The business performance of firms in the creative high-tech sector shows much variation. This paper examines whether the geographical location of such business firms influences the performance of these firms. The overarching analysis framework of this paper emerges from the recently developed...

This discussion paper resulted in a publication in the 'Journal of Business Venturing', 2014, 29(5), pages 612-632.<P> Human capital obtained through education has been shown to be one of the strongest drivers of entrepreneurship performance. The entrepreneur's human capital is, though, only one of...</p>

This discussion paper has resulted in a publication in the <A href="http://aa4pq3kw5l.search.serialssolutions.com/directLink?&atitle=Economics%3A%20An%20Emerging%20Small%20World&author=Sanjeev%20Goyal%3B%20Marco%20J%20van%20der%20Leij%3B%20José%20Luis%20Moraga%2DGonzález&issn=00223808&title=The%20Journal%20of%20Political%20Economy&volume=114&issue=2&date=20060401&spage=403&id=doi:&sid=ProQ_ss&genre=article&lang=en">'Journal of Political Economy'</A>.<P>This paper examines the small world hypothesis. The first part of the paper presents empirical evidence on the evolution of a particular world: the world of journal publishing economists during the period...</p></a>

This paper studies how morale in teams can break down. It interprets high morale as team members working together productively, either because of a sense of fairness or because of implicit incentives from repeated interactions. Team members learn that lay-offs will occur at a fixed future date,...

We model a firm in an institutional market setting, consisting of a production technology and its governance. The governance consists of a hierarchical firm structure, a cost efficiency parameter,and an internal pay system. The depth of the firm is determined by profit maximization under the...

In this paper we want to analyze the internal divisional structure within an organi-zation in the framework of incomplete contract theory. We use the framework of Aghionand Tirole (1997) and define the managerial control structure as "sequence of search".A key feature of this paper which...

We propose a simple network–based methodology for ranking systemically important financial institutions. We view the risks of firms –including both the financial sector and the real economy– as a network with nodes representing the volatility shocks. The metric for the connections of the...

We model and measure simultaneous large losses of the market value of insurers to understand the impact of shocks on the insurance sector. The downside risk of insurers is explicitly modelled by common and idiosyncratic risk factors. Since reinsurance is important for the capacity of insurers,...

We study the effects of the reform of the system of severance payments (TFR) of Italian employees on the cost and the access to credit for small and medium-size enterprises (SMEs). The most direct consequence of the reform is to reduce in the long run the amount of liquid assets available to...

After pressure from shareholder activists, proxy advisory firms, and the New York Stock Exchange, the Securities and Exchange Commission has eliminated uninstructed broker voting in director elections. We observe that average director approval rates remain high after the change in regulation,...