"Malthusian stagnation" result. Furthermore, optimal allocations exhibit inequality, differential fertility, random consumption … risk or frictions. …

Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in … efficiency, and (iii) high competition is less conductive to efficiency than moderate or low competition. In terms of ownership …, we find that (iv) efficiency increases when a majority owner must deal with minority shareholders and that (v) domestic …