Institutionalist analysis is increasingly used as a key research tool for economists confronted with the shortcomings of mainstream economic analysis and the problems presented by the transformation of socio-economic systems in Eastern Europe. On Economic Institutions brings together leading economists working in a wide range of research traditions who examine theories of institutions and institutional change. This important volume shows that the failure of most neoclassical economic analysis to consider economic institutions is a major shortcoming in scholarship which seeks to describe and understand crucial economic phenomena. After discussing the dynamics of institutional change, the contributors examine the explanatory variables necessary for researching institutions and pay particular attention to 'efficiency' as the key variable used by neoclassical institutional analysis. Later chapters examine the processes of institutional change focusing on issues such as path dependency, selection mechanisms and institutional dynamics, and methodological issues in analysing economic institutions. An introduction by the editors places these papers in context and traces the development of economic research across the various schools. Economists from both neoclassical and institutionalist schools, as well as economic historians, are making increasing use of institutionalist analysis as a key research tool. In bringing together cutting-edge theory and research on economic institutions, this important volume will be welcomed by scholars working in evolutionary and institutionalist research traditions, as well as by organizational theorists and sociologists.

Clustering as an economic policy concern has become increasingly fashionable. The authors of this book shed light on this subject of which there remains remarkably little understanding, and even less agreement, regarding what clusters are, what they require for success and what impacts they are likely to have in different contexts, locally, nationally and globally. Clusters and Globalisation brings together scholars with different perspectives and theoretical groundings, and from different disciplines, to consider conceptual arguments and case study material. In doing so the volume identifies key characteristics and requirements of the forms of cluster that are especially significant for the attainment of economic success in a globalising world. This unique critical analysis of clusters in the framework of globalisation will strongly appeal to students and academics with an interest in economic development, public policy and globalisation. The book will also be of great interest to researchers in policy agencies concerned with local economic development and the design of cluster policies.

Today greenness is goodness; non-greenness is not an option. It is therefore critical to advance thinking on why and how business, consumers and policy makers can contribute to the goal of sustainable global wealth creation. This volume analyzes the strategic sustainability issues confronting contemporary business, and explores the transformation in values, strategies, and practices needed by modern businesses to attain sustainable business. It is is developed from a Global Business Symposium organized by the Centre for International Business and Management (CIBAM) at Cambridge University in February 2009, which brought together leading academics, scientists and engineers, government leaders, and business executives to consider the transformation in business values and strategies implicit in sustainability. Green Business, Green Values and Sustainability offers a concise and definitive book on the green transformation of business in major sectors including government, finance, energy, and retail. Different solutions to sustainability are explored including ethical approaches, alternative environmental strategies, corporate responsibility, and carbon reductions.

Today greenness is goodness; non-greenness is not an option. It is therefore critical to advance thinking on why and how business, consumers and policy makers can contribute to the goal of sustainable global wealth creation. This volume analyzes the strategic sustainability issues confronting contemporary business, and explores the transformation in values, strategies, and practices needed by modern businesses to attain sustainable business. It is is developed from a Global Business Symposium organized by the Centre for International Business and Management (CIBAM) at Cambridge University in February 2009, which brought together leading academics, scientists and engineers, government leaders, and business executives to consider the transformation in business values and strategies implicit in sustainability. Green Business, Green Values and Sustainability offers a concise and definitive book on the green transformation of business in major sectors including government, finance, energy, and retail. Different solutions to sustainability are explored including ethical approaches, alternative environmental strategies, corporate responsibility, and carbon reductions.

Contents:
1. The (Theory of the) Transnational Firm: the 1990s and Beyond Christos Pitelis and Roger Sugden 2. A Survey of Theories of International Production John Cantwell 3. A Critical Re-evaluation of Hymer's Contribution to the Theory of the Transnational Corporation Mohammad Yamin 4. Transaction Costs Theory and the Multinational Enterprise Jean-Francois Hennart 5. The Eclectic Paradigm of International Production: A Personal Perspective John H. Dunning 6. The Resource-based Approach to Multinational Enterprise Neil Kay 7. Strategic Management and Transnational Firm Behaviour: A Formal Approach Edward M. Graham 8, An All-Weather Company: The (theory of the) Transnational Corporation and the Role of the Demand Side Christos Pitelis 9. Divide and Rule by Transnational Corporations James Peoples and Roger Sugden.

The Nature of the Transnational Firm brings together the major approaches to the transnational firm in one volume. Leading thinkers present overviews of a vibrant theoretical literature and assess the current state of analysis. Thoroughly revised and updated to take account the explosive growth of foreign direct investment in the 1990s, this volume will be welcomed by students and researchers of international business, international economics and business economics. Contributors include: John Cantwell, John H. Dunning, Edward M. Graham, Jean-Francois Hennart, Neil Kay.

Has privatization worked in practice? Only recently has sufficient empirical evidence become available to answer this question. Earlier studies of privatization have, by necessity, been largely concerned with a theoretical analysis of privatization policy. The Political Economy of Privatization draws together substantial evidence and analysis of the experience of privatization programmes in practice over the last ten years. The authors assess the different means of implementing privatization policies and analyse the impact on the economy. The work is an international study of the extensive privatization of the public sector of the advanced industrial countries; the rapid marketization of the East European countries; and the pressures upon developing countries to adopt re-regulation and privatization as the route towards economic growth. The results demonstrate that, far from being a uniform process, privatization can take many forms - from wholesale denationalization to the contracting of competitive tendering.

