show that sectors characterized by a higher degree of competition (more substitutable products and a lower concentration of … evidence. In an oligopolistic market, firms can benefit from an increase in their product-specific protection measure, if they … are more likely to reduce profits. In competitive markets firms are therefore more likely to lobby together thereby …

We study why acquisitions of entrant firms by an incumbent can deter innovation and entry in the digital platform …

We model spatial clusters of similar firms. Our model highlights how agglomerative forces lead to localized, individual … connections among firms, while interaction costs generate a defined distance over which attraction forces operate. Overlapping …

We provide a general framework for the study of cascade effects created by interconnections between sectors, firms or … suppliers propagates through the rest of the economy as their downstream sectors/firms also suffer and transmit the negative … shock to their downstream sectors/firms. We also link the probabilities of tail events (large negative deviations of …

We organized business associations for the owner-managers of randomly selected young Chinese firms to study the effect … of business networks on firm performance. We randomized 2,800 firms into small groups whose managers held monthly … meetings improved supplier-client matching. (6) Firms whose managers discussed management, partners, or finance improved more …

We present a model in which managers are risk-averse and firms compete for scarce managerial talent ("alpha"). When … managers are not mobile across firms, firms provide efficient compensation, which allows for learning about managerial talent … and for insurance of low-quality managers. When instead managers can move across firms, firms cannot offer co …

In this paper we examine the causal impact of competition on management quality. We analyze the hospital sector where … geographic proximity is a key determinant of competition, and English public hospitals where political competition can be used to … survival rates from emergency heart attack admissions (AMI). More importantly, we find that higher competition (as indicated by …

The folk wisdom is that competition reduces agency costs. We provide indirect empirical support for this view. We argue … that the temptation to retain cash and engage in less productive activities is more severe for firms in less competitive … leverage as well as a lowering of future returns for firms in less competitive environments. Current leverage will therefore be …