This paper studies, in a world with differing priors, the role of organizational beliefs and managerial vision in the behavior and performance of corporations. The paper defines vision operationally as a very strong belief by the manager about the right course of action for the firm. The...

Can managers have an impact on their firm that goes beyond their direct actions and decisions? This article shows that a manager with strong beliefs about the right course of action will attract, through sorting in the labor market, employees with similar beliefs. This alignment of beliefs gives...

Selten hat ein multinationales Unternehmen noch ein nationales Zentralmanagement. Immer mehr werden Vertreter aus wichtigen Ländern in die obersten Führungsetagen berufen. Unabhängig von den vielschichtigen Überlegungen zur Zentralisierung oder Dezentralisierung der Organisationsstruktur...