In The Political Economy of Privatization the authors assess the success of privatization. The work is an international study of the extensive privatization, and the pressure towards privatization, in different parts of the world. The book includes:
* A study of the relationship between ownership and performance;
* An assessment of the importance of market structure and regulation;
* A discussion of privatization strategies within the public sector;
* Individual country case-studies, looking at the experience of different countries engaged in the contrasting approaches to privatization.
* A critical assessment of the much vaunted relationship between ownership and efficiency.

Edith Penrose has been one of the most significant economists of the second part of the twentieth century. Her contribution to the theory of the firm has reinvented and productively developed the classical tradition in economics, and informed the currently dominant, knowledge-based theory of the firm. This volume builds on a special issue of Contributions to Political Economy that celebrated forty years since Penrose's classic The Theory of the Growth of the Firm. It includes fifteen chapters by leading contributors on the aforementioned aspects of Penrose's work.

This book looks at the role of the modern corporation in advanced capitalist countries. In particular it considers corporate control and shareownership and the impact of these on consumers' choice, the mobilization of financial capital, the saving function, and the question of the potentially inherent tendency towards stagnation and crisis. The author suggests that there is a tendency towards social ownership of the means of production in modern capitalist economies, directly via share purchase and indirectly via, e.g., occupational pension funds, while at the same time control and appropriation remain vested in a small minority. This is shown to affect financial capital accumulation and the saving function, since the competition between giant corporations encourages their controllers to increase corporate saving above the level desired by small shareholders who are suggested to be unable fully to compensate for such increases by their actions.

Written by an expert team and praised for its refreshing approach, this essential text offers a critical, holistic understanding of strategy theory and practice. The fourth edition has been fully updated to include: * Coverage of contemporary issues including the Covid-19 pandemic, climate change and digitalization * Topical and engaging case studies such as Disney's Strategy and Covid-19, Netflix Versus Amazon: Dynamic Capabilities for Global Success, and PS5, Xbox and BMW: Chips and Supply Chains * A wealth of new examples of strategy in practice from world-renowned organisations such as Google, Uniqlo, Tesla, IKEA, and Airbnb Suitable for both undergraduate and postgraduate study, Strategy: Theory and Practice encourages readers to engage critically with the internal and external factors that shape strategy in the real world. A selection of tried and tested online resources, including a teaching guide, PowerPoints, an online case study bank and test bank of questions have been developed to support lecturers using the book in their teaching. Stewart Clegg is Professor at the University of Sydney, Emeritus Professor at the University of Technology Sydney, and Visiting Professor at the University of Stavanger, University of Johannesburg, and Nova School of Business and Economics. Christos Pitelis is Head of Department of International Business and Professor of International Business and Sustainable Competitiveness at the University of Leeds, and Life Fellow at Queens' College, University of Cambridge. Jochen Schweitzer is an Associate Professor at the University of Technology Sydney. Andrea Whittle is Professor of Management at Newcastle University Business School.

Written by an expert team and praised for its refreshing approach, this essential text offers a critical, holistic understanding of strategy theory and practice. The fourth edition has been fully updated to include: * Coverage of contemporary issues including the Covid-19 pandemic, climate change and digitalization * Topical and engaging case studies such as Disney's Strategy and Covid-19, Netflix Versus Amazon: Dynamic Capabilities for Global Success, and PS5, Xbox and BMW: Chips and Supply Chains * A wealth of new examples of strategy in practice from world-renowned organisations such as Google, Uniqlo, Tesla, IKEA, and Airbnb Suitable for both undergraduate and postgraduate study, Strategy: Theory and Practice encourages readers to engage critically with the internal and external factors that shape strategy in the real world. A selection of tried and tested online resources, including a teaching guide, PowerPoints, an online case study bank and test bank of questions have been developed to support lecturers using the book in their teaching. Stewart Clegg is Professor at the University of Sydney, Emeritus Professor at the University of Technology Sydney, and Visiting Professor at the University of Stavanger, University of Johannesburg, and Nova School of Business and Economics. Christos Pitelis is Head of Department of International Business and Professor of International Business and Sustainable Competitiveness at the University of Leeds, and Life Fellow at Queens' College, University of Cambridge. Jochen Schweitzer is an Associate Professor at the University of Technology Sydney. Andrea Whittle is Professor of Management at Newcastle University Business School.

This book celebrates the monumental contribution to economics, strategic management, international business, and more of Edith Penrose -- the first person to analyse the theory of the growth of the firm. She examined knowledge creation within firms, leading to endogenous growth and to limits to growth, and applied her insights to business strategy and industrial organization. In this volume, eminent economists and management scholars assess, apply, and extend Penrose's contribution to new fields of enquiry.

There are not many books that are genuine classics, and only a handful in business and management whose insights and ideas last for 50 years and more. This book is one of the very few "must reads" for anybody seriously interested in the role of management within the firm.
Originally published in 1959, The Theory of the Growth of the Firm has illuminated and inspired thinking in strategy, entrepreneurship, knowledge creation, and innovation. Edith Penrose's tightly-argued classic laid the foundations for the resource based view of the firm, now the dominant framework in business strategy. She analyses managerial activities and decisions, organizational routines, and also the factors that inevitably limit a firm's growth prospects.
For this new anniversary edition, Christos Pitelis has written a new introduction which both tells the story of Penrose's extraordinary life, and provides a balanced assessment of her key ideas and their continuing relevance and freshness.