This paper extends the Lucas (1978) model of occupational choices by individuals with different skills, beyond the simple options of self-employment or wage-employment, by including a second choice for the self-employed. That is, an option to hire employees and so become self-employed with...

This paper proposes the Nash program on the theory of bargaining as a common ground for the integration of “value capture” and “stakeholders” theories of strategy into a unified framework. We argue that neither the theories of strategy nor the Nash program, sufficiently acknowledge the...

This paper combines the theories on social capital and occupational choices to explain how social capital that saves on transaction costs and scale economies of skills in the production technology, determine the relative specialization between entrepreneurs-managers and markets in governing...

This paper compares the information content of the number of persons self-employed with the number of active firms, as measures of the entrepreneurial resources of an economy. Our purpose is to examine whether the two variables respond equally to the same potential sources of variability...

Using data on marginal interest rates of loan and deposit products by Spanish banks, we find that the level of interest rates on loans (deposits) across geographic markets decrease (increase) with the number of banks in each market, and that the level of interest rates on loans increases with...

Corporate Purpose as a Competitive AdvantageVicente Salas-FumásUniversity of Zaragoza March 2023AbstractThere is a widely held belief that capitalism delivers superior social outcomes if the reason why corporations come into existence, their purpose, is to create social value rather than to...

This paper extends the Lucas (1978) model of occupational choices by individuals with different skills, beyond the simple options of self-employment or wage-employment, by including a second choice for the self-employed. That is, an option to hire employees and so become self-employed with...

This paper studies the dispersion around the expected compensation of workers before and after controlling for hierarchical positions in cross-section data samples. From data for Spanish managers, we find that this dispersion decreases with education and work experience before entering the...

This paper re-examines the results from Value Based and Resource Based approaches to the meaning and measurement of competitive advantage, under the realistic assumptions of restricted bargaining that limit the side payments among buyers and sellers, and adjustment costs that set a time frame...

We set out to model the joint production of entrepreneurs and workers where the former provide both entrepreneurial (strategic) and managerial (coordination, motivation) services whilst management services are shared with individual workers in such a way that output is maximized. The static...