Modern Concepts of the Theory of the Firm

The authors analyse the New Economy from a scientific point of view. The success and the failure of enterprises of the new economy form a challenge to the modern business management and to the theory of the firm. This conference transcript answers the question in which way well-established concepts of the theory of the firm should be modified or new approaches should be created, in order to run enterprises of the new economy successfully. The discussion includes various fields of the theory of the firm and is therefore divided into the six essential disciplines of economic research, which are Production and Procurement, Finance, Marketing, Accounting, Human Resource Management and Economic Organization and Corporate Governance. The international orientation of the book addresses the world-wide scientific community.

Section 1: Corporate Governance.- Corporate Governance - Large and Small Corporations, Agents, Principals, Competitors.- A New Management under IT Revolution in Japan.- Section 2: Marketing.- Relative Advantages of E-Business Start-Ups versus Integrated Units of Bricks-and-Mortar Companies.- E-Business Performance: A Latent Class Examination.- Success Factors of Internet-Based Business Models.- From the Old Economy towards the New Economy: Managing the Transformation from the Marketing Point of View.- Mining Product Configurator Data.- Multi-Channel Management and its Impact on Customers' Purchase Behavior.- Section 3: Production and Procurement.- E-Business in Production and Procurement - Some Theoretical Perspectives.- E-Business Strategies in the Mechanical Engineering Industry: An Approach to Explanations of Current Trends in E-Business Diffusion.- Elements of the Production of Services.- Strategic Supply Chain Management: A New Approach to Analyze Product Life Cycles.- An Analysis of Service Output Based on Production Theory.- E-Business and New Forms of Collaboration along the Supply Chain.- Capabilities of the Firm and their Effect on Performance - Production of Information and Communication Technology Services as an Example.- The Transaction Costs of eProcurement.- A Complexity-Based Approach to Production Management in the New Economy.- Advanced Planning Systems - Basics and beyond.- Hierarchical Planning Structures in Supply Chain Management.- Section 4: Human Resource Management and Economic Organization.- Firm Foundations and Human Capital Investments: The O-Ring Approach to Organizational Equilibrium in an Emerging Industry.- Training Strategies and Remuneration Systems of Enterprises of the New and Old Economy - Similarities and Disparities.-Training: A Strategic Enterprise Decision?.- Section 5: Finance.- Some New Properties of Risk Measures.- Discovery in the New Economy - Why Entrepreneurs may not Contract with Investors.- Japan's Venture Capital Market from an Institutional Perspective.- Structural Analysis of Multinational Network Organizations.- Portfolio Return Characteristics of Different Industries.- Valuation of Growth Companies and Growth Options.- Shareholder Value at Risk as an Instrument of Company Valuation.- Valuation of Intangible Assets for Financial Reporting.- Are Stars Worth their Pay?.- Section 6: Accounting.- A Tale of two Bubbles: A Preliminary Look at the US Internet and Biotechnology Bubbles.- Communicating Intangible Resources for the Capital Market.- Business Valuation in the New Economy - Back to the Basics.- New Financial Accounting Standards for the New Economy? - Some Remarks on the Ongoing Debate -.- Controlling the Assets of the New Economy ...and not only the New Economy.- The Valuation of Intangibles in New Economy Firms.- Value Reporting(TM) New Trends in Corporate Reporting.- List of Contributors.