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Do Well Managed Firms Make Better Forecasts?

Bloom, Nicholas; Kawakubo, Takafumi; Meng, Charlotte; … - National Bureau of Economic Research - 2021

We link a new UK management survey covering 8,000 firms to panel data on productivity in manufacturing and services …. There is a large variation in management practices, which are highly correlated with productivity, profitability and size …

Persistent link: https://www.econbiz.de/10012794618

Information Aggregation, Investment, and Managerial Incentives

Albagli, Elias - 2011

We study the interplay of share prices and firm decisions when share prices aggregate and convey noisy information about fundamentals to investors and managers. First, we show that the informational feedback between the firm's share price and its investment decisions leads to a systematic...

Persistent link: https://www.econbiz.de/10012461328

Matching Firms, Managers and Incentives

Bandiera, Oriana - 2011

We exploit a unique combination of administrative sources and survey data to study the match between firms and managers. The data includes manager characteristics, such as risk aversion and talent; firm characteristics, such as ownership; detailed measures of managerial practices relative to...

Persistent link: https://www.econbiz.de/10012461966

The State of Corporate Governance Research

Bebchuk, Lucian A. - 2009

This paper, which introduces the special issue on corporate governance co-sponsored by the Review of Financial Studies and the National Bureau of Economic Research (NBER), reviews and comments on the state of corporate governance research. The special issue features seven papers on corporate...

Persistent link: https://www.econbiz.de/10012463112

Does Corporate Governance Matter in Competitive Industries?

Giroud, Xavier - 2009

By reducing the threat of a hostile takeover, business combination (BC) laws weaken corporate governance and increase the opportunity for managerial slack. Consistent with the notion that competition mitigates managerial slack, we find that while firms in non-competitive industries experience a...

Persistent link: https://www.econbiz.de/10012463770

Innovation and Institutional Ownership

Aghion, Philippe - 2009

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...

Persistent link: https://www.econbiz.de/10012463878

Modern Management : Good for the Environment or just Hot Air?

Bloom, Nicholas - 2008

We use an innovative methodology to measure management practices in over 300 manufacturing firms in the UK. We then … match this management data to production and energy usage information for establishments owned by these firms. We find that … relation to other factor inputs. This is quantitatively substantial: going from the 25th to the 75th percentile of management …

Persistent link: https://www.econbiz.de/10012464253

Managerial Incentives and Value Creation : Evidence from Private Equity

Leslie, Phillip - 2008

We analyze the differences between companies owned by private equity (PE) investors and similar public companies. We document that PE-owned companies use much stronger incentives for their top executives and have substantially higher debt levels. However, we find little evidence that PE-owned...

Persistent link: https://www.econbiz.de/10012464317

Measuring and Explaining Management Practices Across Firms and Countries

Bloom, Nick - 2006

We use an innovative survey tool to collect management practice data from 732 medium sized manufacturing firms in the …-level productivity, profitability, Tobin's Q, sales growth and survival rates. Management practices also display significant cross … tail of extremely badly managed firms. We find that poor management practices are more prevalent when (a) product market …

Persistent link: https://www.econbiz.de/10012466452

Optimal Decentralized Investment Management

van Binsbergen, Jules H. - 2006

benchmark substantially mitigates the utility costs of decentralized investment management. These costs can be further reduced …

Persistent link: https://www.econbiz.de/10012466511