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Information Flows, Organizational Structure, and Corporate Governance

Malenko, Nadya - National Bureau of Economic Research - 2023

This survey provides an overview of theoretical and empirical research on information flows in corporations. It highlights key frictions preventing effective information flows and discusses how organizational structure and corporate governance can alleviate these frictions, focusing on three...

Persistent link: https://www.econbiz.de/10014287310

Corporate Governance Implications of the Growth in Indexing

Brav, Alon; Malenko, Nadya; Malenko, Andrey - National Bureau of Economic Research - 2022

Passively managed funds have grown to become some of the largest shareholders in publicly traded companies, but there is considerable debate about the effects of this growth on corporate governance. The goal of this paper is to review the literature on the governance implications of passive fund...

Persistent link: https://www.econbiz.de/10013477210

Bargaining and International Reference Pricing in the Pharmaceutical Industry

Dubois, Pierre; Gandhi, Ashvin; Vasserman, Shoshana - National Bureau of Economic Research - 2022

The United States spends twice as much per person on pharmaceuticals as European countries, in large part because prices are much higher in the US. This fact has led policymakers to consider legislation for price controls. This paper assesses the effects of a US international reference pricing...

Persistent link: https://www.econbiz.de/10013210081

Local and National Concentration Trends in Jobs and Sales : The Role of Structural Transformation

Autor, David H.; Patterson, Christina; Van Reenen, John - National Bureau of Economic Research - 2023

National industrial concentration in the U.S. has risen sharply since the early 1980s, but there remains dispute over whether local geographic concentration has followed a similar trend. Using near population data from the Economic Censuses, we confirm and extend existing evidence on national...

Persistent link: https://www.econbiz.de/10014250148

Centralization and Organization Reproduction : Ethnic Innovation in R&D Centers and Satellite Locations

Kerr, William R. - National Bureau of Economic Research - 2023

We study the relationship between firm centralization and organizational reproduction in satellite locations. For decentralized firms, the ethnic compositions of inventors in satellite locations mostly resemble their host cities, with little link to the inventor composition of their parent...

Persistent link: https://www.econbiz.de/10014372481

Financial Crises and the Global Supply Network : Evidence from Multinational Enterprises

Basco, Sergi; Felice, Giulia; Merlevede, Bruno; … - National Bureau of Economic Research - 2023

This paper empirically examines the effects of financial crises on the organization of production of multinational enterprises. We construct a panel of European multinational networks from 2003 through 2015. We use as a financial shock the increase in risk premia between August 2007 and July...

Persistent link: https://www.econbiz.de/10014287317

Product Repositioning by Merging Firms

Atalay, Enghin; Sorensen, Alan T.; Sullivan, Christopher J. - National Bureau of Economic Research - 2023

We examine merging firms' additions and removals of products for a sample of 66 mergers across a wide variety of consumer packaged goods markets. We find that mergers lead to a net reduction in the number of products offered by merging firms. Merging firms tend to both drop and add products at...

Persistent link: https://www.econbiz.de/10014287330

Do Mergers and Acquisitions Improve Efficiency? Evidence from Power Plants

Demirer, Mert; Karaduman, Ömer - National Bureau of Economic Research - 2024

Using rich data on hourly physical productivity and thousands of ownership changes from US power plants, we study the … plants, beginning five months after acquisitions. Efficiency gains rise to 5% under direct ownership changes, with no … significant change when only parent ownership changes. Investigating the mechanisms, three-quarters of the efficiency gain is …

Persistent link: https://www.econbiz.de/10014635690

Q-Monetary Transmission

Jeenas, Priit; Lagos, Ricardo - National Bureau of Economic Research - 2022

We study the effects of monetary-policy-induced changes in Tobin's q on corporate investment and capital structure. We develop a theory of the mechanism, provide empirical evidence, evaluate the ability of the quantitative theory to match the evidence, and quantify the relevance for monetary...

Persistent link: https://www.econbiz.de/10013210051

The Secular Decline in Private Firm Leverage

Dobridge, Christine L.; Gilje, Erik P.; Whitten, Andrew - National Bureau of Economic Research - 2022

Using firm-level administrative tax data on the 43% of business liabilities in the United States tied to privately held firms, we document dramatic reductions in leverage since the Great Recession. Leverage for the average private firm fell fifteen percent between 2004 and 2018. In contrast,...

Persistent link: https://www.econbiz.de/10013210062

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