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.

The natural gas business consists of two major aspects, sourcing and transportation, and distribution has been a growing area of interest to industry, government and academia. With the emphasis on promoting natural gas sector, there is an increasing need to have a well documented book that deals with the business issues, particularly the transportation and distribution of this sector, specifically aimed at petroleum engineers and professionals. This book fills this gap to provide structured material that deals with managerial and regulatory aspects with an applied technical perspective wherever needed.

The 2008 credit crisis started with the failure of one large bank: Lehman Brothers. Since then the focus of both politicians and regulators has been on stabilising the economy and preventing future financial instability. At this juncture, we are at the last stage of future-proofing the financial sector by raising capital requirements and tightening financial regulation. Now the policy agenda needs to concentrate on transforming the banking sector into an engine for growth. Reviving competition in the banking sector after the state interventions of the past years is a key step in this process. This book introduces and explains a relatively new concept in competition measurement: the performance-conduct-structure (PCS) indicator. The key idea behind this measure is that a firm's efficiency is more highly rewarded in terms of market share and profit, the stronger competitive pressure is. The book begins by explaining the financial market's fundamental obstacles to competition presenting a brief survey of the complex relationship between financial stability and competition. The theoretical contributions of Hay and Liu and Boone provide the theoretical underpinning for the PCS indicator, while its application to banking and insurance illustrates its empirical qualities. Finally, this book presents a systematic comparison between the results of this approach and (all) existing methods as applied to 46 countries, over the same sample period. This book presents a comprehensive overview of the knowns and unknowns of financial sector competition for commercial and central bankers, policy-makers, supervisors and academics alike.

Japan's first decade of the twenty-first century is often called the "second lost decade," following the post-bubble "lost decade" of the 1990s, characterized by policy paralysis and overall lackluster economic growth. For those studying Japan more closely, however, the same decades reveal nothing short of a broad transformation in numerous core tenets of Japan's postwar political economy. How can we best capture this transformation?

Each chapter in this volume examines a different aspect of Japan's political economy within a longer historical trajectory, from multiple angles, to depict a flexible but resilient system. They include: a comprehensive overview of the political economy; Japan's financial system; corporate reorganization; the politics of reform; small and medium enterprises and the labor market; compensation systems; and foreign multinational corporations. The editors characterize Japan's process of change as syncretism --practices foreign, domestic, old and new were selectively adopted, mixed and matched, along the way creating a new and unique hybrid system.

Cost-benefit analysis (CBA) is the systematic and analytical process of comparing benefits and costs in evaluating the desirability of a project or programme - often of a social nature. It attempts to answer such questions as whether a proposed project is worthwhile, the optimal scale of a proposed project and the relevant constraints. CBA is fundamental to government decision making and is established as a formal technique for making informed decisions on the use of society's scarce resources. This timely sixth edition of the classic Cost-Benefit Analysis text continues to build on the successful approach of previous editions, with lucid explanation of key ideas, simple but effective expository short chapters and an appendix on various useful statistical and mathematical concepts and derivatives. The book examines important developments in the discipline, with relevant examples and illustrations as well as new and expanded chapters which build upon standard materials on CBA. Highlights include: updated historical background of CBA extended non-market goods valuation methods the impact of uncertainty evaluation of programmes and services behavioural economics decision rules and heuristics CBA and regulatory reforms CBA in developed and developing countries value of household production other topics frequently encountered in CBA, such as costs of diseases and air pollution, and value of statistical life. This book is a valuable source and guide to international funding agencies, governments, interested professional economists and senior undergraduate and graduate students. The text is fully supported by a companion website, which includes discussion questions and PowerPoint slides for each chapter.

Originally published in 1986, this book was published at a time when the manufacturing structure of advanced economies was transformed. The growing internationalization of production, the rising power of giant corporations and the increasing rate of technological innovation remain key issues today. The impact of these changes is felt unevenly between regions, shown by huge job losses in some places and high-tech based growth in others. Drawing together contributions from economists, geographers, sociologists and management specialists, the problems facing the declining regions are discussed and analyzed. The book will be of interest to researchers, planners and policymakers concerned with the regional aspects of technological change and industrial restructuring.

