This paper studies the implications of perceived default risk for aggregate output and productivity. Using a model of … credit contracts with moral hazard, we show that a firm's probability of default is a sufficient statistic for capital … allocation. The theoretical framework suggests an aggregate measure of the impact of credit market frictions based on firm …

Are some management practices akin to a technology that can explain company and national productivity, or do they … management on firm performance; (ii) a positive relationship between product market competition and average management quality … (part of which stems from the larger covariance between management with firm size as competition strengthens); and (iii) a …

Recent research suggests that much of the cross-firm variation in measured productivity is due to differences in use of … and firm-level productivity in Germany. In our preferred TFP estimates only a small fraction of this correlation is … longitudinal earnings records for their employees to study the relationship between productivity, management, worker ability, and …

&D knowledge located in the US. The positive influence on total factor productivity is larger if the research of the inventors …

We present a heterogeneous-firm model in which management ability increases both pro- duction efficiency and product …

Are some management practices akin to a technology that can explain company and national productivity, or do they … management on firm performance; (ii) a positive relationship between product market competition and average management quality … (part of which stems from the larger covariance between management with firm size as competition strengthens); and (iii) a …

be due to endogenous selection. -- Career Concerns ; Innovation ; Institutional Ownership ; Productivity and R&D …

It is standard in the literature on training to use wages as a sufficient statistic for productivity. This paper … examines the effects of work-related training on direct measures of productivity. Using a new panel of British industries 1983 … productivity. A one percentage point increase in training is associated with an increase in value added per hour of about 0.6% and …