Globalisierung und Deregulierung bringen den Unternehmen in vielerlei Hinsichtneue Möglichkeiten, ihr wirtschaftliches Handeln zu optimieren. Aber sowie durch diesen schnellen Wandel und die steigende Komplexität von Geschäftenmehr Optionen entstehen, werden auch immer mehr neuartige...

Stock option grants to top managers have largely contributed to the dramatic increase in US executive pay in recent years. In this paper it is argued that stock options, compared to other forms of compensation, have created strong incentives for managers to engage in lobbyingactivities for...

In this paper, we investigate how changes in the skill mix of local labor supply are absorbedby the economy. We distinguish between three adjustment mechanisms: through factorprices, through an expansion in the size of those production units that use the moreabundant skill group more...

The main objective of this study is to investigate the impact of corporate R&D activities onfirms’ performance, measured by labour productivity. To this end, the stochastic frontiertechnique is applied, basing the analysis on a unique unbalanced longitudinal datasetconsisting of 532 top...

This paper presents a framework to analyze the potential changes in transaction costs due to theintroduction of e-commerce on transactions between businesses. It then illustrates and applies thisframework using internal data from an Internet-based firm to measure process improvements,marketplace...

Compulsory licensing allows firms in developing countries to produce foreign-owned inventions withoutthe consent of foreign patent owners. This paper uses an exogenous event of compulsory licensingafter World War I under the Trading with the Enemy Act to examine the long run effects of...

We discuss political economy mechanisms which can explain the resource curse,in which an increase in the size of resource rents causes a decrease in the economy’stotal value added. We identify a number of channels through which resource rentswill alter the incentives of a political leader....

In this paper we review as well as contribute to the empirical literature on the impact of landreform on agricultural productivity in India. We find that, overall for all states, land-reform legislation had anegative and significant effect on agricultural productivity. However, this hides...

We present evidence on the effect of social connections between workers and managerson productivity in the workplace. To evaluate whether the existence of social connections isbeneficial to the firm’s overall performance, we explore how the effects of social connectionsvary with the strength...

This paper provides the first empirical test of the diversification of opinions theory and the groupshift theory using real business data. Our data set covers management teams and single managersof US equity mutual funds. Our results reject the group shift theory and support thediversification...