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as a result of this globalization. We focus on direct and indirect American influence on the dismissal performance … hiring of American independent board members. Both sources of influence are hypothesized to result in increased dismissal … performance sensitivity. The empirical results show a significant increase in the dismissal sensitivity in poorly performing …
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This paper analyzes the effect of firing costs on aggregate productivity growth. For this purpose, a model of endogenous growth through selection and imitation is developed. It is consistent with recent evidence on firm dynamics and on the importance of reallocation for productivity growth. In...
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