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In this paper, my claim is that employee ownership of industrial companies enables economic survival, democracy, and joint responsibility. My main focus is a case study of Ljuders Nickelsilfverfabrik and its change to employee ownership. In 1980, 36 of the 42 employees became owners. My research question is how have the economy and democracy in an employee-owned industrial company changed over the years? My main research method includes a 35-year in-depth longitudinal case study of Ljuders Nickelsilfverfabrik since its employee takeover. The empirical material includes documents, interviews, participant observations, and informal talks over the entire study period. My theory is based on the study by Connell Fanning and McCarthy (1983, 1986), who have compiled the critical literature on employee-owned companies and have asked why so few employee-owned companies exist in Western economies. They formulate six non-viability hypotheses for employee ownership, against which I present my empirical study and conclude that employee ownership is possible. From my case study in combination with the literature about organizational changes, I formulate a recipe for a successful employee takeover and collective entrepreneurship. The experience of Ljuders Nickelsilfverfabrik shows that a more complete business idea can subsequently unfold with the help of different people’s knowledge and experiences. Degeneration from democratic to more traditional ownership and control can be avoided by placing new people in leadership positions. The management must create legitimacy for a different organizational form for internal and external stakeholders.

The purpose of this paper is to assessthe probable influence of some of the emotional costs and returns expected by owners on their family business sale decision; and examine if the perceived economic environment during the economic and financial crisis of 2008 had an impact on the intention to sell their family business.

The research is based on a sample of 69 family businesses responding to a postal questionnaire survey. The empirical study is made up of a descriptive analysis of the factors influencing the intention of a family business sale and an explanatory analysis of the sale intention.

The desire for family business renewal through family generational succession is the main emotional factor lying behind the decision to continue/sell the business. Furthermore, the financial and economic crisis does not seem to be a factor that accentuates the intention to sell the family business even if firms’ financial performance has declined.

Future research could implement a direct measure of owners’ performance thresholds and explicitly integrate the moderating role of “Perceived economic environment.”

By showing that continuity is a key concern for family business owners, the research invites them to effectively prepare their succession instead of postponing this strategic process given its significance in guaranteeing the survivability of the family business.

Executives who perceived economic conditions as very poor are less likely to consider the sale of the business in the horizon of two years than executives perceiving them as “normal.” The study confirms that in family-owned businesses, for the owner-managers and the active and serene family shareholders, the sale price does not compensate for their emotional regret evaluated through the loss of the family business’ emotional value.

In this work we analyze the effect of the recent trend of introducing differential wages in the Kibbutz economy. Note that this process is growing at a fast pace. Within less than a decade, the differential wages have become the prevailing model in the Kibbutz economy.Using the LMF theoretical model, we analyze the economic effects of that change. We find that in the short run, this process may bring stability to the Kibbutz. However, in the long run, the contrary is true. Combined with hired (outside) labor, this process will change the Kibbutz, turning it into a regular competitive firm (CMF). In this way “the final-curtain hypothesis” of the Kibbutz will come into effect. The Kibbutz, as a socio-economic phenomenon, will disintegrate about a century since its establishment.

This paper aims to explore dynamics of post termination interaction between international joint venture (IJV) partners and empirically examines IJV level and dyad level factors that influence the choice of post IJV termination interaction as supplier, complement or competitor.

In-depth literature review is undertaken to identify IJV and dyad level that could influence the choice of post termination interaction between terminated IJV partners. Hypotheses are empirically validated using multinomial logistic regression on data collected on terminated IJV headquartered in India.

The results denote that the choice of post-IJV termination interaction between IJV partners as supplier, complement or competitor is influenced by interdependence, bargaining power, foreign partner’s purpose of IJV, complementarity and type of IJV termination.

This paper explores an under researched area in extant IJV literature that could be taken up for study by academicians. The paper upholds and strengthens the dynamic capabilities view of strategic management in IJV context.

This paper examines a practice adopted by businesses in emerging markets and determines important factors that influence the choice of interaction post IJV termination between partners. Practitioners will be encouraged to understand and plan post termination dynamics with their terminated IJV partner.

The paper undertakes examination of a practical business phenomena, i.e. interaction post termination between terminated IJV partners.

The purpose of this paper is to assess the effect of professional preparation support on the transformation of nascent ventures into actual start‐ups.

An intention‐based approach is used. Longitudinal data concerning 228 nascent entrepreneurs are analysed using hierarchical binary logistic regression.

The positive effect of professional preparation support on start‐up outcomes is apparent in the results. However, self‐selection effects are detected concerning the use of individual preparation support. The results hold after controlling for these selection effects, intention and other project‐ and individual‐level influences.

The sample size limited the number of variables that could be analysed and the operationalisation used for support could be refined. In addition, the macro‐economic context in which the study took place influenced the results. The results concur with those which consider pre‐start‐up preparation support as a valuable tool to help individuals carry their projects through. In addition, they illustrate the relevance of intention‐based entrepreneurship research and show how this approach can be used to study various factors influencing entrepreneurial processes.

The results show that support actors can contribute to start‐up projects getting launched. They also highlight the presence of self‐selection issues that may be important for support networks to take into consideration when designing their programmes.

To the author's knowledge, this is the first application of an intention‐based approach to study the effect of professional support on a group of nascent entrepreneurs identified so early in their preparation.

This study aims to establish the dynamic relationship between international crude oil prices and Indian stock prices represented by the Bombay Stock Exchange (BSE) energy index.

