lenders and borrowers means that resources are also needed for screening. I show that the privately optimal allocation of …

efficiency demonstrate that the capital allocation process is instead a capability strength. In the first stage of the empirical …The capital allocation process is a fundamental, organizational capability that drives value creation. The bulk of … extant empirical research, as well as evidence from prominent field studies, concludes that the capital allocation process is …

This study investigates how financial development affects capital allocation across industries in a panel of countries … at different stages of development (China, India, Mexico, Korea, Japan and the US) over the period 1980-2014. Following … development is low, faster capital accumulation is associated with a worsening of allocative efficiency. This effect reverses for …

This study investigates how financial development affects capital allocation across industries in a panel of countries … at different stages of development (China, India, Mexico, Korea, Japan and the US) over the period 1980-2014. Following … development is low, faster capital accumulation is associated with a worsening of allocative efficiency. This effect reverses for …

China has achieved impressive growth over the last three decades. However, there has been debate over the sources of … quantifying their contributions to growth. In this paper, we develop a three-sector dynamic model to quantify the sources of China … continues to absorb more than half of all fixed investment. If capital had been allocated efficiently, China could have achieved …

This paper argues that regional variation in the efficiency of labor allocation among German manufacturing plants plays …-West productivity gap is associated with a less efficient labor allocation in former East Germany. Yet, we also demonstrate that the … suggest that regional productivity differences could be substantially narrowed by a more efficient labor allocation among …