{"id":6435,"date":"2025-06-10T14:09:50","date_gmt":"2025-06-10T12:09:50","guid":{"rendered":"https:\/\/conferences.euram.academy\/2025conference\/?page_id=6435"},"modified":"2025-06-11T15:20:59","modified_gmt":"2025-06-11T13:20:59","slug":"euram-online-paper-session-12-june","status":"publish","type":"page","link":"https:\/\/conferences.euram.academy\/2025conference\/euram-online-paper-session-12-june\/","title":{"rendered":"EURAM Online Paper Session 12 June"},"content":{"rendered":"<div id='full_slider_1'  class='avia-fullwidth-slider main_color avia-shadow   avia-builder-el-0  el_before_av_one_full  avia-builder-el-first   container_wrap sidebar_right'  ><div  class='avia-slideshow av-lvf15ycc-f3530e26ca47a2e87702c2ab5e48c2e7 avia-slideshow-no scaling av_slideshow_full avia-fade-slider av-slideshow-ui av-control-hidden av-no-slider-navigation av-hide-nav-arrows av-slideshow-autoplay av-loop-endless av-loop-manual-endless av-default-height-applied   avia-slideshow-1' 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title='banner-1100_264px2' alt=''  itemprop=\"thumbnailUrl\"   \/><\/div><\/li><\/ul><div class='avia-slideshow-arrows avia-slideshow-controls' ><a href='#prev' class='prev-slide  avia-svg-icon avia-font-svg_entypo-fontello' data-av_svg_icon='left-open-big' data-av_iconset='svg_entypo-fontello' tabindex='-1' title=\"Previous\"><svg version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"15\" height=\"32\" viewBox=\"0 0 15 32\" preserveAspectRatio=\"xMidYMid meet\" aria-labelledby='av-svg-title-1' aria-describedby='av-svg-desc-1' role=\"graphics-symbol\" aria-hidden=\"true\">\n<title id='av-svg-title-1'>Previous<\/title>\n<desc id='av-svg-desc-1'>Previous<\/desc>\n<path d=\"M14.464 27.84q0.832 0.832 0 1.536-0.832 0.832-1.536 0l-12.544-12.608q-0.768-0.768 0-1.6l12.544-12.608q0.704-0.832 1.536 0 0.832 0.704 0 1.536l-11.456 11.904z\"><\/path>\n<\/svg><span class='avia_hidden_link_text'>Previous<\/span><\/a><a href='#next' class='next-slide  avia-svg-icon 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post-entry-type-page post-entry-6435'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-106mv-353b089b00e8dfa4ad5217171139509e\">\n.flex_column.av-106mv-353b089b00e8dfa4ad5217171139509e{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-106mv-353b089b00e8dfa4ad5217171139509e av_one_full  avia-builder-el-1  el_after_av_slideshow_full  el_before_av_hr  avia-builder-el-first  first flex_column_div av-zero-column-padding  '     ><style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-k9xz8467-45e7c32c6adce09e4edc6ed51211bedc\">\n#top .av-special-heading.av-k9xz8467-45e7c32c6adce09e4edc6ed51211bedc{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-k9xz8467-45e7c32c6adce09e4edc6ed51211bedc .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-k9xz8467-45e7c32c6adce09e4edc6ed51211bedc .av-subheading{\nfont-size:17px;\n}\n<\/style>\n<div  class='av-special-heading av-k9xz8467-45e7c32c6adce09e4edc6ed51211bedc av-special-heading-h2  avia-builder-el-2  avia-builder-el-no-sibling '><h2 class='av-special-heading-tag '  itemprop=\"headline\"  >Keynote &#8211; EURAM Online Paper Session 12 June<\/h2><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-k9wjlitg-8ac3715435e2441147dd333dad6f448e\">\n#top .hr.hr-invisible.av-k9wjlitg-8ac3715435e2441147dd333dad6f448e{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-k9wjlitg-8ac3715435e2441147dd333dad6f448e hr-invisible  avia-builder-el-3  el_after_av_one_full  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<section  class='av_textblock_section av-k9wjkwok-5429ebdcddcad86427476aaa39dd43f0 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><p style=\"text-align: justify;\">Keynote: <strong>Rebecca M. Henderson<\/strong>.