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Capitalism recoupled
Kelly, Colm; Snower, Dennis J. - 2021
This paper examines major forces that have decoupled economic and business prosperity from social prosperity and explores how recoupling can be promoted. Economists have specified well-known conditions under which free market enterprise with shareholder value maximization is efficient. These...
Persistent link: https://www.econbiz.de/10012583534
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Prosocial managers, employee motivation, and the creation of shareholder value
Kajackaite, Agne; Sliwka, Dirk - 2018
Milton Friedman has famously claimed that the responsibility of a manager who is not the owner of a firm is "to conduct the business in accordance with their [the shareholders'] desires, which generally will be to make as much money as possible." In this paper we argue that when contracts are...
Persistent link: https://www.econbiz.de/10011906086
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Individual and corporate social responsibility
Bénabou, Roland; Tirole, Jean - 2009
Society's demands for individual and corporate social responsibility as an alternative response to market and distributive failures are becoming increasingly prominent. We first draw on recent developments in the "psychology and economics" of prosocial behavior to shed light on this trend, which...
Persistent link: https://www.econbiz.de/10003919857
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Investor protection and the value of shares : evidence from statutory rules governing variations of shareholders’ class rights in Russia
Muravyev, Alexander - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10003932236
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How policy changes affect shareholder wealth : the case of the Fukushima Daiichi nuclear disaster
Betzer, André; Doumet, Markus; Rinne, Ulf - 2011
This paper analyzes how policy changes affect shareholder wealth in the context of environmental regulation. We exploit the unique and unexpected German reaction to the Fukushima Daiichi nuclear disaster, which involved the immediate shutdown of almost half of Germany's nuclear reactors while...
Persistent link: https://www.econbiz.de/10009312120
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Immigration and entrepreneurship
Fairlie, Robert W.; Lofstrom, Magnus - 2013
Immigrants are widely perceived as being highly entrepreneurial and important for economic growth and innovation. This …
Persistent link: https://www.econbiz.de/10010197083
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Foreign and native-born STEM graduates and innovation intensity in the United States
Winters, John V. - 2014
native and foreign STEM graduates have statistically significant and economically large effects on innovation. Together these … results suggest that policies that increase the stocks of both foreign and native STEM graduates increase innovation and …
Persistent link: https://www.econbiz.de/10010418916
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Opening up military innovation: causal effects of "bottom-up" reforms to U.S. defense research
Howell, Sabrina T.; Rathje, Jason; Van Reenen, John; … - 2021
the U.S. Air Force Small Business Innovation Research (SBIR) program that transitioned from "Conventional topics," which … innovation even in less specific Conventional topics. The results suggest that government (and perhaps private sector) innovation …
Persistent link: https://www.econbiz.de/10012517156
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Beyond EU-US trade dynamics : TTIP effects related to foreign direct investment and innovation
Jungmittag, Andre; Welfens, Paul J. J. - 2017
trade induced real income gains while the FDI related and innovation induced benefits have been largely neglected, although … knowledge production function has to be considered in order to analyze FDI and innovation dynamics - and this can then be linked …. Time series data analysis for Germany indicates additionally that FDI induced higher innovation dynamics will raise output …
Persistent link: https://www.econbiz.de/10011716195
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Immigrant entrepreneurs and innovation in the U.S. high-tech sector
Brown, J. David; Earle, John S.; Kim, Mee Jung; Lee, … - 2019
We estimate differences in innovation behavior between foreign versus U.S.-born entrepreneurs in high-tech industries … characteristics and innovation activities. We find uniformly higher rates of innovation in immigrant-owned firms for 15 of 16 … different innovation measures; the only exception is for copyright/trademark. The immigrant advantage holds for older firms as …
Persistent link: https://www.econbiz.de/10011986036