Prior research on middle managers has emphasized their vital role in the strategic and entrepreneurial process of established organizations. Yet we still know relatively little about how their actual behavior translates into superior performance. In this paper I examine how entrepreneurial...

This EU supported Specific Targeted Research Project (STREP) had been conducted by a European Consortium composed of eight research institutions. Ifo's part within this larger programme was (a) to analyse the fiscal effects of privatization and (b) to assess the valuation of privatization...

This EU supported Specific Targeted Research Project (STREP) had been conducted by a European Consortium composed of eight research institutions. Ifo's part within this larger programme was (a) to analyse the fiscal effects of privatization and (b) to assess the valuation of privatization...

Performance differences between firms are generally attributed to organizational factors – such as routines, knowledge, and strategy – rather than to differences among the individuals who make up firms. As a result, little is known about the part that individual firm members play in...

This paper proposes to exploit a reform in legal rules of corporate governance to identify contractual incentives from the correlation of executive pay and firm performance. In particular, we refer to a major shift in the legal and institutional environment, the reform of the German joint-stock...