The asset management, and more specifically the mutual fund industry, is facing major strategic challenges. Although the market is growing overall, its growth attracts a steady stream of new entrants and new products that jeopardize the position and profitability of (large) incumbent firms. In order to cope with this setting, Andreas Mattig focuses on a holistic market model to sketch the mutual fund industry structure. This allows to propose a new measurement approach and to track the industrial dynamics. Based on these theoretical contributions, he concentrates on governance aspects and moulds the results into a practice-oriented strategic framework.
This book provides an account of work in the Schumpeterian and evolutionary tradition of industrial dynamics and the evolution of industries. It is shown that over time industries evolve and change their structure. In this dynamic process, change is affected and sometimes constraint by many factors, including knowledge and technologies, the capabilities and incentives of actors, new products and processes, and institutions.
This book presents in its first part the financial determinants of innovation processes considered in a macro-economic perspective, which are limited by short-term constraints, and studies in its second part the linkages existing between the necessity to innovate in order to survive and the constant attention given to financial results.
This book is based on the papers presented at a conference on "New Issues in Industrial Economics" held at Case Western Reserve University, Cleveland, Ohio, June 8-10, 1987. The conference was organized by the Research Program in Industrial Economics (RPIE) in the Department of Economics at CWRU and was sponsored by The Cleveland Foundation, the Eaton Corporation, and The Standard Oil Company (later renamed BP America, Inc.). Their generous support is gratefully acknowledged. All of the papers have been revised, in several cases extensively, since their presentation at the conference. One of the primary reasons for organizing the conference was the concern that Industrial Economics has become too narrowly focused in most academic programs, largely being confined to Industrial Organization, i.e., issues of public policy towards enterprise with emphasis on antitrust and regulatory policy. This subject definition leaves out a number of interesting and important questions about how industries evolve over time, what the role of technological change (and organizational change) is in that process, and the associated structural changes within industries and firms. The object of this book is to derme these issues and suggest a framework within which they can be analyzed. I would like to thank all the conference participants for their contributions, particularly my colleagues at CWRU, Asim Erdilek and William S. Peirce, without whose encouragement and support the conference would not have taken place.
This book discusses both competitive and game theory models of industry growth through new technology, innovations and new entry, and provides a comprehensive treatment of various dynamic models of entry, applications of efficiency and entry models in computers and the pharmaceuticals industry, and applied models of Differential Games.
In the rapidly changing business world, only a small percentage of firms are able to survive and prosper despite recessions, industrial evolutions and economic changes. An often-asked question is: What determines a firm’s sustainable competitive advantage? One of the most popular competitive strategies is partnering with other firms. So: How do firms make intelligent and informed decisions when it comes to selecting business partners, to utilizing available resources and capabilities in partnerships, and to managing relations to maximize partnership benefits? This book studies 300 firms across various industries, providing readers with a comprehensive view of how firms develop sustainable competitive advantages by establishing business partnerships. Young academics and experienced researchers alike will find solid theoretical foundations and fresh business insights.
In this reputable book Professor Morroni has constructed an insightful framework of three decisive factors for organizational coordination: capabilities, transaction, scale-scope. Based on these, he has knitted a splendid tapestry of theoretical and empirical information. This collection must be a standard for the theory of the firm. Yuji Aruka, Chuo University, Japan Organisations, networks and firms are three of the most dynamic areas of economic research. This timely book synthesises these areas in order to analyse emergent phenomena such as spatial clustering, outsourcing, relational complexity and radical technological innovation. A combination of authoritative literature reviews, novel theoretical developments and interesting case study applications makes this book essential reading for both new and established scholars in the field. Mark Casson, University of Reading, UK In recent years, applied studies have shown widespread, profound and increasing heterogeneity across firms in terms of their strategy, organization arrangement and performance. This book investigates the diversity of business firms, offering a picture of the different organizational settings they adopt in their endeavour to cope with increasing competitive pressure. The book addresses critical theoretical issues surrounding corporate governance, organizational design and cooperative relations among firms. Moreover, it provides new evidence on the various forms of outsourcing that are playing an increasingly important role as a consequence of globalization. The contributions collected in this book stress the emergence of a trend towards a reorganization of production that can enhance the transmission, development and maintenance of knowledge in order to sustain long-run competitive advantage. Providing original and pertinent empirical evidence, this book will attract interest from scholars and postgraduate students studying the economics and organization of the firm. It will also be of value to managers who wish to understand new developments in the organizational settings of business firms with particular reference to corporate governance, organizational design, cooperative relations, outsourcing and de-localization.
Innovation and finance are in a symbiotic and twin-track relationship: a well-functioning financial system spurs innovation by identifying and funding stimulating entrepreneurial activities which trigger economic growth. Innovations also open up profitable opportunities for the financial system. These mutual dynamics cause and need innovative adaptations in the financial system in order to better deal with the changing requirements of a knowledge-based economy. The volume comprises different contributions which focus on the central imperative of this evident connection between financial markets and innovation which, despite its importance, is only barely considered in academia, as well in practice so far. The book is about the mutual interdependence of innovation processes and finance. This interdependent relationship is characterized by a high degree of complexity which stems, on the one hand, from the truly uncertain character of innovation and, on the other hand, from the different time scales in both domains. Whereas innovation processes are long-term and experimental, financial markets are interested in shortening time horizons in order to optimize financial investments. Economies which do not manage to align the two realms of their economic system are in danger of ending up in either financial bubbles or economic stagnation. The chapters of this book deal with different aspects of this complex interrelationship between innovation and finance, highlighting, for example the role of stock markets, venture capital and international financial transactions, as well as the historical co-development of the financial and industrial domains. Thus far, the communities in economics dealing with both issues are almost completely disconnected. The book brings together economic research dealing with the interface between innovation and finance and highlights the importance of the Neo-Schumpeterian perspective. This topic is of particular interest in the current economic crisis affecting the Eurozone and its currency. Most of the policy instruments discussed and implemented so far are focused on short-run targets. This discussion of the relationship between innovation and finance suggests a long-run perspective to create new potentials for economic growth and a sustainable way out of the economic crisis.
"This book examines the nature of the process of technological change in different sectors of various countries, analyzing the impact of innovation as well as research and development activities on different outcomes in different fields and assessing the design and impact of policies aimed at enhancing innovation in organizations"--Provided by publisher.
2013 Reprint of 1961 First Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. This work has been cited as one of the most seminal works of the era. Forrester outlines industrial dynamics as an experimental, quantitative philosophy for designing corporate structure and policies that are compatible with an organization's growth and stability objectives. Forrester believes that management systems possess an orderly and identifiable framework that determines the character of industrial and economic behavior. In this volume, he presents for the first time a methodology for detecting and exhibiting this structure for study.
