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tougher competition does indeed raise productivity and one of the main mechanisms is through improving management practices …. To establish this, I report on new research seeking to quantify management. I relate this to theoretical perspectives on … the economics of competition and management, arguing that management should be seen at least in part as a transferable …
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We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...
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