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Optimal Monetary Policy with Informational Frictions
Angeletos, George-Marios - 2011
This paper studies optimal policy in a business-cycle setting in which firms have a blurry understanding of the state of the economy due to informational or cognitive constraints. The latter are not only the source of nominal rigidity but also an impediment in the coordination of production. The...
Persistent link: https://www.econbiz.de/10013118850
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Mutual Fund Performance and the Incentive to Generate Alpha
Del Guercio, Diane - 2011
find that flows chase risk-adjusted returns, and that funds respond by investing more in active management. Importantly …
Persistent link: https://www.econbiz.de/10013119774
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International Trade : Linking Micro and Macro
Eaton, Jonathan - 2014
A recent literature has introduced heterogeneous firms into models of international trade. This literature has adopted the convention of treating individual firms as points on a continuum. While the continuum offers many advantages this convenience comes at some cost: (1) Shocks to individual...
Persistent link: https://www.econbiz.de/10013066573
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Does Trade Globalization Induce or Inhibit Corporate Transparency? Unbundling the Growth Potential and Product Market Competition Channels
Tong, Hui - 2014
How does increasing globalization affect corporate transparency? Freer trade represents different facets and in theory has ambiguous effects on corporate transparency. On the one hand, by exposing firms to more product market competition, it could discourage discretionary disclosure. On the...
Persistent link: https://www.econbiz.de/10013067063
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Does Management Matter? Evidence from India
Bloom, Nicholas - 2014
A long-standing question in social science is to what extent differences in management cause differences in firm … performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting … on modern management practices to a randomly chosen set of treatment plants and compared their performance to the control …
Persistent link: https://www.econbiz.de/10013068799
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Business Strategy and the Management of Firms
Yang, Mu-Jeung - 2015
secure persistently superior performance via investments in better management and organization. We empirically analyze the … management is driven by two key organizational trade-offs: employee initiative vs. coordination as well as exploration of novel …
Persistent link: https://www.econbiz.de/10013030140
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Trade and Investment Under Policy Uncertainty : Theory and Firm Evidence
Handley, Kyle - 2015
We provide theoretical and empirical evidence that policy uncertainty can significantly affect firm level investment and entry decisions in the context of international trade. When market entry costs are sunk, policy uncertainty can create a real option value of waiting to enter foreign markets...
Persistent link: https://www.econbiz.de/10013037283
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Firm Heterogeneity and Firm Behavior with Conditional Policies
Demidova, Svetlana A. - 2007
This paper shows that the result of Ju and Krishna (2002, 2005), i.e., the non-monotonicity in the comparative statics across regimes, disappears, if exporters differ in their productivities, which provides very different predictions about the results of policy changes
Persistent link: https://www.econbiz.de/10012777451
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Capital Allocation and Delegation of Decision-Making Authority within Firms
Graham, John R. - 2011
‟s cash flows, and senior management's "gut feel." Corporate politics and corporate socialism are more important allocation …
Persistent link: https://www.econbiz.de/10013120989
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How Do Firm Financial Conditions Affect Product Quality and Pricing?
Phillips, Gordon M. - 2011
We analyze the interaction of firm product quality and pricing decisions with financial distress and bankruptcy in the airline industry. We consider an airline's choices of quality and price as dynamic decisions that trade off current cash flows for future revenue. We examine how airline...
Persistent link: https://www.econbiz.de/10013122187