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This paper develops a framework to analyze the relationship between the diffusion of new technologies and the decentralization decisions of firms. Centralized control relies on the information of the principal, which we equate with publicly available information. Decentralized control, on the...
Persistent link: https://www.econbiz.de/10005151064
We build a model of firm-level innovation, productivity growth and reallocation featuring endogenous entry and exit. A …
Persistent link: https://www.econbiz.de/10012900520