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In this paper the isothermal flow of perfect gases is discussed following the gas dynamic approach of applying the continuity, momentum and energy equations. Flow functions for isothermal, reversible, one‐dimen‐sional flow are derived and these are represented graphically. Isothermal flow in convergent‐divergent nozzles is analysed and the variation of the derived flow functions is depicted.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

A great deal of policy thinking in the last ten to 15 years has been driven by the insights gained from the so‐called “new growth theory”. The theory emphasizes that investments in knowledge and human capital generate economic growth through spillover of knowledge, and the policy implication is that investments in knowledge and human capital are the best way to stimulate growth. However, there is a couple of missing links in the “spillover argument” in that the theory seems to disregard the role of the entrepreneur. The paper aims to answer the question: Why haven't entrepreneurship researchers become a strong voice regarding the understanding of the development of the knowledge economy?

The author argues that a dynamic and innovative research field is characterized by a balance between the pursuit of new issues and knowledge in research, for example, by being sensitive for changes in society, and the development of existing knowledge, by integrating and validating the knowledge base already existing within the field.

The paper shows that one important reason for the lack of visibility of entrepreneurship research can be found in an internal scientific development of the research field – entrepreneurship research has become more and more theory‐driven and shows less sensitivity and openness for changes in society.

The article gives a critical reflection on the development of entrepreneurship as a research field. In this sense the article provides an increased understanding of the knowledge that is within the field, and gives also suggestions for the future development of the research field.

This article aims to explain why geography is a prime discipline for analysing globalisation and a multicultural view of Global Studies. The generic approach of human geography to first select an appropriate methodology is taken as a key approach.

Concepts from aggregate disciplines such as history, economics, and geography are scanned through during a short description of the historical genesis of these sciences and the paradigmatic shifts they have encountered.

There are four main theses: (1) values are created by appreciation; (2) development is growing jointly with responsibility; (3) accumulation of material value is seen as expenditure to achieve non‐material values; and (4) spatial relations are interrelated with social relations.

Conceptual considerations have to be further corroborated by quantitative analyses using suitable metrics of “development”.

“Social and cultural geography” should contribute to any curriculum of “Global Studies”.

Dialogue and discourse between world views is the essential, ideology‐free approach for understanding globalisation.

Unlike other scientific articles focusing on “facts”, this article focuses on perspectives. Thus, it explains “multi‐perspectivity” and a multi‐paradigmatic approach.

Resource‐advantage theory is an interdisciplinary, evolutionary, process theory of competition that is proving to be extraordinarily provocative. A General Theory of Competition: Resources, Competences, Productivity, Economic Growth pulls together many of the articles that develop the theory. This article provides a brief overview of resource‐advantage theory, reports on two queries that have been raised by the theory’s critics, responds to the two queries, and extends an invitation to readers.

The purpose of the paper is to develop and test a psychometrically valid scale for musical intelligence as an individuating variable. This scale can elicit individual differences on reactions to sonic branding stimuli such as audio logos, radio jingles and commercial music.

A two-step confirmatory factor analysis followed by structural equation modeling was used to develop and test the scale. Data were collected across three studies consisting of 470 participants. The scale was developed and nomologically validated.

Findings suggest that musical intelligence discriminates reactions to music as evidenced by the three component conceptualization of musical intelligence.

This study offers an original, three-component conceptualization of musical intelligence, proposes a measurement scale and then presents evidence of construct validity. Finally, the paper discusses potential applications of the scale in personality research.

The purpose of this postmortem is to assess whether the design, implementation, and maintenance of financial policies during the period from 1996 through 2006 were primary causes of the financial system's demise.

To draw conclusions about the policy determinants of the crisis, the paper studies five important policies: Securities and Exchange Commission (SEC) policies toward credit rating agencies, Federal Reserve policies concerning bank capital and credit default swaps, SEC and Federal Reserve policies about over‐the‐counter derivatives, SEC policies toward the consolidated supervision of major investment banks, and government policies toward two housing‐finance entities, Fannie Mae and Freddie Mac.

The evidence is inconsistent with the view that the collapse of the financial system was caused only by the popping of the housing bubble (“accident”) and the herding behavior of financiers rushing to create and market increasingly complex and questionable financial products (“suicide”). Rather, the evidence indicates that senior policymakers repeatedly designed, implemented, and maintained policies that destabilized the global financial system in the decade before the crisis. Moreover, although the major regulatory agencies were aware of the growing fragility of the financial system due to their policies, they chose not to modify those policies, suggesting that “negligent homicide” contributed to the financial system's collapse.

Although influential policymakers presume that international capital flows, euphoric traders, and insufficient regulatory power caused the crisis, this paper shows that these factors played only a partial role. Thus, current reforms represent only a partial and thus incomplete step in establishing a stable and well‐functioning financial system. Since systemic institutional failures helped cause the crisis, systemic institutional reforms must be a part of a comprehensively effective response.

The recent economic crisis has significantly slowed Slovenia’s recent social and economic progress and exposed some important long-term problems such as a reliance on low value added industries and lagging labor productivity. The Slovenian government has taken steps to create research partnerships between public science and the private sector and among multiple private sector companies. The purpose of this paper is to conduct a social network analysis (SNA) of the research partnerships and examine whether public funding has created the desired partnerships.