This book, originally published in 1988, reviews the development of high technology industries at global and selected national and local levels, providing a unique insight into reasons for and consequences of such modern industrial development. It appraises government policies for assisting the development of this sector and focuses on the fact that high tech industry tends to be concentrated in particular regions of countries which attain the status of 'successful populations'. High technology industry seems to offer little benefit to declining manufacturing areas and the book offers explanations for these regional concentrations and assesses the likely consequences.

What do Goggle, Facebook, mobile phones and creative commons have in common? The answer is: economics! Stefano Comino and Fabio Manenti have written a crisp and thorough treatment of the economics of information and communications technologies. This valuable book fills a real gap in the market.' - Professor Tommaso Valletti, Imperial College Business School'I enjoyed reading this book immensely. So will students, as they will be able to see lucidly the economics behind their inseparable electronic companions. Researchers keeping a copy at hand will have a rich reference source of the ways in which good economic theory has captured the behaviour of sophisticated firms and their customer.' - Gianni De Fraja, The University of Nottingham, UK This text rigorously blends theory with real-world applications to study the industrial organization of the ICT sector. Each of the self-contained chapters, which can be studied in isolation, contains theoretical models that are presented in a clear and accessible way. Throughout, a series of useful boxes complements and elucidates the theories with additional empirical/anecdotal evidence. This text will be of great interest to advanced undergraduate students with a background in microeconomics and game theory, particularly those taking courses in industrial organization, innovation economics and the economics of networks. The authors address the most important issues and are able to explore and explain complex theories and concepts in a clear, logical and coherent manner. Some of the topics covered include: - the economics of innovation - digital markets - network externalities - two-sided networks - imitation, open source and file sharing - antitrust in high-tech sectors. Contents: 1. Industrial Organisation of High-Tech Markets 2. Digital Markets 3. Network Externalities 4. Two-Sided Networks 5. Access and Interconnection in Telecommunications 6. Cumulative Innovation in Dynamic Industries 7. Imitation, Open Source and File Sharing 8. Antitrust in High-Tech Sectors References Index

This book includes original essays by prominent researchers and practitioners in the field of postal and delivery economics, originally presented at the 29th Conference on Postal and Delivery Economics held online, September 1-3, 2021. The central focus of the book is the short and long-term impact of covid-19 pandemic on the sectors, both from the economic and regulatory perspectives. Other important topics include the unstoppable growth of e-commerce and the implications for delivery market; solutions for the "last mile", and the associated challenges in terms of sustainability. Chapters also discuss traditional topics for postal and delivery sectors, such as the competitive dynamics in the sector, the business strategies of postal operators, as well as the definition and funding of the Universal Service Obligation. This book will be a useful tool not only for graduate students and professors interested in postal and regulatory economics, but also for postal administrations, consulting firms, and federal government departments.

As the fourth largest military spender in the world, India has a huge defence economy supported by a budget amounting to nearly $67 billion in 2020-21. This book examines how well India's defence economy is managed, through a detailed statistical exposition of five key themes - defence planning, expenditure, arms production, procurement and offsets. This book is based on hard-core evidence collected from multiple government and other credible sources including the ministries of Defence, Finance, and Commerce and Industry, Comptroller and Auditor General of India and the Reserve Bank of India. It discusses key issues such as the evolution of India's defence plan; the feasibility of increasing defence spending; India's defence acquisition system; and the recent reform measures taken under the rubric of the 'Make in India' initiative. Well supplemented with original tables and figures, India's Defence Economy will be indispensable to students and researchers of defence and security studies, politics and international relations, finance, development studies, economics, strategic studies, South Asian politics, foreign policy and peace studies. It will also be of interest to defence ministry officials, senior armed forces personnel, military attaches, defence training institutes and strategic think tanks.

As the fourth largest military spender in the world, India has a huge defence economy supported by a budget amounting to nearly $67 billion in 2020-21. This book examines how well India's defence economy is managed, through a detailed statistical exposition of five key themes - defence planning, expenditure, arms production, procurement and offsets. This book is based on hard-core evidence collected from multiple government and other credible sources including the ministries of Defence, Finance, and Commerce and Industry, Comptroller and Auditor General of India and the Reserve Bank of India. It discusses key issues such as the evolution of India's defence plan; the feasibility of increasing defence spending; India's defence acquisition system; and the recent reform measures taken under the rubric of the 'Make in India' initiative. Well supplemented with original tables and figures, India's Defence Economy will be indispensable to students and researchers of defence and security studies, politics and international relations, finance, development studies, economics, strategic studies, South Asian politics, foreign policy and peace studies. It will also be of interest to defence ministry officials, senior armed forces personnel, military attaches, defence training institutes and strategic think tanks.