<\/p>\n<p style=\"text-align: justify;\">Theme of her presentation: <strong>The Economics of Purpose Driven Management<\/strong><\/p>\n<p style=\"text-align: justify;\">Time: <strong>12:30 \u2013 01:30 pm CEST<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong><a href=\"https:\/\/conferences.euram.academy\/2025conference\/wp-content\/uploads\/sites\/10\/2025\/06\/WhatsApp-Image-2025-06-11-at-14.44.23.jpeg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-6451\" src=\"https:\/\/conferences.euram.academy\/2025conference\/wp-content\/uploads\/sites\/10\/2025\/06\/WhatsApp-Image-2025-06-11-at-14.44.23.jpeg\" alt=\"\" width=\"178\" height=\"178\" srcset=\"https:\/\/conferences.euram.academy\/2025conference\/wp-content\/uploads\/sites\/10\/2025\/06\/WhatsApp-Image-2025-06-11-at-14.44.23.jpeg 178w, https:\/\/conferences.euram.academy\/2025conference\/wp-content\/uploads\/sites\/10\/2025\/06\/WhatsApp-Image-2025-06-11-at-14.44.23-80x80.jpeg 80w, https:\/\/conferences.euram.academy\/2025conference\/wp-content\/uploads\/sites\/10\/2025\/06\/WhatsApp-Image-2025-06-11-at-14.44.23-36x36.jpeg 36w\" sizes=\"auto, (max-width: 178px) 100vw, 178px\" \/><\/a>Rebecca M. Henderson<\/strong>, a distinguished professor at Harvard Business School and research fellow at the National Bureau of Economic Research, advocates for a <strong>fundamental reimagining of capitalism<\/strong>. Her work emphasizes balancing the power of the free market with effective government and a robust civil society to address major societal challenges like climate change, inequality, and systemic exclusion.<\/p>\n<p style=\"text-align: justify;\">A core tenet of her research is the need to <strong>change the purpose of the firm<\/strong> from merely maximizing shareholder value to &#8220;<strong>solving public problems profitably and avoiding creating new problems<\/strong>&#8220;. Henderson argues that purpose-driven firms can become catalysts for systemic change, supporting transformation within industries, fostering public-private cooperation, and strengthening global democracy. These firms are also more likely to implement &#8220;high-commitment employment systems,&#8221; characterized by better wages and respectful employee treatment.<\/p>\n<p style=\"text-align: justify;\">Henderson\u2019s work extensively explores <strong>&#8220;relational contracts&#8221;<\/strong> within organizations. These are informal agreements, unlike formal legal contracts, that rely on future interactions for their enforcement&#8230;. She posits that many competitively significant management practices, such as inspiring employees to &#8220;use good judgment&#8221; or &#8220;continuously improve,&#8221; depend crucially on these uncodified agreements.<\/p>\n<p style=\"text-align: justify;\">Building and maintaining these relational contracts presents significant challenges, primarily revolving around two intertwined problems: <strong>credibility<\/strong> (persuading others that promises will be kept) and <strong>clarity<\/strong> (ensuring promises are understood). Henderson highlights that clarity can be difficult and time-consuming to develop, and its interaction with credibility can create substantial barriers to successful implementation. Empirical findings from her research suggest that interventions focused solely on changing relational contracts can directly influence firm performance, indicating that managers <em>can<\/em> indeed alter these deep-seated agreements, though it is a costly and time-consuming process.<\/p>\n<\/div><\/section>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2ojveq-eccbf4a9dbe794b81c668e599fc1c36c\">\n#top .hr.hr-invisible.av-2ojveq-eccbf4a9dbe794b81c668e599fc1c36c{\nheight:10px;\n}\n<\/style>\n<div  class='hr av-2ojveq-eccbf4a9dbe794b81c668e599fc1c36c hr-invisible  avia-builder-el-5  el_after_av_textblock  avia-builder-el-last '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-6435","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/pages\/6435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/comments?post=6435"}],"version-history":[{"count":5,"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/pages\/6435\/revisions"}],"predecessor-version":[{"id":6450,"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/pages\/6435\/revisions\/6450"}],"wp:attachment":[{"href":"https:\/\/conferences.euram.academy\/2025conference\/wp-json\/wp\/v2\/media?parent=6435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}