This paper studies optimal contracting under synergies. We define influence as the extent to which effort by one agent … reduces a colleague's marginal cost of effort, and synergy to be the sum of the (unidimensional) influence parameters across a … depends only on total synergy and not individual influence parameters. An increase in synergy raises total effort and total …

positive or negative monitoring synergies across firms. Whether busyness benefits or harms shareholders depends on whether … directors' effort choices are strategic substitutes or complements and on the sign of the cross-firm synergies. Our empirical … facing a crisis. Consistent with the model, we find that busy directors increase monitoring at spillover firms when synergies …

reaching the right tails of the firm size and innovation distributions. Furthermore, outcomes are better for startups matched …

The Trans-Pacific Partnership (TPP) is a new negotiation on cross border liberalization of goods and service flows …