Using Johansen’s cointegration test, vector error correction (VEC) model, impulse response function and variance decomposition test the study tries to ascertain the short-term and long-term dynamic association between the oil price shock and the movement of stock price and Granger causality test is applied to find out the nature of causality.

Considering vector autoregression estimation, the present study analyzes the relationship between the variables and tries to make a valid conclusion. The result of the co-integration test exhibits the presence of a long-term association between these two macro-economic variables during the period under study. Also, in the short-run VEC Granger causality result reveals that the movement of international crude oil price significantly influences the Indian stock price.

To get a more robust result the study can be further extended by taking a longer time period with data of shorter time-frequency such as daily or weekly and further by using more sophisticated econometric and statistical tools. Further, the study can be extended to firm-level investigation considering the forward trading concentration with the Indian oil basket.

In today’s globalized era, forecasting of share price movement helps investors in predicting the market and invest accordingly. Through this liquidity of the markets enhance and markets become more active in the global arena.

This study represents fresh findings in the changing time period the linkage between crude oil prices and stock prices which are of value to the academicians, researchers, policymakers, investors, market regulators, etc.

This paper aims to determine the effect of the period of abandonment on the final cost and duration of resuscitated tertiary educational building projects as a basis for enhancing the performance metrics of the projects and improving the availability of facilities in tertiary institutions in Nigeria.

A structured questionnaire was administered on 47 professionals involved in the physical development of construction projects in Osun State public tertiary educational institutions to provide primary data for the study. Secondary data relating to initial and final costs, initial and final completion dates, dates of abandonment, period of abandonment, date of re-award, etc. were obtained from selected resuscitated projects. Data were analyzed using relative significance index and regression analysis.

The most significant effects of project abandonment were found to be disappointment of populace and over-stretching of existing facilities. The study showed a directly proportional and an exponential effect of period of abandonment on percentage cost overrun of resuscitated projects, which were represented by y_c = −329.755 + 19.545x and y_c = 6.1662e_0.0506x, respectively. A linear relationship between period of abandonment and percentage time overrun was represented by y_t = 0.467 + 0.816x.

The fact that the regression equations could not be validated because of paucity of data was identified as a limitation of this study.

This study adds to the body of knowledge on abandonment of building projects from a quantitative perspective. Findings have implications for guiding long-term infrastructure development plans in public tertiary educational institutions.

Maximum threshold at which abandoned projects may be resuscitated at an economic cost was established as 16 months. Findings further suggest that the economy of new construction would outweigh resuscitation of abandoned projects beyond this period.

This paper reassesses the center-periphery relationship in light of recent developments in the international monetary system and the currency hierarchy in a geopolitical economy framework. The center-periphery relationship has historically been examined in relation to the international division of labor, the pace and diffusion of technical progress associated with it, and the pattern of consumption it embodies. As conceived by structuralists and dependentistas, it is not seen as the result of the uneven and combined development of capitalism: it does not take into account the struggle between the dominant States (center), which want to reproduce the current order and the contender States (periphery) which aim to accelerate capitalist development to reduce the unevenness, and even to undermine the imperial project of dominant states. In a geopolitical economy framework, a powerful obstacle peripheral countries face in their efforts at combined development is the international monetary system, something that the theorists of the center-periphery relationship have perhaps overlooked. Because of its subordinate position in the currency hierarchy, the periphery is subject to greater external vulnerability, greater instability of exchange and interest rates, and as a result, enjoys a more restricted policy space. In this sense, the chapter shows that, beyond macroeconomic policies, the currency hierarchy in a context of high capital mobility limits a range of developmental policies of peripheral countries, reinforcing the unevenness of world economy and constraining combined development.

Business entrepreneurs contribute to socio‐economic development and change through their commercial enterprises. Enterprising individuals seeking to change society or address social issues through an organized initiative have often been referred to as social entrepreneurs. The past decade has witnessed the emergence of a new breed of eco‐conscious change agents who may be called ecological entrepreneurs (ecopreneurs for short). This paper focuses on the strategies developed by six grassroots ecopreneurs drawn from two Indian states, Gujarat and Maharashtra, in the field of alternative agriculture. The cases in this sample consist of individuals who try to diffuse innovations developed by themselves. The paper also explains the conceptual differences between two types of ecopreneurs and provides the theoretical sampling frame; it discusses the research objectives and methodology and presents the ecopreneurs and their efforts at diffusing their eco‐friendly ideas and innovations. Finally, the paper focuses on two important barriers to ecopreneurship, describes the strategies used to overcome these barriers and draws conclusions.

The aim of the study was to examine the use of Porter’s generic strategies and their effect on performance in the context of the Slovak hospital industry. Using mail survey the study first identified the natural taxonomy of four strategic types of Slovak hospitals, based on their use of Porter’s generic strategies in pure form and in combination. Next the study examined whether different strategic types were associated with different levels of organisational performance, while controlling for such variables as size and location, which have been argued to influence the hospital performance. The findings indicate that hospitals which follow a “stuck‐in‐the‐middle” strategy, in general, have superior performance on all used performance measures, while hospitals that place only low emphasis on cost leadership, differentiation and focus, labelled “wait and see” in this study, perform the poorest. The study concludes that the research provided body of knowledge relevant for the Slovak hospital industry, that may be used by hospital managers in the strategy formulation process as well as by the researches in exploring the influence of different contingencies on hospitals’ strategic orientation.