Narrow search
Showing 1 - 10 of 46
Cover Image
Innovation and institutional ownership
Aghion, Philippe; Van Reenen, John; Zingales, Luigi - 2010
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...
Persistent link: https://www.econbiz.de/10010272476
Cover Image
Credit Constraints as a Barrier to the Entryand Post-Entry Growth of Firms
Aghion, Philippe; Fally, Thibault; Scarpetta, Stefano - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
Advanced market economies are characterized by a continuous process of creativedestruction. Market forces and technological developments play a major role in shaping thisprocess, but institutional and policy settings also influence firms´ decision to enter, to expandif successful and to exit if...
Persistent link: https://www.econbiz.de/10005861084
Cover Image
Innovation and institutional ownership
Aghion, Philippe; Van Reenen, John; Zingales, Luigi - 2010
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...
Persistent link: https://www.econbiz.de/10008735730
Cover Image
Innovation and Institutional Ownership
Aghion, Philippe - 2014
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...
Persistent link: https://www.econbiz.de/10013069342
Cover Image
The Inverted-U Relationship Between Credit Access and Productivity Growth
Aghion, Philippe - 2018
In this paper, we identify two counteracting effects of credit access on productivity growth: on the one hand, better … first develop a simple model of firm dynamics and innovation-based growth with credit constraints, where the above two … counteracting effects generate an inverted-U relationship between credit access and productivity growth. Then, we test our theory on …
Persistent link: https://www.econbiz.de/10012909371
Cover Image
Innovation and Institutional Ownership
Aghion, Philippe - 2014
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...
Persistent link: https://www.econbiz.de/10012750962
Cover Image
Credit Constraints as a Barrier to the Entry and Post-Entry Growth of Firms
Scarpetta, Stefano; Aghion, Philippe; Fally, Thibault - Institute for the Study of Labor (IZA) - 2007
successful. Both private credit and stock market capitalization are important for promoting entry and post entry growth of firms … entry of new (especially small) firms and the post-entry growth of successful young businesses. …
Persistent link: https://www.econbiz.de/10005233782
Cover Image
Competition, Innovation and Growth in Transition: Exploring the Interactions between Policies
Aghion, Philippe; Carlin, Wendy; Schaffer, Mark - William Davidson Institute, University of Michigan - 2002
instruments or does one policy reinforce the effect of another? Although early endogenous growth models predicted a negative …
Persistent link: https://www.econbiz.de/10005207902
Cover Image
In brief: Two cheers for Anglo-Saxon financial markets?
Aghion, Philippe; Reenen, John Van; Zingales, Luigi - Centre for Economic Performance, LSE - 2012
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...
Persistent link: https://www.econbiz.de/10010549053
Cover Image
Innovation and Institutional Ownership
Aghion, Philippe; Reenen, John Van; Zingales, Luigi - In: American Economic Review 103 (2013) 1, pp. 277-304
We find that greater institutional ownership is associated with more innovation. To explore the mechanism, we contrast the "lazy manager" hypothesis with a model where institutional owners increase innovation incentives through reducing career risks. The evidence favors career concerns. First,...
Persistent link: https://www.econbiz.de/10010604497