

This is an exceptional new work on family business, showing how to maintain a balanced relationship between the family and the company, and ensure satisfactory business results. This roadmap helps the reader to build better managed and more stable family firms.

"Assembled in Japan "investigates one of the great success stories of the twentieth century: the rise of the Japanese electronics industry. Contrary to mainstream interpretation, Simon Partner discovers that behind the meteoric rise of Sony, Matsushita, Toshiba, and other electrical goods companies was neither the iron hand of Japan's Ministry of International Trade and Industry nor a government-sponsored export-led growth policy, but rather an explosion of domestic consumer demand that began in the 1950s.
This powerful consumer boom differed fundamentally from the one under way at the same time in the United States in that it began from widespread poverty and comparatively miserable living conditions. Beginning with a discussion of the prewar origins of the consumer engine that was to take off under the American Occupation, Partner quickly turns his sights on the business leaders, inventors, laborers, and ordinary citizens who participated in the broadly successful effort to create new markets for expensive, unfamiliar new products.
Throughout, the author relates these pressure-cooker years in Japan to the key themes of twentieth-century experience worldwide: the role of technology in promoting social change, the rise of mass consumer societies, and the construction of gender in advanced industrial economies.

This is an updated and edited version of Robin Marris' classic "The Economic Theory of Managerial Capitalism" (1964). This was widely recognized as pathbreaking as it was the first attempt by a professional economist to make a formal theory of the behavior and growth of a large-scale "managerial" corporation based on a realistic assessment of the sociological and institutional environment. The model determined the long run growth rates of individual firms on the basis of the financial and market environment on the one hand, and the needs, interest and aspirations of both managers and shareholders on the other. Managers in particular were shown to trade desire for growth against fear of takeover. These then novel important features of modern capitalism--mergers, takeovers and executive bonuses and the relationship between the growth of firms and the growth of the economy--have become increasingly topical. The new book contains the original introduction along with reworked and updated coverage of the theoretical model, along with completely new chapters both of micro-theory and assessing and responding to the debate which the book created.

This book provides an assessment of the evolution and dynamics of regional innovation systems (RISs) and the economic and social impact of resulting knowledge spillovers, presenting comparative case studies on the regions of several Central and Eastern European (CEE) countries (Czech Republic, Poland, Hungary, Slovakia, Lithuania and Estonia). It analyses RISs on the basis of several dimensions, such as absorption capacity and intellectual capital, and using several methods such as data envelopment analysis, patent network analysis, and weighted sum approach. Further, by looking at the economic and social impact of knowledge spillovers in RISs and networking, it identifies key distinguishing factors, including foreign direct investments, still prevalent centralized decision-making, EU-driven innovation policies and public financing of innovations. Sectoral case studies, e.g. from the automobile, chemical and other hi-tech manufacturing industries, are presented to help readers understand the different types of knowledge spillovers in CEE countries and the evolution and dynamics of RISs, and provide a multifaceted overview of the CEE regions.

The book addresses the concept of knowledge in a work and organizational context, professional or knowledge work, and knowledge-intensive firms. It provides a critical, moderate social constructivist understanding of these themes and the current interest in knowledge management, organization and the "knowledge economy". Professional service as well as science and high-tech work and firms are treated, reporting case studies of IT and management consultancy firms, advertising agencies and life science based companies. The concepts of knowledge and knowledge management are discussed and dominant functionalist thinking debunked. The ambiguity of knowledge in the input, process and output of professional work is emphasized. It is suggested that we should be careful in assuming too much about the nature, role and effects of "knowledge" in business life and instead take the constructed nature of knowledge seriously and scrutinize knowledge claims. Knowledge talk and claims may frequently be key elements in marketing and identity work as much as they inform us about key activities of professionals and knowledge-intensive firms. The book covers a fairly broad set of management, organization and working life aspects are addressed, including HRM themes and different forms of control including client control and regulation of identity. From a perspective emphasizing the ambiguity of social and business life, rhetoric, symbolism, image, politics of knowledge claims, identity and identity work are viewed as crucial for the understanding and management of professional/knowledge work and organizations. The book is provocative and challenges key assumptions in dominant knowledge and organization thinking, suggesting a novel theoretical approach. The book is intended for third year level undergraduates upwards, and aims to say things also of relevance for scholars. It mixes textbook and research ambitions. As a (moderately) constructivist text with a relatively broad focus, the book may have some potential as a text complementing more conventional textbooks also in general organization and management courses.

