Modern Concepts of the Theory of the Firm

Manfred Schlüter, geboren 1953, lebt in Hillgroven an der Nordsee. Er ist ausgebildeter Tiefdruck-Retuscheur und hat Grafik-Design studiert. Seit 1976 arbeitet er als freier Graphiker und Maler, seit 1980 illustriert er Bücher.Prof. Dr. Dr. h.c. Günter Fandel ist Hochschullehrer an der FernUniversität in Hagen und Editor-in-Chief der Zeitschrift für Betriebswirtschaft.Prof. Dr. Uschi Backes-Gellner ist Leiterin des Seminars für Allgemeine Betriebswirtschaftslehre und Personalwirtschaft an der Universität zu Köln.

This volume contains the results of the International Conference on "Man aging Enterprises ofthe New Economy by Modem Concepts ofthe Theory ofthe Firm", which took place in Hagen from 12-14 December 2002. The conference was organised jointly by the FernUniversität in Hagen and the Erich-Gutenberg-Arbeitsgemeinschaft in Cologne. The Deutsche For schungsgemeinschaft, the FernUniversität and the Märkische Bank in Hagen provided generous financial support for the conference, and in fact enabled its implementation and the publication of this record of the pro ceedings. We would like to express our gratitude to the sponsors for their support. The aim of the conference was the exchange of academic experience with regard to new approaches to, and extensions of, the theory of the firm that can be used to solve the problems of New Economy companies. The starting point was the practical experience that the owners and managers of New Economy companies paid too little attention to functional company controls in the general euphoria regarding future economic trends and that because of this the enterprises got into difficulties or were faced with threats to their survival. These control deficits were detected equally in the areas of sales, production, personnel planning, organisation and finance and in the arrangement of management and control structures. Deficiencies in company evaluations and accounting led to investors experiencing se vere disappointment on the loss of their invested capital.

Includes supplementary material: sn.pub/extras

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.