This paper discusses a portfolio endowment policy as an alternative to conventional privatization policies. The portfolio endowment policy endows each citizen with a financial instrument representing a portfolio of state-sponsored enterprises. The policy is analyzed in terms of efficiency and...

Recent corporate scandals and subsequent regulatory actions have heightened both the academic communities and the public's interest in corporate governance issues. Academics have long argued that voting rights constitute a critical component of a system of corporate governance. We provide...

We compare market returns associated with firms' creation of new units focused on e-business. Two aspects of organization design - governance and leadership - are considered with regard to exploitation - and exploration-oriented organization learning. We find that exploitation in governance...