In an efficient economy, capital should be quickly (re)allocated from declining firms and sectors to more profitable investment opportunities. This process is affected by the concentration of corporate control, which in turn is affected by market institutions. We employ a panel of 12,000 firms...

Policy interest since the early 1980s has focused in different ways on the crea-tion of a large, productive, taxable economy - in which entrepreneurship plays a role for employment, income growth and innovation. The current understanding of various forms of entrepreneurship remains incomplete,...

This paper argues that globalization has led to a shift in developed countries from an industrial to an entrepreneurial model of production. Globalization is interpreted as a level shock in the supply of unskilled labor to the world economy, a decrease in the level of political risk associated...

This paper explores theoretically and empirically potentially important yet often-neglectedlinkage between task coordination within the organization and the structure of organizationand bundling of HRMPs (Human Resource Management Practices). In so doing, we alsoprovide fresh insights on the...

This paper is an empirical study of slope heterogeneity in job satisfaction. It providesevidence from the generalized ordered probit models that different job characteristics tend tohave different distributional impacts on the overall job satisfaction. For instance, standardmodels tend to...

We investigate the effects of works councils on employees’ wages and job satisfaction ingeneral and for subgroups with respect to sex and occupational status. Making use of aGerman representative sample of employees, we find that employees, who move to a firmwith a works council, report...

About one in four workers challenges her dismissal in front of a labor court in France. Using adata set of individual labor disputes brought to French courts over the years 1996 to 2003,we examine the impact of labor court activity on labor market flows. First, we present asimple theoretical...

We report the first results for Korean firms on the incidence, diffusion, scope and effects ofdiverse employee financial participation schemes, such as Profit Sharing Plans (PSPs),Employee Stock Ownership Plans (ESOPs), Stock Option Plans (SOPs) and Team IncentivePlans (TIPs). In do doing, we...

The paper examines the issue of corporate social responsibility (CSR)from the perspective of constitutional economics, focusing on the distinction betweena political community’s constitutional choice of the rules of the ‘‘marketgame,’’ and the market players’ sub-constitutional...

This paper deals with the the thesis that bigger wage differentials might also give rise to less co-operation and more politicking amongst workers resulting in worse outcomes.