Showing 1 - 10 of 19
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
1.Why do firms in the same industry adopt different management practices? …2.Does the adoption of a new management practice raise productivity? …3.If so, why does the new management practice raise productivity? …
Persistent link: https://www.econbiz.de/10012463034
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
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
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
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
benchmark substantially mitigates the utility costs of decentralized investment management. These costs can be further reduced …
Persistent link: https://www.econbiz.de/10012466511
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
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The market timing and catering approach views managerial financing and investment decisions as rational managerial responses to securities mispricing. The managerial biases approach...
Persistent link: https://www.econbiz.de/10012461325
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