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.

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.