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 …' incentives. The resulting tradeoff between a better use of resources and diminished incentives for effort determines whether …

same firm. However, family managers face weaker incentives than professional managers as seen in the lower sensitivity of …

This paper compares centralized and decentralized coordination when managers are privately informed and communicate … for coordination improves horizontal communication but worsens vertical communication. As a result, no matter how … important coordination is, decentralization dominates centralization if the division managers are not too biased towards their …

, and illuminated an important role for markets in providing incentives. In this essay, I discuss some new directions that …

This paper studies the effect of changes in foreign competition on the incentives faced by U.S. managers in the form of …

costs of exclusion. Accounting for the observation that buyers are more likely to accept an exclusive deal the higher is the …

Organizations fail due to incentive problems (agents do not want to act in the organization's interests) and bounded …