Business Economics

Având în vedere obiectivul Lisabona de transformare a Uniunii Europene în cea mai competitivă economie bazată pe cunoaştere din lume, lucrarea îşi propune să  identifice locul actual pe care îl deţine comunicarea mediu academic – mediu antreprenorial, precum şi deficienţele acestei relaţii parteneriale. Dintre metodele de culegere şi sistematizare a informaţiilor s-a ales cercetarea directă, selectivă, pe bază de chestionar. Recoltarea datelor s-a realizat în perioada octombrie – noiembrie 2010, eşantionul respondenţilor fiind alcătuit din 432 de manageri de companii din judeţul Argeş. Principalele rezultate ale cercetării evidenţiază necesitatea perfecţionării comunicării şi colaborării dintre cele două medii, lucrarea oferind soluţii concrete.

This paper examined the relationship between earnings management and performance of acquiring firms in Malaysia during period of 2004-2010. Earnings management measured by discretionary accruals derived from modified Jones model and firm’s performance estimated by monthly Cumulative Abnormal Return. Firms are selected from both listed cash and share acquirers firms on Bursa Malaysia in the period of 2004-2010. The results indicated that share acquirer firms unlike cash acquirers manipulated their earnings preceding acquisition announcement date. Furthermore, the presented a negative relationship between earnings management preceding and performance of firms following the acquisition date for share acquirer firms.

This qualitative study examines the role of clients in petty corruption by analyzing actual corrupt exchanges between ordinary citizens and low level public and private employees in post-communist Hungary. Using a grounded theory approach, interviews reveal how clients from different social strata deal with low-level agents in corrupt situations. Findings suggest two contrasting forms of low-level corruption: transactions where the client and the agent do not have a prior relationship and where external factors dominate the relationship; and cases with stronger social ties between the actors, where the client has more freedom to structure the transaction. However, a client's social background frequently determines the form of corrupt transaction and the form of resources illegally exchanged in the deal.

Every business organization is laying more emphasis on customer care service . Customer care is the client’s perception of how well you supply those goods and services, therefore customer service and customer care can be measured in two different ways.

The present study investigates whether listed Brazilian companies between 1995 and 2008 coordinated cash and debt policies for effects of hedging against underinvestment under conditions of financial constraint. The results indicate the absence of a hedging component when simultaneously using cash and debt policies in constrained firms. For firms with financial constraints there was positive sensitivity of cash to cash flow and negative sensitivity of debt to cash flow, regardless of the need for hedging. The unconstrained firms did not present statistically significant sensitivity of cash to cash flow, but presented negative sensitivity of debt to cash flow, results that were also independent of the need for hedging. These findings run counter to those of Acharya, Almeida & Campello (2007) in the American market, where cash and negative debt were found to play different roles in intertemporal optimization of investments among constrained firms, according to the need for hedging.

"This Paper explores and summarises the Director's Duties of the UK Companies Act 2006 with emphasis on "the duty to promote the success of the company.

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Risk, including economic risk, is increasingly a concern for public policy and management. The possibility of dealing effectively with risk is hampered, however, by lack of a sound empirical basis for risk assessment and management. This article demonstrates the general point for cost and demand risks in urban rail projects. The article presents empirical evidence that allow valid economic risk assessment and management of urban rail projects, including benchmarking of individual or groups of projects. Benchmarking of the Copenhagen Metro is presented as a case in point. The approach developed is proposed as a model for other types of policies and projects in order to improve economic and financial risk assessment and management in policy and planning.

Organizations undertake capital investments in technology to generate revenues or decrease costs, and thereby enhance profitability. However, Red Queen–type responses by competing organizations in the form of rapid imitation and escalating of technology investments erode the ability of the investing organizations to sustain gains in profitability. Productivity gains from these investments may persist, but they may not translate into sustained profitability gains owing to declining prices brought about by a hypercompetitive environment. The emergence and erosion of benefits attributable to capital investments is examined by decomposing profitability into productivity, price recovery, product mix, and capacity utilization, and by regressing each performance measure on past technology investments. A polynomial distributed lag model is estimated with quarterly data for 30 firms in the mobile telecommunications services sector from 1996 to 2005. The results indicate that capital investments are positively associated with productivity of current and future periods, and their association with profitability is only positive in the future (after six quarters). These results highlight a unique outcome of the Red Queen hypothesis: simply by imitating, learning, and investing in technology due to competition is beneficial to all firms in the industry.

"O presente trabalho avalia as transformações ocorridas na estrutura industrial da economia brasileira durante o ajuste decorrente da abertura comercial do início dos anos 90. Discute as principais alterações no padrão de concorrência e na competitividade ao longo da cadeia de setores selecionados, de modo a justificar a adoção de estratégias de integração internacional de etapas da cadeia produtiva em detrimento da integração doméstica. Organiza o instrumental analítico comumente utilizado para cálculo de índices de competitividade, de modo a subsidiar os estudos
de caso desenvolvidos posteriormente. Apresenta estudos de caso acerca da competitividade indústria automobilística e da indústria calçadista no período pré e pós-ajuste (1989-1999). Analisa as estratégias de integração produtiva adotadas em cada setor, com especial atenção para os resultados relacionados ao incremento da produtividade do trabalho e da desindustrialização. Por fim, apresenta um breve rol de políticas públicas ligadas à manutenção e incremento dos atuais níveis de competitividade da indústria nacional."