Showing 1 - 10 of 121
Dynastic management is the inter-generational transmission of control over assets that is typical of family-owned firms …. It is pervasive around the World, but especially in developing countries. We argue that dynastic management is a … incidence of dynastic management depends on the severity of asset-market imperfections, on the economy's saving rate, and on the …
Persistent link: https://www.econbiz.de/10012469259
that the law constrains managerial majority shareholders, both in their day-to-day management and when they redeem the …
Persistent link: https://www.econbiz.de/10012472048
This paper documents for a sample of 327 US acquisitions between 1975 and 1987 three forces that systematically reduce the announcement day return of bidding firms. The returns to bidding shareholders are lower when their firm diversifies, when it buys a rapidly growing target , and when the...
Persistent link: https://www.econbiz.de/10012476048
/supervisory practices and "tough" management opposition to unionism. - that a high innate propensity for a union victory deters management … management opposition, reflected in diverse forms of behavior, is a key component in the on-going decline in private sector …
Persistent link: https://www.econbiz.de/10012476253
We investigate the relation between management ownership and corporate performance, as measured by Tobin's Q. In a …
Persistent link: https://www.econbiz.de/10012477014
The allocation of decision rights within organizations influences resource allocation, expansion decisions, and ultimately outcomes. Using a newly constructed dataset, I estimate the effects of an earned autonomy program for State Owned Enterprises (SOEs) in India. The program gave managers (the...
Persistent link: https://www.econbiz.de/10012480249
Tracking the movement of top managers across firms, we document the importance of manager-specific fixed effects in explaining heterogeneity in firm exposures to systematic risk. These differences in systematic risk are partially explained by managers' corporate strategies, such as their...
Persistent link: https://www.econbiz.de/10012481342
China's economic model involves active government intervention in financial markets. We develop a theoretical framework in which interventions prevent a market breakdown and a volatility explosion caused by the reluctance of short-term investors to trade against noise traders. In the presence of...
Persistent link: https://www.econbiz.de/10012481754
the baseline setting remain intact. Our results shed light on the extensive discussion of confidence management in firms …
Persistent link: https://www.econbiz.de/10012481769
We study the processes of firm growth in the evolution of the Japanese cotton spinning industry during 1883-1914 by integrating strategy and historical approaches and utilizing rich quantitative firm-level data and detailed business histories. The resultant conceptual model highlights growth...
Persistent link: https://www.econbiz.de/10012452978