How Does a Development Moratorium Affect Development Timing Choices and Land Values?

This paper investigates how a development moratorium affects choices of development timing and land values in a framework where both the value of developed property evolves stochastically and the development costs are fully irreversible. We assume that a regulator initially announces that land is not allowed to be developed during a finite period of time in the future. A developer, thus, must decide whether to develop land before the timing ordinance is imposed, or after it expires. The development moratorium reduces the developer’s option value from waiting and, thus, accelerates development. We also use simulation analysis to demonstrate how the other factors that relate to the demand and supply conditions of the real estate market affect this accelerating effect.     

State‐owned Enterprises: NWSC's Turnaround in Uganda

Abstract: Oversight agencies in the water sector emphasize performance monitoring based on outputs, such as customers served, volume delivered, and service quality. However, bureaucratic tendencies can curtail operational innovation and creativity. In situations where managers lack full operating knowledge and capacities, proactive and consultative monitoring and regulation can yield benefits. This study reviews the results of Uganda's National Water and Sewerage Corporation's (NWSC) approach to performance monitoring (and ‘self‐regulation’). The purpose of this study is to outline corrective actions undertaken by the NWSC Management and Staff to turn around performance, the sequencing of those steps, and the outcomes from this reform program. The NWSC focuses on promoting improvements in technical processes and input selection. Improvements in service quality and network expansion resulted from aligning performance improvement initiatives with the organization's financial performance and team development. The program's success required managing organizational rigidities and moving towards full cost‐recovery. In particular, organizational incentives and information flows encouraged managers to reduce rules and procedures that hindered strong performance. African proverbs are interspersed throughout the article to underscore key themes and lessons for those designing, implementing, and evaluating infrastructure sector reform initiatives.     

Managers’ Corporate Entrepreneurial Actions and Job Satisfaction

Through the development and extension of theories and scholars’ subsequent empirical analyses of significant, theoretically grounded research questions, the knowledge about corporate entrepreneurship (CE) and its successful use continues to advance. Moreover, the literature suggests important relationships between the corporate environment, managers’ entrepreneurial behavior and successful implementation of corporate entrepreneurship actions. In an attempt to test some of those relationships, we describe an empirical study of 523 managers that examines the relationships among the antecedents to managers’ entrepreneurial behavior, a decision to implement entrepreneurial actions, and resulting job satisfaction and reinforcement practices.     

Structuring Corporate Headquarters: An Investigation of Franchising

This article focuses on the structuring of the corporate headquarters in a franchise organization. Four essential issues that are related to franchisors organizational structure are discussed—homogeneity and heterogeneity of franchisors structure, company-owned and franchise arrangement, the dynamics between strategy and structure, and performing innovative and administrative functions simultaneously in the headquarters. Propositions are given for each issue. The results of qualitative analysis associated with each issue are discussed.     

University Students’ Attitudes Towards Entrepreneurship: A Two Countries Comparison

There is general agreement that attitudes towards the entrepreneur, entrepreneurial activity, and its social function are determinant factors for university students to decide an entrepreneurial career.This empirical study aims at assessing and comparing the attitudes of university students towards entrepreneurship and enterprise formation in Catalonia and Puerto Rico, using a sample of 837 and 435 students, respectively.Results reveal a positive entrepreneur’s image. Both samples have a favorable perception of desirability of new venture creation, although the perception of feasibility is by far not so positive and only a small percentage has the firm intention to create a new company.