Economic events such as the recent global economic crisis can have substantial effects on the distribution of resources at the individual and household levels. Identification of appropriate and timely policy responses that support vulnerable groups is hampered by how little is known about the likely patterns of losses early on during the downturn. This volume contains fresh knowledge on the effects of the economic downturn on employment and income distribution. It contains 9 original research papers from both Europe and the US, including illustrations of forward-looking simulation methods that can be used before detailed data on actual household experiences become available. These papers offer new insights into issues such as how wages, employment and incomes are affected by the crisis, which demographic groups are most vulnerable in the recession, how well the welfare system protects the newly unemployed and how consumption and income poverty change over the business cycle.

The book is a collection of original research papers by a number of industrial organization economists active in the field of Research and Development theory and policy. The contributions gathered here cover several relevant topics in this area; namely patent policy, the effects of market structure and the internal organization of the firm on R&D incentives and technical progress, R&D cooperation and technological spillovers, innovation and the entry process. Comprehensive views of the acquired knowledge of these topics are presented together with new insights on these issues, including policy insights wherever appropriate. The book is intended for professional researchers in industrial organization, antitrust officers, plus graduate students (at both Master and PhD level).

The international fragmentation of economic activities - from research and design to production and marketing - described through the lens of the global value chain (GVC) approach impacts the structure and performance of small and medium-sized enterprises (SMEs) agglomerated in economic clusters. The consolidation of GVCs ruled by global lead firms and the recession of 2008-09 exacerbated the pressures on cluster actors that based their competitive advantage on local systems, spurring an increasing heterogeneity, both across and within clusters, that is still overlooked in the literature. Drawing on detailed studies of different industries and countries, Local Clusters in Global Value Chains shows the co-evolutionary trajectories of clusters and GVCs, and the role of firms and their strategies in organizing manufacturing and innovation activities in the context of ongoing technological shifts. The book explores the tension between place-based variables and global drivers of change, and the possibility for territories containing such clusters to prosper in the new global scenario. By adopting insights from the GVC framework and management studies, the book discusses how the internationalization strategies of firms create opportunities as well as constraints for adaptive upgrading in clusters. This book is of interest to both researchers and policy-makers who are interested in the dynamic sources of competitive advantage in the global economy.

Reveals emerging techniques for answering the challenges senior managers face today: improving organizational quality, inspiring team performance, and creating powerful long-range strategy. Presents a proven model for understanding organizations and demonstrates how it can be used to effect positive change in organizational systems.

This volume will present experimental economics research focusing on issues of environmental quality and sustainability. Specific topics will include institutions for cap-and-trade, eco-tourism, urban sprawl, and optimal pollution control strategies. In addition to the traditional 'introduction', we are asking an expert on engineering issues in energy, the environment, and sustainability to write an essay highlighting the benefits to scientists and engineers of understanding human behaviour.

With the growth of just-in-time delivery and e-commerce, fast and efficient cargo delivery remains in high demand around the globe. Not so long ago, the air cargo mode was employed mostly to move higher valued goods. Open international trade, combined with scale/scope economies in air transport and the use of modern commercial jets means that now some formerly "bulky" commodities are moved by air, a modal choice that would have been unthinkable a generation ago. However, as it grows the industry is not without its controversies or detractors. Employing various empirical techniques and modeling perspectives, the authors highlight the methods by which air cargo companies today provide effective and increasingly affordable services and how such services enhance economic growth, trade and development. The chapters cover three broad operational areas: costs and competitiveness, shipper services and air cargo company demand, and international competition and economic development. This volume provides the researcher with an updated "snapshot" of this international industry and provides governments with strong evidence that the development of an internationally competitive air cargo sector will likely continue to generate significant economic benefits across the globe.

