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Globalization and the 'New Enterprise'
Marin, Dalia; Verdier, Thierry - C.E.P.R. Discussion Papers - 2002
Globalization has been identified by many experts as a new way firms organize their activities. This Paper surveys recent work that examines the role of trade integration between similar and dissimilar countries for these changes in corporate organization. It is shown that international...
Persistent link: https://www.econbiz.de/10005662173
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Managerial Incentives and the International Organization of Production
Grossman, Gene; Helpman, Elhanan - C.E.P.R. Discussion Papers - 2003
prevalence of outsourcing and foreign direct investment. …
Persistent link: https://www.econbiz.de/10005666433
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Resource Allocation and Firm Scope
Friebel, Guido; Raith, Michael - C.E.P.R. Discussion Papers - 2006
We develop a theory of firm scope in which integrating two firms into one facilitates the allocation of resources, but … leads to weaker incentives for effort, compared with non-integration. Our theory makes minimal assumptions about the … division managers. The division managers' job is to create profitable investment projects. Giving the managers incentives to do …
Persistent link: https://www.econbiz.de/10005666612
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Power Inside the Firm and the Market: a General Equilibrium Approach
Marin, Dalia; Verdier, Thierry - C.E.P.R. Discussion Papers - 2002
Recent years have witnessed an enormous amount of reorganization of the corporate sector in the US and in Europe. This paper examines the role of market competition for this trend in corporate reorganization. We find that at intermediate levels of competition the CEO of the corporation decides...
Persistent link: https://www.econbiz.de/10005666870
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Soft Budget Constraint Theories: From Centralization to the Market
Maskin, Eric; Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2001
theory sheds light on financial crises and economic growth. …
Persistent link: https://www.econbiz.de/10005667038
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The Influence of the Financial Revolution on the Nature of Firms
Rajan, Raghuram G; Zingales, Luigi - C.E.P.R. Discussion Papers - 2001
Major technological, regulatory, and institutional changes have made finance more widely available in recent years, amounting to a bona fide ‘financial revolution’. In this article, we focus on the impact the financial revolution has had on the way firms are (or should be) organized and...
Persistent link: https://www.econbiz.de/10005789143
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Competing in Organizations: Firm Heterogeneity and International Trade
Marin, Dalia; Verdier, Thierry - C.E.P.R. Discussion Papers - 2007
This paper develops a theory which investigates how firms' choice of corporate organization is affecting firm …
Persistent link: https://www.econbiz.de/10005791677
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Joint Production in Teams
Battaglini, Marco - C.E.P.R. Discussion Papers - 2004
Consider Holmström.s moral hazard in teams problem when there are n agents, each agent i has a a(i)-dimensional strategy space and output can be m-dimensional. We show that a compensation mechanism that satisfies budget balance, limited liability and implements an efficient allocation...
Persistent link: https://www.econbiz.de/10005791765
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Relational Contracts and Property Rights
Blonski, Matthias; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2002
co-operative behavior (e.g. efficient investment) in long-run relationships. We generalize models by Garvey (1995 …), Halonen (2002), and Baker, Gibbons and Murphy (2002) and compare their results in the light of our theory, going in depth into ….e. does not maximize the set of discount factors under which efficient investment can be supported in equilibrium of the …
Persistent link: https://www.econbiz.de/10005792045
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What are Firms? Evolution from Birth to Public Companies
Kaplan, Steven; Sensoy, Berk A.; Strömberg, Per Johan - C.E.P.R. Discussion Papers - 2005
We study how firm characteristics evolve from early business plan, to initial public offering, to public company for 49 venture capital financed companies. The average time elapsed is almost six years. We describe the financial performance, business idea, point(s) of differentiation, non-human...
Persistent link: https://www.econbiz.de/10005792538