The legal structure of the modern corporate form has four fundamental elements--separate identity, limited liability for shareholders, centralized management, and transferability of shares. These, together with the dynamics of governance relationship between the owners, the supervisory board,...

What determines firm growth over the life-cycle? Exploiting unique firm panel data on internal organization, balance sheets and innovation, representative of the entire Canadian economy, we study recent theories that examine life-cycle patterns for firm growth. These theories include...

What determines firm growth over the life-cycle? Exploiting unique firm panel data on internal organization, balance sheets and innovation, representative of the entire Canadian economy, we study recent theories that examine life-cycle patterns for firm growth. These theories include...