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This paper empirically investigates how organizational hierarchy affects the allocation of credit within a bank. Using an exogenous variation in organizational design, induced by a reorganization plan implemented in roughly 2,000 bank branches in India during 1999 - 2006, and employing a...
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This paper examines the impact of borrowers' managerial ability on lenders' bank-loan pricing and the channels through which managerial ability affects bank-loan pricing. Using a large sample of U.S. bank loans, we provide evidence that higher managerial ability is associated with lower...
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During its early and formative years, the U.S. tire industry was heavily concentrated around Akron, Ohio. We test the extent to which entrants in Ohio were attracted to the Akron area by agglomeration benefits, contributing to a self-reinforcing process envisioned in many modern theories of...
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We investigate entry in a dynastic entrepreneurship (overlapping generations) environment created by employee spinoffs … increases the rate of spinoffs from original firms. Indeed, if employers have all the bargaining power vis-à-vis their employees …, optimal entry of original firms and all subsequent employee spinoffs is achieved, despite the fact that the original firm can …
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