Legal Economic Institutions Entrepreneurship And Management

The study of dynamics of institutional change in emerging markets are subjects of great interest in contemporary political economy. The dynamics and quality of institutional change can have significant impacts on the long-run performance of economies, economic growth and development of nations, and play a fundamental role in societies. It provides a comprehensive understanding of legal-economic institutions, and sheds light on the way to global peace by producing a better understanding of the dynamics of historical change. Topics range from institutional uncertainty, hybrid market order and labor market institutions, to good governance of institutions and WTO rules as trade institutions, as well as entrepreneurship and institutional change in emerging markets, and the role of modern technologies. This edited volume emphasizes legal-economic institutions, and the role of management and entrepreneurship on dynamics, trends, and implications of institutional change in emerging markets. Presenting research articles by eminent scholars and experts engaged in education and research, who address and discuss the most recent issues in the field, they reveal new insights into the dynamics of institutional change for researchers interested in development of new theories and comparative studies, especially in the era of emerging markets. The book is appealing to a wide range of global audience, can serve as a useful reference work in education and research, offers innovative and productive discussions, and can satisfy scholarly and intellectual interests, regarding institutional development and a broad spectrum of its interactions with functioning of markets and economies.

The aim of this book is to analyze the relationships among entrepreneurship, regional development and culture in the current economy. Using an institutional approach, it examines the main theoretical issues and practices and their effect on different dimensions of society and the economy. Business creation is considered a key element of economic growth, innovation and employment. In recent years, entrepreneurial scholars have studied the factors that affect entrepreneurship and drive economic growth. In doing so, these scholars have aimed to understand what promotes entrepreneurial activity and also how to improve the development of regions or countries to increase wealth in society. The institutional approach can be applied to the entrepreneurship field to understand the phenomenon of entrepreneurship. This view considers the role of environment in the decision to create a company, which is critical to entrepreneurship, innovation and economic growth. Environment relates to legal aspects, public policy and support services (formal institutions) but is especially important in terms of sociocultural context (informal institutions). The creation of new ventures is greatly influenced by culture. Furthermore, it is important to highlight the influence of entrepreneurship on regional development, specifically through job creation, stimulation of economic growth and innovation. Thus, entrepreneurship, regional development and culture are fundamental for understanding economic growth and development as well as other phenomena such as technology transfer or women’s entrepreneurship. Featuring contributions and cases studies from various countries and sectors, this volume provides an essential reference for scholars, academics, and researchers in entrepreneurship, business management, innovation and economics.

Using institutional economics as a theoretical framework, this book analyzes institutional environment conducive to entrepreneurial activity in order to enhance economic performance across countries. In particular, the main contributions of this book to the entrepreneurship literature are the following: • Identify past and current research about the institutional context shaping entrepreneurial activity and its effect on economic growth • Examine social progress orientation as those institutional factors that are shaping innovative entrepreneurial activity • Explore the effect of different types of entrepreneurial activities on economic growth • Examine how social progress orientation through opportunity-driven entrepreneurship affects economic development • Analyze the interrelationships between institutions, entrepreneurial activity and economic development across countries • Study how the country's institutional context influences the way in which entrepreneurial activity affects social progress Two sides of the same coin might be observed when analyzing policy aspects of those institutions affecting entrepreneurial activity. On the one hand, effective public policy to promote entrepreneurship is predicated on understanding the underlying forces as well as the consequences and impacts of entrepreneurship. On the other hand, different endeavors to promote entrepreneurial activity might have deleterious economic effects since they could actually reduce employment in the long-term. Thus, it is crucial to understand the institutional environment in which entrepreneurs are interacting and making decisions. The comprehension of these phenomena serves to move forward the theoretical, practical and policy debate on entrepreneurship as a mechanism to achieve higher economic performance.

'This is an ambitious and a highly academic text.' – Economic Outlook and Business Review 'I can with no hesitation very strongly recommend this work to anybody with an interest in the theory of economic organization and international business.' – Nicolai Foss, Journal of International Business Studies 'This book provides a useful analysis of economic institutions aimed at practitioners in business and management as well as economists.' – Aslib Book Guide Economic institutions such as firms, markets, governments and voluntary organizations have a crucial impact on the competitiveness of national economies. Research on economic institutions is growing rapidly, but unfortunately it often focuses on narrow issues concerning legal systems and transaction costs. This book offers a broader perspective and important practical insights into economic institutions, focusing on dynamic issues such as entrepreneurship and ethical leadership, which are crucial to institutional growth. Extending the work of his previous books, The Entrepreneur and The Economics of Business Culture, Mark Casson analyses economic institutions from an integrated social science perspective. This perspective is based on the rational action principle of mainstream economics, modified to allow for endogenous preferences and information costs. Combining plausible assumptions with analytical rigour, the integrated approach offers important new insights into a wide range of issues, including the growth of firms, family business, regional business networks, international business elites, and the influence of cultural values on long-run economic growth. The integrated social science approach has implications for all the social sciences, and so the book is addressed to both business and management practitioners as well as scholars from a wide range of disciplines.

Examines how the institutional environment affects entrepreneurial organizations, and vice-versa.

New institutional economics (NIE) is a powerful tool for understanding real world phenomena. This Advanced Introduction explores NIE’s answers to fundamental questions about the organization, growth and development of economies, such as why are some countries rich and others poor? Why are activities organized as firms or markets or through alternative organizational solutions? When are shared resources overexploited?

Ancient Rome is the only society in the history of the western world whose legal profession evolved autonomously, distinct and separate from institutions of political and religious power. Roman legal thought has left behind an enduring legacy and exerted enormous influence on the shaping of modern legal frameworks and systems, but its own genesis and context pose their own explanatory problems. The economic analysis of Roman law has enormous untapped potential in this regard: by exploring the intersecting perspectives of legal history, economic history, and the economic analysis of law, the two volumes of Roman Law and Economics are able to offer a uniquely interdisciplinary examination of the origins of Roman legal institutions, their functions, and their evolution over a period of more than 1000 years, in response to changes in the underlying economic activities that those institutions regulated. Volume I explores these legal institutions and organizations in detail, from the constitution of the Roman Republic to the management of business in the Empire, while Volume II covers the concepts of exchange, ownership, and disputes, analysing the detailed workings of credit, property, and slavery, among others. Throughout each volume, contributions from specialists in legal and economic history, law, and legal theory are underpinned by rigorous analysis drawing on modern empirical and theoretical techniques and methodologies borrowed from economics. In demonstrating how these can be fruitfully applied to the study of ancient societies, with due deference to the historical context, Roman Law and Economics opens up a host of new avenues of research for scholars and students in each of these fields and in the social sciences more broadly, offering new ways in which different modes of enquiry can connect with and inform each other.

Grounded in history and written by a law professor, this book is a scholarly yet jargon-free explanation of the differences between the common and civil law concepts of the rule of law, and details how they developed out of two different cultural views of the relationships between law, individuals, and government. The author shows how those differences lead to differences in economic development, entrepreneurship, and corporate governance.