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Information Production and Capital Allocation : Decentralized vs. Hierarchical Firms
Stein, Jeremy C. - 2000
costlessly hardened' and passed along within the hierarchy. As a concrete application of the theory, the paper discusses the …, this is exactly what the theory would lead one to expect …
Persistent link: https://www.econbiz.de/10012471056
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Organization and Inequality in a Knowledge Economy
Garicano, Luis - 2005
We present a theory of the organization of work in an economy where knowledge is an essential input in production: a … may produce on their own or in organizations. Our theory generates an assignment of workers to positions, a wage structure … referral markets. We use our theory to study the impact of information and communication technology, and contrast its …
Persistent link: https://www.econbiz.de/10012467222
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From Sectoral to Functional Urban Specialization
Duranton, Gilles - 2002
Striking evidence is presented of a previously unremarked transformation of urban structure from mainly sectoral to mainly functional specialization. We offer an explanation showing that this transformation is inextricably interrelated with changes in firms' organization. A greater variety of...
Persistent link: https://www.econbiz.de/10012469599
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An Empirical Framework for Testing Theories About Complimentarity in Organizational Design
Athey, Susan - 1998
This paper studies alternative empirical strategies for estimating the effects of organization design practices on performance, as well as the factors which determine organizational design, in a cross-section of firms. Our economic model is based on a firm where multiple organizational design...
Persistent link: https://www.econbiz.de/10012472211
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The Cost of Diversity : The Diversification Discount and Inefficient Investment
Rajan, Raghuram - 1998
In a simple model of capital budgeting in a diversified firm where headquarters has limited power, we show that funds are allocated towards the most inefficient divisions. The distortion is greater the more diverse are the investment opportunities of the firm's divisions. We test these...
Persistent link: https://www.econbiz.de/10012472450
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An Analysis of Divisional Investment Policies
Shin, Hyun-Han - 1996
This paper investigates the divisional investment policies of diversified firms. We find that investment of the smallest division of diversified firms is significantly related to the cash flow of the other segments. We then show that the smallest division's investment is more sensitive to the...
Persistent link: https://www.econbiz.de/10012473206
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Incentives, Information, and Organizational Design
Stiglitz, Joseph E. - 1989
This paper explores the interaction between incentives, information, and organizational design. It argues that the virtues of the market economy do not lie so much in the vision of competition and decentralization embodied in the Arrow-Debreu model, or the Lange-Lerner-Taylor analysis of market...
Persistent link: https://www.econbiz.de/10012476069
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Organizational Complexity and Balance Sheet Management in Global Banks
Cetorelli, Nicola - 2016
Banks have progressively evolved from being standalone institutions to being subsidiaries of increasingly complex financial conglomerates. We conjecture and provide evidence that the organizational complexity of the family of a bank is a fundamental driver of the business model of the bank...
Persistent link: https://www.econbiz.de/10012456506
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Worker replacement
Menzio, Guido - 2010
Consider a labor market in which firms want to insure existing employees against income fluctuations and, simultaneously, want to recruit new employees to fill vacant jobs. Firms can commit to a wage policy, i.e. a policy that specifies the wage paid to their employees as a function of tenure,...
Persistent link: https://www.econbiz.de/10012462670
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Personnel Economics : Hiring and Incentives
Oyer, Paul - 2010
conform to theory. We survey some literature in this area and suggest areas for further research …
Persistent link: https://www.econbiz.de/10012462675