The authors employed a SNA in two stages. In the first stage, the authors treated the founding partners of government-funded 32 research centers as a single two-mode network and investigated how each of the members was bound to the network. In the second stage of the analysis the authors used project data from ten of the centers to characterize a project network based on collaborations on specific projects. Thus, the second stage overlaps the center network with the project network. The authors used information from interviews with network members to assist in interpreting the results.

Networking policies are stimulating collaborations among different types of centers and partners, but to differing degrees. While the formal collaborative network showed strong participation from the private sector, public research organizations, and higher education institutions, some of the centers are not well connected to the rest of the network. Partnership in the development of a proposal in response to a tender does not always translate into project collaboration, and the networks have evolved as project workplans and staffing plans are developed. The innovation network is evolving into an international network within and across scientific areas. Networks are path dependent and require policy stability; experienced bridging institutions can fill gaps where partners lack experience.

The definition of a network member is the company, faculty, or department. In reality, individuals within these organizations are acting on their own connections and experiences, and these may or may not encourage other individuals in the same organization to engage in partnerships. Thus, the authors may be overstating the extent to which one connection among organizations generates experience that will lead to future connection. Another important limitation of the data is that for the second stage of the analysis the authors received project information from only ten of the 32 formal center programs examined in the first stage.

Partnership is a learned behavior and the development of trust among partners takes time. The Slovenian government should provide policy stability and allow niches of technical excellence to emerge through consortium proposals. They should monitor the project partnerships and adjust funding so that it is reaching applicants that are actually partnering on projects rather than working alone or within their own institutional types. Other nations should also monitor the impact of partnership programs to ensure that as they evolve the funding is continuing to support and demonstrate the benefits partnership behavior.

Due to the path dependent nature of innovation partnerships, the authors expect participation in innovation networks to generate a change in the culture of research and development (R & D) partnerships in Slovenia. However, this transition will occur faster as organizations partner face-to-face on actual projects. Centrality in a network fosters common understanding and shared principles of collaboration.

Like many nations struggling to emerge from the recession, Slovenia has to examine its long-term strategy for upgrading its industries and improving productivity. This paper demonstrates how policies to enhance the innovation agenda might be more effective by examining how the networking resources are actually being used, whether participants are participating in networks that cross institutional types, whether policies are encouraging the exchange of information across stages of the innovation process, and therefore whether the policy will move the culture toward greater collaboration and R & D effectiveness. The results can assist Slovenia’s policymakers in redesigning innovation network policy.

The impact of the e-globalization combined with staggering costs for R & D across industries has resulted in the call for new approach to innovation where openness and interconnectivity is the role. This new approach is designated as “open innovation”. The new paradigm calls for the sharing of knowledge and resources in conducting innovation activities within and among organizations. As such, one needs to re-orient the structure of the organization to meet these new requirements. On the conceptual level, it becomes a significant undertake to try to grasp how our traditional understanding of the organization can be fitted within the requirements of the open innovation when the environment of the e-globalization is taken in consideration. The purpose of this paper is to discuss the question of how organization structure theories can be coupled to the open innovation paradigm. Out of that analysis the authors propose a new theoretical framework of organizational analysis that takes both the classical knowledge and the new economic context of e-globalization.

The contemporary period is recognized by the term “new economy”, as a replacement for the “old economy”. Another term of importance is “globalization”, which is coupled to the issue of economy categorization. Humanity launched the modern age of globalization some decades ago, but we are going through a new type of globalization, e-globalization. In the e-globalization, processes are induced basically by the impact of the new tools of communication and information technologies. These dynamic processes have forced a re-thinking of the traditional innovation practices. In the paper, the authors reflect on the changes in relation to the traditional knowledge about organization structure, using a deductive approach and textual analysis and relate that to the requirements of an open innovation paradigm. In the process, the authors introduce the basics of the “theory of internetisation dynamics” as a new potential organizational theoretical framework.

From the analysis, it was found that some traditional concepts about organization structure and organizing mechanism theories are responsive to the needs of the open paradigm settings while other theories are not. However, each of these is able to contribute to one of the five components of the theory of internetisation dynamics.

The authors argue that by using the correct framework for the analysis of the organizational structure, one can propose a set of strategic steps which would help the companies to re-structure. That would save time and effort for policy-makers and managers of firms, as well as researchers active in this field of organization and organizing processes, who are focused on the open innovation transformation requirements of the firms. Running this analysis would add some input into organizational re-orientation in troubled sectors such as in pharmaceutical industries.

The purpose of the study is to explore contributions made in Islamic economics methodology, particularly in the use of mathematical models used to build Islamic economic theories.

The methodology adopted is a survey by means of literature review.

Overuse of mathematical models in economics has it apparent weakness in simplifying complex realities and use of impracticable assumptions. But, that notwithstanding, they have a role to play in the development of Islamic economics. Empirical analysis in Islamic economics has weaknesses, including the very fact that moral phenomenon in Islamic economics is difficult to quantify, but its contribution, just like mathematics, is needed to develop the field. Islamic economics adopt mathematical models that do not cause obstacles in achieving the aim of Islamic economics, which is Falah. Where it is harmful, it is discarded. Islamic economics has yet to have a universally accepted research methodology; instead, numerous methodologies are used today. The poor use of mathematics in Islamic economics by new researchers, among other factors, may be due to young researchers’ poor background in mathematics.

The paper is unique in looking at the topic of Islamic economic methodology from the angle of application of mathematical models.