This book explains engineering practice, what engineers actually do in their work. The first part explains how to find paid engineering work and prepare for an engineering career. The second part explains the fundamentals of engineering practice, including how to gain access to technical knowledge, how to gain the willing collaboration of other people to make things happen, and how to work safely in hazardous environments. Other chapters explain engineering aspects of project management missed in most courses, how to create commercial value from engineering work and estimate costs, and how to navigate cultural complexities successfully. Later chapters provide guidance on sustainability, time management and avoiding the most common frustrations encountered by engineers at work. This book has been written for engineering students, graduates and novice engineers. Supervisors, mentors and human resources professionals will also find the book helpful to guide early-career engineers and assess their progress. Engineering schools will find the book helpful to help students prepare for professional internships and also for creating authentic practice and assessment exercises.

Industrial energy efficiency is one of the most important means of reducing the threat of increased global warming. Research however states that despite the existence of numerous technical energy efficiency measures, its deployment is hindered by the existence of various barriers to energy efficiency. The complexity of increasing energy efficiency in manufacturing industry calls for an interdisciplinary approach to the issue. Improving energy efficiency in industrial energy systems applies an interdisciplinary perspective in examining energy efficiency in industrial energy systems, and discusses how "cross-pollinating" perspectives and theories from the social and engineering sciences can enhance our understanding of barriers, energy audits, energy management, policies, and programmes as they pertain to improved energy efficiency in industry. Apart from classical technical approaches from engineering sciences, Improving energy efficiency in industrial energy systems couples a sociotechnical perspective to increased energy efficiency in industry, showing that industrial energy efficiency can be expected to be shaped by social and commercial processes and built on knowledge, routines, institutions, and methods established in networks. The book can be read by researchers and policy-makers, as well as scholars and practicians in the field. "This book is extremely valuable for anyone who is designing or executing energy efficiency policies, schemes or projects aiming at SMEs. Both authors deserve the highest respect, and the combination of their expertise makes the results truly unique." - Daniel Lundqvist, programme manager at the Swedish energy agency "For anyone interested in improving energy efficiency in industry, this is a must-read. The book combines tools from social science and engineering to discuss the state of art today as well as possible development path tomorrow. This is a compelling book that I find useful both in my teaching and my research." - Kajsa Ellegard, Professor at Linkoeping University, Sweden "The book Improving energy efficiency in industrial energy systems is a novel approach on how improved levels of energy efficiency can be reached in industrial energy systems by merging engineering with social sciences. It is with delight that I can recommend their book to anyone interested in the field."- Mats Soederstroem, Director Energy Systems Programme, Linkoeping University, Sweden

This book applies cutting-edge economic analysis and social science to unpack the rich complexities and paradoxes of the Fourth Industrial Revolution. The book takes the reader on a bold, refreshing, and informative tour through its technological drivers, its profound impact on human ecosystems, and its potential for sustainable human development. The overarching message to the reader is that the Fourth Industrial Revolution is not merely something to be feared or survived; rather, this dramatic collision of technologies, disciplines, and ideas presents a magnificent opportunity for a generation of new pioneers to rewrite "accepted rules" and find new avenues to empower billions of people to thrive. This book will help readers to discern the difference between disruption and transformation. The reader will come away from this book with a deeply intuitive and highly contextual understanding of the core technological advances transforming the world as we know it. Beyond this, the reader will clearly appreciate the future impacts on our economies and social structures. Most importantly, the reader will receive an insightful and actionable set of guidelines to assist them in harnessing the Fourth Industrial Revolution so that both they and their communities may flourish. The authors do not primarily seek to make prescriptions for government policy, but rather to speak directly to people about what they can do for themselves, their families, and their communities to be future-proofed and ready to adapt to life in a rapidly evolving world ecosystem.

