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related to the change in their management performance. We use new and unique data from a recent large scale firm survey of … management practices in Germany. We calculate management scores for firms as in Bloom et al. (2013), which indicate how … structured management is in a given firm. We find that switching into exporting, and to a lesser degree opening up affiliates …
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"Foreign-owned firms from advanced countries carry the culture of transparency in business transactions that is orthogonal to the culture of hiding and insider dealing in many developing economies and economies in transition. In this paper, we document this using administrative data on reported...
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"We propose and test a catering theory of nominal stock prices. The theory predicts that when investors place higher valuations on low-price firms, managers will maintain share prices at lower levels, and vice-versa. Using measures of time-varying catering incentives based on valuation ratios,...
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public fund management practices, focusing on ways to formulate and build a strong governance structure for managing the … pension funds, to highlight similarities and differences between these. We also explore how their management structure relates …
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