Debt Restructuring in the Euro Area: a Necessary but Manageable Evil?

There are two possible responses to the Greek debt crisis: ‘Plan A’, continued official lending, for as long as needed, with possible voluntary private sector involvement, and ‘Plan B’, coercive preemptive or post-default restructuring with significant face value reduction in privately-held debt. Both options have risks, but it is necessary to move to Plan B sooner or later. The impact on Greece could be mitigated by foreign bank ownership and proper liquidity support measures. The direct spillover impact on the rest of the euro area seems small. But there is the risk of contagion, which is a serious concern. There is a cautious case for delaying somewhat Plan B in order to prepare for it.

Measuring Organisational Innovation – The Example of the European Community Innovation Survey (CIS)

In the last decade, non-technological and particularly organisational innovations have gained more and more importance and research focus. However, there is no consensus among the academic community either about the definition or about the broader theoretical and methodological foundations of this phenomena. In the present study the authors intend to partly improve this knowledge deficiency syndrome by analysing the most important theoretical contributions of organisational innovation and by reviewing the development in the methodological tools aimed to measure organisational innovation on a European level. By doing so, the authors will focus on the various waves of the Community Innovation Survey (CIS) as an employer-oriented and of the European Working Conditions Survey (EWCS) as an employee-oriented survey. Finally, they will formulate some remarks for further empirical research streams.

Are you ready for a tender project? – Analysis of organisational project management maturity in the Austrian-Hungarian border region

Are you ready for a tender project? – Analysis of organisational project management maturity in the Austrian- Hungarian border region. Since the 1990s the European Union has paid more and more attention to subsidising cross-border development. It is understandable that different funding from proposal sources is particularly important for the border area, especially to those of utmost importance that support co-operation and rural development. Therefore, they could become a driving force for development. The authors’ research analyses the organisational project management maturity of the projects implemented in the frame of the Austria-Hungary Cross-border Cooperation Programme 2007-2013 (AT-HU). Analysing this kind of organisation is an important issue, since the new call for proposals are open in 2016 and the results of this study may provide a self-evaluation opportunity to organisations that need to know if they are ready or mature enough for a new tender project. The aim of this study was twofold. First of all, those indicators that could be used to analyse the project management maturity of implementing organisations in the AT-HU programme were identified. Based on the empirical research these are the project experience accumulated by the organisation, the internal processes operating at the institution and the professional background. Secondly, factors that can affect this project management maturity were explored and we determined five influencing area: the organisational structure, culture, project managers motivation and the typical and important competences.