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Hierarchies, Specialization, and the Utilization of Knowledge : Theory and Evidence from the Legal Services Industry

Garicano, Luis; Hubbard, Thomas N. - 2022

What role do hierarchies play with respect to the organization of production and what determines their structure? We develop an equilibrium model of hierarchical organization, then provide empirical evidence using confidential data on thousands of law offices from the 1992 Census of Services....

Persistent link: https://www.econbiz.de/10014072174

Bad Politicians

Caselli, Francesco; Morelli, Massimo - 2022

We present a simple theory of the quality (competence and honesty) of elected officials. Our theory offers four main … than those of high-quality citizens (competence), and/or because they reap higher returns from holding office (honesty …

Persistent link: https://www.econbiz.de/10013323454

A New Approach to the Valuation of Intangible Capital

Cummins, Jason G. - 2012

In this paper, I argue that intangible capital is not a distinct input to production like physical capital or labor but rather it is the glue that creates value from other inputs. This perspective naturally leads to an empirical model in which intangible capital is defined in terms of adjustment...

Persistent link: https://www.econbiz.de/10013102059

Tax Neutrality and Intangible Capital

Fullerton, Don - 2010

Many studies measure capital stocks and effective tax rates for different industries, but they consider only tangible assets such as equipment, structures, inventories, and land. Some of these studies also have estimated that the welfare cost of tax differences among these assets under prior law...

Persistent link: https://www.econbiz.de/10012760243

Measuring Intangible Capital with Market Prices

Ewens, Michael - 2019

Existing standards prohibit disclosures of internally created intangible capital to firm balance sheets, resulting in a downward bias of reported assets. To characterize off-balance sheet intangible assets, we use transaction prices to estimate this missing intangible capital. On average, our...

Persistent link: https://www.econbiz.de/10012868198

Intellectual Capital and the Firm : The Technology of Geographically Localized Knowledge Spillovers

Zucker, Lynne G.; Darby, Michael R.; Armstrong, Jeff S. - 2021

We examine the effects of university-based star scientists on three measures of performance for California biotechnology enterprises: the number of products in development, the number of products on the market, and changes in employment. The `star' concept which Zucker, Darby, and Brewer (1994)...

Persistent link: https://www.econbiz.de/10013220403

Intangible Value

Eisfeldt, Andrea L.; Kim, Edward; Papanikolaou, Dimitris - 2022

Intangible assets are absent from traditional measures of firm value despite their growing importance in firms' capital stocks. We propose a simple improvement to the classic Fama and French (1992, 1993) value factor that incorporates intangibles and addresses differences in accounting practices...

Persistent link: https://www.econbiz.de/10013289315

The Effects of Human Resource Management Practices on Productivity

Ichniowski, Casey; Shaw, Kathryn L.; Prennushi, Giovanna - 2021

Increasingly, firms are considering the adoption of new work practices, such as problem-solving teams, enhanced communication with workers, employment security, flexibility in job assignments, training workers for multiple jobs, and greater reliance on incentive pay. This paper provides...

Persistent link: https://www.econbiz.de/10013249693

The Efficacy of Parochial Politics : Caste, Commitment, and Competence in Indian Local Governments

Munshi, Kaivan D. - 2010

with superior observed characteristics and with greater public good provision. This improvement in leadership competence …

Persistent link: https://www.econbiz.de/10012758392

A Corporate Beauty Contest

Graham, John R. - 2010

that executive compensation is linked to these perceived "competence" ratings. Our analysis explores these findings in more …-facedness" of the CEO. That is, more mature looking CEOs are assigned higher "competence" scores. This finding is potentially …. Essentially, the "look" of competence says very little about effective competence …

Persistent link: https://www.econbiz.de/10013144751

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