We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...

This thesis is concerned about firm’s merger and competition behavior in modern economies in which networks are ever-more important and how to optimize merger policy when network externalities present. As a demand-side economics of scale, network externalities bring benefit to consumers...

This paper sets out to determine the strategic positioning of Spanish Savings Banks, using datadrawn from published financial information. Its starting point is the idea of the strategic group, regularlyemployed in Business Management to explain the relationships between firms within the same...

This paper provides a contemporary example of the disruptive impact of new technology upon industry structure, through investigation into the ongoing viability of retail travel agents in an industry where technology is a key driver of change. The Internet has provided opportunities for major...

This thesis is concerned with HRM in Irish-owned multinational companies (MNCs). For the purpose of this research, HRM is understood in its broadest sense as encompassing the policies, processes and procedures involved in the management of people within organisations (Sisson, 1989). Adopting a...

Purpose ? The purpose of this paper examines some of the controversies facing business schools in their future evolution and pays particular attention to their competitive positioning as centres of management research. Design/methodology/approach ? The paper combines and builds on current...

Focusing on homogeneous beliefs, we can distinguish two commonly shared ideas that, i) the competition between informed traders destroys their trading profits, ii) trading with a noisy signal brings about a loss in the expected profits. So far, it has been proved in the latter framework, that...

Where do the capabilities of new firms in developing countries come from? One answer is from other firms: employees spin off to launch their own businesses. In this project, Marc Muendler and James Rauch of the University of California, San Diego computed, for the first time, the share of...

This paper examines whether the export decision of firms is affected by their ownership structure, specifically it looks at whether family control is an obstacle to entering foreign markets. The underlying assumption is that family firms are risk averse. Risk aversion may be an obstacle to...

We provide a novel set of stylized facts on firms engaging in international trade in services, using unique firm-level data on services exports and imports in the United Kingdom in 2000- 2005. Less than 10% of firms trade in services but they can be found in all sectors of the UK economy. While...