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Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Each copy of any part of a JSTOR transmission must contain the same copyright notice that(More)
We develop a theoretical model to describe and explain variation in corporate gov-ernance among advanced capitalist economies, identifying the social relations and institutional arrangements that shape who controls corporations, what interests corporations serve, and the allocation of rights and responsibilities among corporate stakeholders. Our "(More)
Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Each copy of any part of a JSTOR transmission must contain the same copyright notice that(More)
This research paper suggests that due to the changing nature of the firm in todayÕs business world, viewing shareholders as the sole residual claimants is an increasingly tenuous description of the actual relationships among a firmÕs various stakeholders. Thus, a shareholder wealth perspective is increasingly unsatisfactory for the purpose of accurately(More)
This article maintains that the consistent application of subjectivism helps reconcile contemporary entrepreneurship theory with the strategic management literature, particularly the resource-based view of the fi rm. The article synthesizes theoretical insights from Austrian economics, Penrose's (1959) resources approach, and modern resource-based theory,(More)
 We argue that Rugman and Verbeke (2002) underestimate the importance of Penrose's (1959) contributions to the modern resource-based view of the firm. In particular, we take issue with Rugman and Verbeke's (2002) arguments concerning Penrose's (1959) contributions to our knowledge of: (1) the creation of competitive advantage, (2) sustaining(More)
Resource-based theory implicitly assumes that property rights to resources are secure. Extant property rights theory enables us to relax this assumption to take into account processes where there are struggles in establishing property rights that enhance the realized economic value of resources. A case study of oil field unitization (where a single firm is(More)
Turkey has experienced high and persistent inflation for more than twenty years. This paper attempts firstly to survey the extremely broad literature on theories of inflation, in order to be able to classify, understand and discuss the dynamics of inflation more carefully. It is mainly argued that inflation may be interpreted as a net result of(More)