We develop a model of a firm whose production process requires it to start and nurture a relationship with its … stakeholders and potential stakeholders can affect firm value. Our analysis indicates that while transparency (i.e., generating … information about a firm's quality) may improve the allocation of resources, a firm may have a higher ex ante value if information …

Economic models routinely assume firms maximize shareholder wealth; however common law legal systems only require that … made firm-specific investments, may exert stronger claims than atomistic public shareholders have to shares of their firms …

Despite the fact that importing and exporting are extremely rare firm activities, economists generally devote little … non-trading firms, demonstrates how these differences present a challenge to standard trade models and shows how recent … quot;heterogeneous-firmquot; models of international trade address these challenges. We then make use of transaction …

The government contracts with a foreign firm to extract a natural resource that requires an upfront investment and … informational requirements. The bidding variable is a cap on the present value of discounted revenues, and the firm with the lowest …

We find that the announcement gain to target shareholders from acquisitions is significantly lower if a private firm … instead of a public firm makes the acquisition. Non-operating firms like private equity funds make the majority of private … bidder acquisitions. On average, target shareholders receive 55% more if a public firm instead of a private equity fund makes …

' Surveys). On the basis of the methodology developed by Winter-Ebmer and Zweimuller (1999), we find that within-firm wage … dispersion has a positive and significant effect on firm productivity. This result is robust to controls for individual and firm … in line with the 'tournament' models than with the 'fairness, morale and cohesiveness' models …