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Delegation and Interim Performance Evaluation
Schütte, Miriam; Wichardt, Philipp Christoph - 2013
This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate authority to a potentially biased but better informed agent. Assuming the agents’ outside option to be determined by market beliefs about their type, interim evaluations (a) provide...
Persistent link: https://www.econbiz.de/10010293918
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The Theory of the Firm Goes Global
Marin, Dalia - 2013
What insights can be gained from bringing the theory of the firm to the global economy? I discuss several new features of the world economy that can be explained by incorporating the theory of the firm into the theory of international trade. Among the new features I discuss are the move to...
Persistent link: https://www.econbiz.de/10010328711
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Employee Spinouts, Social Networks, and Family Firms
Rauch, James E. - 2013
Recently collected data show that, within any manufacturing industry, vertically integrated firms tend to have larger, higher productivity plants, account for the bulk of sales, and also sell externally most of the inputs they produce. In a weak contracting environment characteristic of...
Persistent link: https://www.econbiz.de/10010328762
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Financial Constraints and Moral Hazard: The Case of Franchising
Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine - 2013
Financial constraints are an important impediment to the growth of small businesses. We study theoretically and empirically how the financial constraints of agents affect their decisions to exert effort, and, hence the organizational decisions and growth of principals, in the context of...
Persistent link: https://www.econbiz.de/10010328771
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OPEC's Market Power: An Empirical Dominant Firm Model for the Oil Market
Golombek, Rolf; Irarrazabal, Alfonso A.; Ma, Lin - 2013
In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil prices for the 1986-2009 period. All the estimated structural parameters have the expected sign and are significant at standard test levels. We find that OPEC exercised its...
Persistent link: https://www.econbiz.de/10010328808
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Team Production in Competitive Labor Markets with Adverse Selection
von Siemens, Ferdinand; Kosfeld, Michael - 2014
Team production is a frequent feature of modern organizations. Combined with team incentives, team production can … create externalities among workers, since their utility upon accepting a contract depends on their team's performance and … therefore on their colleagues' productivity. We study the effects of such externalities in a competitive labor market if workers …
Persistent link: https://www.econbiz.de/10010333390
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Stakeholder Governance, Competition and Firm Value
Allen, Franklin; Carletti, Elena; Marquez, Robert - 2014
In many countries, the legal system or social norms ensure that firms are stakeholder oriented. We analyze the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to shareholder-oriented firms in a model of imperfect competition....
Persistent link: https://www.econbiz.de/10010333402
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Delegation and Dynamic Incentives
Shin, Dongsoo; Strausz, Roland - 2014
production complementarity. We also consider different modes of commitment to yield insights into optimal organizational …
Persistent link: https://www.econbiz.de/10010352361
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Vertical Foreign Direct Investment: Make, Sell and (Not) Buy
Milliou, Chrysovalantou; Sandonís, Joel - 2016
intangible assets between a multinational’s vertically related production plants, its parent firm can engage in vertical FDI in …
Persistent link: https://www.econbiz.de/10011584889
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Do Multinationals Transfer Culture? Evidence on Female Employment in China
Tang, Heiwai; Zhang, Yifan - 2017
We study the global diffusion of culture through multinationals, focusing on gender norms. Using data on manufacturing firms in China over 2004-2007, we find that foreign affiliates from countries with a more gender-equal culture tend to employ proportionally more women and appoint female...
Persistent link: https://www.econbiz.de/10011615850