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We document that the recent decline in aggregate volatility has been accompanied by a large increase in firm level risk. The negative relationship between firm and aggregate risk seems to be present across industries in the US, and across OECD countries. Firm volatility increases after...
Persistent link: https://www.econbiz.de/10012467295
"A long-standing question in social science is to what extent differences in management cause differences in firm … performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting … on modern management practices to a randomly chosen set of treatment plants and compared their performance to the control …
Persistent link: https://www.econbiz.de/10011394862
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
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
A long-standing question in social science is to what extent differences in management cause differences in firm … performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting … on modern management practices to a randomly chosen set of treatment plants and compared their performance to the control …
Persistent link: https://www.econbiz.de/10012461999
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
The existing literature on firms, based on incomplete contracts and property rights, emphasizes that the ownership of assets - and thereby firm boundaries - is determined in such a way as to encourage relationship-specific investments by the appropriate parties. It is generally accepted that...
Persistent link: https://www.econbiz.de/10012464034
Managerial know-how shapes the productivity of firms by defining the set of available technologies, production choices, and market opportunities. This know-how can be reallocated across countries as managers acquire control of factors of production abroad. In this paper, we construct a...
Persistent link: https://www.econbiz.de/10012465581
Applied economists often wish to measure the effects of managerial decisions or policy changes on plant-level productivity patterns. But plant-level data on physical quantities of output, capital, and intermediate inputs are usually unavailable. Therefore, when constructing productivity...
Persistent link: https://www.econbiz.de/10012469081