Showing 1 - 10 of 582
"spinouts": managers of input divisions can start their own firms, making customized inputs formerly provided internally subject … lead to inefficiently low entry. Vertically integrated firms can fight back by hiring managers for their input divisions …
Persistent link: https://www.econbiz.de/10012458936
In this paper we study how the existence of a functioning market for technology differentially conditions the entry strategy and survival of different types of entrants, and the role of scale, marketing ability and technical assets. Markets for technology facilitate entry of firms that lack...
Persistent link: https://www.econbiz.de/10012465005
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
Both managerial ownership and performance are endogenously determined by exogenous (and only partly observed) changes in the firm's contracting environment. We extend the cross-sectional results of Demsetz and Lehn (1985) and use panel data to show that managerial ownership is explained by key...
Persistent link: https://www.econbiz.de/10012471259
shareholders and managers in which managers have private benefits or private costs of investment. Managers overinvest when they …, in isolation, is insufficient to identify whether managers have private benefits or private costs of investment. In order … to identify whether managers have private benefits or costs, we estimate the joint relationships between incentives and …
Persistent link: https://www.econbiz.de/10012471449
In this article, we focus on how recent research advances can be used to address the following six questions: (1) How much does executive compensation cost the firm? (2) How much is executive compensation worth to the recipient? (3) How well does executive compensation work? (4) What are the...
Persistent link: https://www.econbiz.de/10012471670
This paper uses novel, firm-level measures derived from communications metadata before and after a CEO transition in 102 firms to study if CEO turnover impacts employees' communication flows. We find that CEO turnover leads to an initial decrease in intra-firm communication, followed by a...
Persistent link: https://www.econbiz.de/10012599332
This paper uses stochastic simulation and my U.S. econometric model to examine the optimal choice of monetary policy instruments. Are the variances, covariances, and parameters in the model such as to favor one instrument over the other, in particular the interest rate over the money supply? The...
Persistent link: https://www.econbiz.de/10012476924
Enterprises (SOEs) in India. The program gave managers (the board of directors) of profitable SOEs more autonomy over strategic … that a manager subsequently joins a board of a private firm is greater for managers of those SOEs which were granted … may occur partly through managers' career concerns …
Persistent link: https://www.econbiz.de/10012480249
evaluate their managers on worker and firm outcomes. In the treatment teams, workers evaluate their supervisors monthly. We … driven by changes in the behavior of managers and an overall better relationship between managers and workers …
Persistent link: https://www.econbiz.de/10012481228