effect on innovation. We develop a simple "trapped factor" model of innovation that is consistent with these empirical …

We develop an incomplete-contracts model to jointly study firm boundaries and the al-location of decision rights within … them. Integration has an option value: it gives firm owners authority to delegate or centralize decision rights, depending …

unique aspect of this survey is it collected management data from the CEO, a random sample of senior managers and workers. We … poorly managed firms. This distribution of management scores is similar for CEOs, senior managers and workers management, and …, we find that the CEO's management scores are the most predictive of firm performance, followed by the senior managers and …

of Harvard Business School’s required strategy course, we trace differences in strategic decision making back to …

mediated through employee decision-making and effort. To the extent that these practices are complementary with workers' skills … attributable to the human capital of the highest-paid workers, a group we interpret as representing the managers of the firm. And a …