This study investigates the influence of controlling-minority ownership structures (CMSes) on the employment adjustment of firms. We propose that entrepreneur-operated CMS firms typically develop a stewardship governance structure, which relies heavily on the social and psychological context of...

Public finance has both normative and positive elements, and moving between theory and practice requires attention to help us understand both what policies government should adopt and whether it is likely to do so. We should not be surprised when bad policies are adopted in spite of better...