The air transport industry has high economic impact; it supports more than 60 million jobs worldwide. Since the early years of commercial air travel, passenger numbers have grown tremendously. However, for decades airlines' financial results have been swinging between profits and losses. The airline industry's aggregate net average profit between 1970 and 2010 was close to zero, which implies bankruptcies and layoffs in downturns. The profit cycle's amplitude has been rising over time, which means that problems have become increasingly severe and also shows that the industry may not have learned from the past. More stable financial results could not only facilitate airline management decisions and improve investors' confidence but also preserve employment. This book offers a thorough understanding of the airline profit cycle's causes and drivers, and it presents measures to achieve a higher and more stable profitability level. This is the first in-depth examination of the airline profit cycle. The airline industry is modelled as a complex dynamic system, which is used for quantitative simulations of 'what if' scenarios. These experiments reveal that the general economic environment, such as GDP or fuel price developments, influence the airline industry's profitability pattern as well as certain regulations or aircraft manufactures' policies. Yet despite all circumstances, simulations show that airlines' own management decisions are sufficient to generate higher and more stable profits in the industry. This book is useful for aviation industry decision makers, investors, policy makers, and researchers because it explains why the airline industry earns or loses money. This knowledge will advance forecasting and market intelligence. Furthermore, the book offers practitioners different suggestions to sustainably improve the airline industry's profitability. The book is also recommended as a case study for system analysis as well as industry cyclicality at graduate or postgraduate level for courses such as engineering, economics, or management.

Marx claims that unselfishness is a child of (workplace) culture, whereas the gene is selfish. If Marx is right then the prerequisite for overthrowing capitalism is a system which both leverages selfishness and creates solidarity between workers. This book illustrates and discusses the major points of the economic theory of producer cooperatives, its evolution since the 1950s, and links with Marxian theory. Labour Managed Firms and Post-Capitalism, most importantly, demonstrates that a system of producer cooperatives offers a wealth of advantages compared to capitalism. There is general agreement that the main benefit of this form of economic democracy is that people who are allowed to freely pursue their interests are happier than those acting on somebody else's instruction. The author argues that a system of democratic firms would eradicate classical (high-wage) unemployment and scale down both Keynesian and structural unemployment levels. He also shows that a system of producer cooperatives literally reverses the capital-labour relationship typical of capitalism and that its establishment can consequently be looked upon as a revolution. This volume is of great interest to academics, lecturers and researchers with an interest in Marxism, political economy and industrial economics, as well as economic theory and philosophy.

Originally published in 1995 this volume examines and analyzes the factors that have made the township-village enterprise (TVE) such a driver of growth in the Chinese economy in recent years. The book analyzes the background of the TVE and discusses regional differences in TVE efficiency as well as examining the apparent contradiction of the success of the TVE despite the lack of well-defined property rights. Issues of rural-rural and rural-urban migration phenomena are discussed and the differences discussed between the Chinese economy and those of other developing nations.

Originally published in 1994 this book concerns successful implementation of radical, technological innovations within business organizations. It extends and unifies paradigms for understanding implementation of radical innovations by modeling roles and interactions between key vending and buying firm players. It focuses on how interaction between certain players in buying and vending organizations affects successful implementation of the innovation and investigates the relationships between the user, buying change agent and vending change agent.

Originally published in 1994 this book undertakes a comprehensive study dealing with the effects of machine flexibility, tool magazine capacity, varying production demands and different oeprating policies on the production planning problems. Performance measures such as FMS flexibility, makespan and inventory are used in evaluating the effects. Three measures of FMS flexibility - actual routing flexibility, potential routing flexibility and capacity flexibility are defined and operationalized.

Transforming Industrial Policy for the Digital Age argues that digital globalization is inducing deep and productive transformations, making industrial policy necessary in order to reorientate development towards inclusive and more sustainable growth. It demonstrates that industrialization remains an important development process for emerging economies. Featuring contributions by leading scholars, this timely book unpacks the dynamics of 'Industry 4.0', including computer-based algorithms, integration with cloud computing, and the Internet of Things. As existing global value chains take advantage of the new technologies to reorganize production, the contributors explore the implications of new industrial policies, and to what extent they have promoted structural changes that maintain sustainability. This book reflects on the lessons that can be drawn from the history of national industrial policies from across the globe, covering the successes and failures of national policy in promoting industry in response to productive transformations in industrial organization. Insightful and nuanced, this book will benefit scholars of both economics and industrial public policy. International experts and policy-makers will also appreciate this book's critical insight into the transformative shifts in global industrial organization and policies.

