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In this paper, we study the effects of business culture on market efficiency. We exogenously vary the type of business culture between business-is-business cultures, which consist on impersonal relationships where financial matters are paramount, and business-is-family cultures, which comprise...
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Berkshire Hathaway, among history's largest and most successful corporations, shuns middlemen; its chairman, the legendary investor Warren Buffett, excoriates financial intermediaries. The acquisitive conglomerate rarely borrows money, retains brokers, or hires consultants. Its governance is...
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Corporate leaders pay considerable attention to the strategy and finances of their organization but often less attention to organizational features that impact whether their strategy is successful, including the decision-making structure and the incentives, values and culture that motivate...
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Although trust is fundamental to social and organizational functioning, the media often portray managers as distrusting, suggesting that distrust of others is a typical personality variable of successful leaders. This study puts the cliché of the distrustful manager to the test. Both selfreport...
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Trust or likewise "confidence" (the term preferred in this paper) are notions which have received considerable … mean by "confidence", what the differences between optimism and confidence are and how the onset of confidence can possibly … be explained. Also, we analyze the economic effects of a lack of or the erosion of confidence. The paper intends to …
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