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Why do management practices differ across firms and countries?
Bloom, Nick; Van Reenen, John - London School of Economics (LSE) - 2010
Economists have long puzzled over the astounding differences in productivity between firms and countries. For example, looking at disaggregated data on U.S. manufacturing industries, Syverson (2004a) found that plants at the 90th percentile produced four times as much as the plant in the 10th...
Persistent link: https://www.econbiz.de/10010745216
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Relational knowledge transfers
Garicano, Luis; Rayo, Luis - London School of Economics (LSE) - 2013
An expert must train a novice. The novice initially has no cash, so he can only pay the expert with the accumulated surplus from his production. At any time, the novice can leave the relationship with his acquired knowledge and produce on his own. The sole reason he does not is the prospect of...
Persistent link: https://www.econbiz.de/10010745330
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Access to finance: a functional approach to supply and demand
Fischer, Gregory - London School of Economics (LSE) - 2011
This paper provides a comprehensive description of the financial environment for households and small businesses in a defined geographical region. It develops a new, functional approach to financial access surveys, which involves asking detailed questions about how respondents meet their...
Persistent link: https://www.econbiz.de/10011071530
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Financial structure, managerial compensation and monitoring
Cerasi, Vittoria; Daltung, Sonja - London School of Economics (LSE) - 2006
When a firm has external debt and monitoring by shareholders is essential, managerial bonuses are shown to be an optimal solution. A small managerial bonus linked to firm's performance not only reduces moral hazard between managers and shareholders, but also between creditors and monitoring...
Persistent link: https://www.econbiz.de/10010746076
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A general framework for analysing endogenous trade divergences
Walsh, Patrick - London School of Economics (LSE) - 1991
determined by the maximum potential profitability of the home industry. It is argued that interpretations based on ?profit …
Persistent link: https://www.econbiz.de/10010884498
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The interrelationship between HR, strategy and profitability in service SMEs: empirical evidence from the UK tourism hospitality and leisure sector
Georgiadis, Andreas; Pitelis, Christos N. - London School of Economics (LSE) - 2010
We investigate the strategies, HR attributes and their synergies that are associated with superior performance in service SMEs using data from the UK Tourism Hospitality and Leisure (THL) sector. A major advantage of our analysis is that our sample includes information also on very small firms...
Persistent link: https://www.econbiz.de/10010884576
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The impact of the diffusion of a financial innovation on company performance: an analysis of SWIFT adoption
Scott, Susan V.; Zachariadis, Markos - London School of Economics (LSE) - 2010
1,689 SWIFT adopters) between 1998 and2005. We find that adoption appears to have large effects on profitability, but it … between new technologies and firm organization. The profitability effectoperates by both raising sales and decreasing …
Persistent link: https://www.econbiz.de/10010744922
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Minimum wages and firm profitability
Draca, Mirko; Machin, Stephen; Van Reenen, John - London School of Economics (LSE) - 2006
other aspects of firm behaviour. In this paper we consider the impact of minimum wages on firm profitability by exploiting … firm profitability was significantly reduced (and wages significantly raised) by the minimum wage introduction. This … residential care homes, and a second on firms across all sectors). Interestingly, we find no evidence that the profitability …
Persistent link: https://www.econbiz.de/10010746021