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Some cooperatives produce great wines, but the majority does not : complementary institutional mechanisms to improve the performance of an indispensable organizational form

Frick, Bernd - In: Journal of wine economics 12 (2017) 4, pp. 386-394

Persistent link: https://www.econbiz.de/10011849659

The Dark Side of Diversity : An Empirical Examination of the Impact of Firm Diversity on Resource Allocation Efficiency in Multidivisional Firms

Tag, Mehmet - 2023

resource allocation efficiency to three forms of firm-level diversity: diversity in industry-specific knowledge, diversity in … multidivisional firms shows that resource allocation efficiency tends to decrease as diversity in either industry-specific knowledge … diversity in industry-specific investment opportunities and allocation efficiency weakens and may even turn positive when the …

Persistent link: https://www.econbiz.de/10014254535

Moral Hazard, Investment, and Firm Dynamics

Ai, Hengjie - 2015

We present a dynamic general equilibrium model with heterogeneous firms. Owners of the firms delegate investment decisions to managers, whose consumption and investment are private information. We solve the optimal incentive compatible contracts and characterize the implied firm dynamics....

Persistent link: https://www.econbiz.de/10013037654

A Theory of Firm Decline

Clementi, Gian Luca - 2009

We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter's operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of repeated...

Persistent link: https://www.econbiz.de/10013158062

A theory of firm decline

Clementi, Gian Luca; Cooley, Thomas F.; Di Giannatale, Sonia - 2010 - This version: July 20, 2009

We study the problem of an investor that buys an equity stake in an entrepreneurial venture, under the assumption that the former cannot monitor the latter’s operations. The dynamics implied by the optimal incentive scheme is rich and quite different from that induced by other models of...

Persistent link: https://www.econbiz.de/10008732070

A Theory of Firm Decline

Clementi, Gian Luca; Cooley, Thomas F.; Di Giannatale, … - 2010

Persistent link: https://www.econbiz.de/10014191904

Equity crowdfunding and governance : toward an integrative model and research agenda

Cumming, Douglas J.; Vanacker, Tom; Zahra, Shaker A. - In: Academy of Management perspectives : AMP 35 (2021) 1, pp. 69-95

Persistent link: https://www.econbiz.de/10012522075

Equity Crowdfunding and Governance : Toward an Integrative Model and Research Agenda

Cumming, Douglas J. - 2019

Equity crowdfunding markets have grown exponentially over the last few years. Despite this impressive growth, significant informational asymmetry problems may plague these markets, making them susceptible to difficulties and even market failure. In this paper, we depart from current equity...

Persistent link: https://www.econbiz.de/10012894703

Agency, Firm Growth and Managerial Turnover

Anderson, Ronald W.; Bustamante, Maria Cecilia; … - 2016

We study managerial incentive provision under moral hazard in an environment where growth opportunities arrive stochastically over time and taking them requires a change of management. The firm faces a trade-off between the benefit of always having a manager able to seize new opportunities and...

Persistent link: https://www.econbiz.de/10014040704

Investor Sentiment for Corporate Social Performance

Naughton, James P. - 2018

We document time varying investor sentiment for corporate social responsibility (“CSR”) performance. We show that announcements of CSR activities generate positive abnormal returns during periods when investors place a valuation premium on CSR performance. In addition, we find that firms...

Persistent link: https://www.econbiz.de/10012937280