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Does Corporate Governance Matter in Competitive Industries?
Giroud, Xavier - 2010
By reducing the threat of a hostile takeover, business combination (BC) laws weaken corporate governance and increase the opportunity for managerial slack. Consistent with the notion that competition mitigates managerial slack, we find that while firms in non-competitive industries experience a...
Persistent link: https://www.econbiz.de/10012757546
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The Governance and Performance of Research Universities : Evidence from Europe and the U.S
Aghion, Philippe - 2010
We investigate how university governance affects research output, measured by patenting and international university research rankings. For both European and U.S. universities, we generate several measures of autonomy, governance, and competition for research funding. We show that university...
Persistent link: https://www.econbiz.de/10012757593
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Foreign Know-How, Firm Control, and the Income of Developing Countries
Burstein, Ariel T. - 2010
Managerial know-how shapes the productivity of firms by defining the set of available technologies, production choices, and market opportunities. This know-how can be reallocated across countries as managers acquire control of factors of production abroad. In this paper, we construct a...
Persistent link: https://www.econbiz.de/10012760102
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Optimal Decentralized Investment Management
Brandt, Michael W. - 2010
optimal benchmark substantially mitigates the utility costs of decentralized investment management. These costs can be further …
Persistent link: https://www.econbiz.de/10012761668
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Constraints on Large-Block Shareholders
Holderness, Clifford G. - 2010
that the law constrains managerial majority shareholders, both in their day-to-day management and when they redeem the …
Persistent link: https://www.econbiz.de/10012763829
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A Theory of Firm Scope
Hart, Oliver - 2009
The existing literature on firms, based on incomplete contracts and property rights, emphasizes that the ownership of assets - and thereby firm boundaries - is determined in such a way as to encourage relationship-specific investments by the appropriate parties. It is generally accepted that...
Persistent link: https://www.econbiz.de/10012765370
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Do Hot Hands Exist Among Hedge Fund Managers? An Empirical Evaluation
Jagannathan, Ravi - 2009
We examine whether hot hands exist among hedge fund managers. In measuring performance persistence, we use hedge fund style benchmarks. This allows us to identify managers with valuable skills, and also to control for option-like features inherent in returns from hedge fund strategies. We take...
Persistent link: https://www.econbiz.de/10012767433
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Modern Management : Good for the Environment or Just Hot Air?
Bloom, Nicholas - 2014
We use an innovative methodology to measure management practices in over 300 manufacturing firms in the UK. We then … match this management data to production and energy usage information for establishments owned by these firms. We find that … relation to other factor inputs. This is quantitatively substantial: going from the 25th to the 75th percentile of management …
Persistent link: https://www.econbiz.de/10012751267
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Do Management Interventions Last? Evidence from India
Bloom, Nicholas - 2018
Beginning in 2008, we ran a randomized controlled trial that changed management practices in a set of Indian weaving … management practices adopted in the original experimental plants had been dropped, there was still a large and significant gap in … control plants, suggesting lasting impacts of effective management interventions. Second, while few management practices had …
Persistent link: https://www.econbiz.de/10012929007
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Organizational Decision Making Under Uncertainty Shocks
Ballesteros, Luis - 2018
markets, such as natural disasters, terrorist attacks, and financial crises—as a problem of risk management. This is …
Persistent link: https://www.econbiz.de/10012912518