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Garicano, Luis - 2007

Hierarchies allow individuals to leverage their knowledge through others' time. This mechanism increases productivity and amplifies the impact of skill heterogeneity on earnings inequality. To quantify this effect, we analyze the earnings and organization of U.S. lawyers and use the equilibrium...

Persistent link: https://www.econbiz.de/10012465842

Information Production and Capital Allocation : Decentralized vs. Hierarchical Firms

Stein, Jeremy C. - 2000

costlessly hardened' and passed along within the hierarchy. As a concrete application of the theory, the paper discusses the …, this is exactly what the theory would lead one to expect …

Persistent link: https://www.econbiz.de/10012471056

Organization and Inequality in a Knowledge Economy

Garicano, Luis - 2005

We present a theory of the organization of work in an economy where knowledge is an essential input in production: a … may produce on their own or in organizations. Our theory generates an assignment of workers to positions, a wage structure … referral markets. We use our theory to study the impact of information and communication technology, and contrast its …

Persistent link: https://www.econbiz.de/10012467222

From Sectoral to Functional Urban Specialization

Duranton, Gilles - 2002

Striking evidence is presented of a previously unremarked transformation of urban structure from mainly sectoral to mainly functional specialization. We offer an explanation showing that this transformation is inextricably interrelated with changes in firms' organization. A greater variety of...

Persistent link: https://www.econbiz.de/10012469599

An Empirical Framework for Testing Theories About Complimentarity in Organizational Design

Athey, Susan - 1998

This paper studies alternative empirical strategies for estimating the effects of organization design practices on performance, as well as the factors which determine organizational design, in a cross-section of firms. Our economic model is based on a firm where multiple organizational design...

Persistent link: https://www.econbiz.de/10012472211

The Cost of Diversity : The Diversification Discount and Inefficient Investment

Rajan, Raghuram - 1998

In a simple model of capital budgeting in a diversified firm where headquarters has limited power, we show that funds are allocated towards the most inefficient divisions. The distortion is greater the more diverse are the investment opportunities of the firm's divisions. We test these...

Persistent link: https://www.econbiz.de/10012472450

An Analysis of Divisional Investment Policies

Shin, Hyun-Han - 1996

This paper investigates the divisional investment policies of diversified firms. We find that investment of the smallest division of diversified firms is significantly related to the cash flow of the other segments. We then show that the smallest division's investment is more sensitive to the...

Persistent link: https://www.econbiz.de/10012473206

Incentives, Information, and Organizational Design

Stiglitz, Joseph E. - 1989

This paper explores the interaction between incentives, information, and organizational design. It argues that the virtues of the market economy do not lie so much in the vision of competition and decentralization embodied in the Arrow-Debreu model, or the Lange-Lerner-Taylor analysis of market...

Persistent link: https://www.econbiz.de/10012476069

Organizational Complexity and Balance Sheet Management in Global Banks

Cetorelli, Nicola - 2016

Banks have progressively evolved from being standalone institutions to being subsidiaries of increasingly complex financial conglomerates. We conjecture and provide evidence that the organizational complexity of the family of a bank is a fundamental driver of the business model of the bank...

Persistent link: https://www.econbiz.de/10012456506

Heart of Darkness : Modeling Public-Private Funding Interactions Inside the R&D Black Box

David, Paul A. - 2000

This paper is a first step toward closing the analytical gap in the extensive literature on the results of interactions between public and private R&D expenditures, and their joint effects on the economy. Econometric studies in this area report a plethora of sometimes confusing and frequently...

Persistent link: https://www.econbiz.de/10012471237

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