As sales of fair-trade goods explode across the globe, Fair Trade and the Citizen-Consumer provides a timely analysis of the organizations, institutions and grassroots networks behind this growing movement. Drawing on examples from the UK, Sweden and USA, this book moves away from models of individualized consumer choice and instead explores the collective cultures and practices that motivate and sustain fair-trade consumer behaviour. Although the fair-trade citizen-consumer has been called to action and publicly represented as an individual 'voting' in the marketplace, this book reveals how market interventions are editing the choices available to consumers, at the same time as 'Fairtrade Town' consumer networks are flourishing. Offering new and critical insights into the fair-trade success story, this book also contributes to debates about sustainable consumption behaviour and the growth of 'new' forms of political participation and citizenship.

German industry in particular is a central focus for studying technical and organizational changes in industry due to its pivotal position in international markets, its technological sophistication and its well-established training systems. Originally published in 1992, this study brings together contributions which contain both theoretical approaches and extensive empirical studies, on the manufacturing industry in Germany, including comparisons to other european countries. It looks at the developments of new technology, identifying trends in rationalization and the influences they have on organizational behaviour. As it discusses the relationships between technology and the work-force it includes discussion on flexible specialization, labour processes, union relations, small and large firms and training processes.

Originally published between 1956 and 1997, the volume in this set take the automobile industry experience as a basis for a wider view of industrial relations, trends and developments from the 1950s to the 1990s. They also analyse the emergence of new institutions and systems of labour-management relationships, examine the effects of automotion and technical change, the impact of fluctuations in the market for cars and wage trends. They discuss the car and its role in social, geographical and political change. The volumes provide: detailed surveys of some of the biggest post-war disputes and especially of trade union organization. the experience of individual firms, such as Austin, Ford and Fiat. comparative surveys of labour relationships in major car manufacturing countries such as the UK, USA, Germany and Japan. And include: material about the technology, design and production of cars and the ancillary fields of oil production, refining and road building.

A comprehensive picture of the effects of economic integration on industry location in less developed East Asia - particularly in Cambodia, Laos, Vietnam, and Myanmar - who pursued trade liberalization and economic integration after the 1990s. Studies include detailed empirical analyses of regional industry locations as well as country overviews.

The separation between ownership and control has become common practice over the last century, in most medium and large firms across the world. Throughout the twentieth century, the theory of the firm and the theory of industrial organization developed parallel and complementary views on managerial firms. This book offers a comprehensive exposition of this debate. In its survey of strategic delegation in oligopoly games, An Economic Theory of Managerial Firms is able to offer a reinterpretation of a range of standard results in the light of the fact that the control of firms is generally not in the hand of its owners. The theoretical models are supported by a wealth of real-world examples, in order to provide a study of strategic delegation that is far more in-depth than has previously been found in the literature on industrial organization. In this volume, analysis is extended in several directions to cover applications concerning the role of: managerial firms in mixed market; collusion and mergers; divisionalization and vertical relations; technical progress; product differentiation; international trade; environmental issues; and the intertemporal growth of firms. This book is of great interest to those who study industrial economics, organizational studies and industrial studies.

In the late 1990s the idea of cross-sector collaborations was relatively new in Europe. The term 'partnership' was employed primarily to refer to partnerships between government and businesses, usually termed PPP (Public Private Partnerships). On the other hand 'strategic alliances' was the term employed for business-to-business partnerships. Until then 'sponsorship' was the most practised associational form between nonprofit organisations (NPOs) and businesses (BUSs), which was included within the broad area of corporate community involvement. The relations between NPOs and BUSs witnessed a gradual intensification over the last 200 years (Gray 1989; Young 1999; Austin 2000; Googins and Rochlin 2000) resulting in increased interactions within both the philanthropic and trans- tional types of relationships (Seitanidi and Ryan 2007). However, the more recent gradual prominence of the concept of corporate social responsibility (CSR) within all sectors of society elicited an intensification of the debate with regard to the responsibilities of each sector in addressing environmental and social issues. In effect, CSR contributed to the increase of the interactions across the sectors and propelled NPO-BUS Partnerships (a type of social partnership) as a key mechanism for corporations to delve into a process of engaging with NPOs in order to improve their business practices by contributing their resources to address social issues (Heap 1998; Mohiddin 1998; Fowler 2000; Googins and Rochlin 2000; Mancuso Brehm 2001; Drew 2003; Hemphill and Vonortas 2003).