Employee well-being and organizational success are closely linked. In light of this connection, corporate wellness programs have emerged in recent decades as a way to achieve organizational health and success. Corporate Wellness Programs offers contributions from international experts, examining the planning, implementation and evaluation of wellness initiatives in organizations, and offering guidance on how to introduce these programs in to the workplace. Previous research evidence surrounding corporate wellness programs is reviewed, to illustrate reduced health care costs, higher levels of employee well-being, greater work engagement, higher levels of performance, and financial gains on investment costs. Organizational case studies in various countries are explored, highlighting best practice and lessons to be learned from them. This book offers a unique addition to employee and organizational health research, emphasizing both theoretical and empirical examples of best-practice corporate wellness programs. Researchers and academics interested in individual and organizational health will find this book a valuable resource and reference point. Managers and consultants working with organizational health will benefit from the best practice recommendations presented in the book. Contributors: D.R Anderson, T.S Bailey, D.W. Ballard, W.B. Baun, C.Biron, R.J. Burke, Q. Campbell, M.-E. Caouette, M. Carter, S. Dawkins, M.F.Dollard, J. Grossmeier, L.M.Holland, A. Kaufman, R.K. Kelly, G. Kok, A. Martin, C.D.Morris, C.W. Morris, R.J. Ozminkowski, M.-E. Paradis, S. Pignata, A.M. Richardsen, R.A.C.Ruiter, J. Spero, P.E. Terry, F.R.H. Zijlstra

This Palgrave Handbook offers the first international comparative study into the efficiency of the industrial organization of the global wine industry. Looking at several important vineyards of the main wine countries, the contributors analyze differences in implementation and articulation of three key stages: grape production, wine making and distribution (marketing, selling and logistics). By examining regulations, organization theory, industry organizational efficiency and vertical integration, up to date strategies in the sector are presented and appraised. Which models are most efficient? What are the most relevant factors for optimal performance? How do reputation and governance impact the industry? Should different models co-exist within the wine countries for global success? This comprehensive volume is essential reading for students, researchers and professionals in the wine industry.

First published in 1930, New Zealand in the Making is an economic history of the democratic experiments in New Zealand. The geography, population, government ownership of public utilities, compulsory arbitration, pensions and all other factors have been covered in detail. The book will be of interest to anyone keen on learning about New Zealand as well as to students of economy, history, agriculture, and government.

The political economy of research and innovation (R&I) is one of the central issues of the early twenty-first century. 'Science' and 'innovation' are increasingly tasked with driving and reshaping a troubled global economy while also tackling multiple, overlapping global challenges, such as climate change or food security, global pandemics or energy security. But responding to these demands is made more complicated because R&I themselves are changing. Today, new global patterns of R&I are transforming the very structures, institutions and processes of science and innovation, and with it their claims about desirable futures. Our understanding of R&I needs to change accordingly. Responding to this new urgency and uncertainty, this handbook presents a pioneering selection of the growing body of literature that has emerged in recent years at the intersection of science and technology studies and political economy. The central task for this research has been to expose important but consequential misconceptions about the political economy of R&I and to build more insightful approaches. This volume therefore explores the complex interrelations between R&I (both in general and in specific fields) and political economies across a number of key dimensions from health to environment, and universities to the military. The Routledge Handbook of the Political Economy of Science offers a unique collection of texts across a range of issues in this burgeoning and important field from a global selection of top scholars. The handbook is essential reading for students interested in the political economy of science, technology and innovation. It also presents succinct and insightful summaries of the state of the art for more advanced scholars.

Originally published in 1995, this book explores a number of subjects of significance for labor and economic policy, especially the role of U. S. tax policy in the relocation of jobs from the contintental USA to Puerto Rico. The book demonstrates the problems for the USA because of inadequate adjustment policies to protect the interests of communities and workers when plants close and production is relocated. It disproves the myth that markets will take fcare of workers and communities, showing that basic economics is concerned with market forces and not with equity, environmental and worker protections. The Whitehall plant closing case is documented and the economic and political context analyzed which caused that case to be instructive for broader economic and labor policy purposes. In a new age of American Protectionism, this book has enduring relevance.