This paper examines how the density and governance of vertically related populations affect the life chances of organizations. We integrate the literatures on organizational ecology and vertical integration to develop a theory of how 1) specialized upstream industries affect downstream survival...

This paper examines the human network of entrepreneurs, and demonstrates the secrets of effective top management teams. More specifically, among entrepreneurs, founders in particular are dynamic by nature and familiar with their own business. However, some lack good skills in marketing and...

Research in the “theory of the firm” tradition has often characterized firms as subeconomies in which economic exchange is shaped by a central authority. We propose an expanded view of firms as subsocieties in which authority is further responsible for establishing principles that shape...

There is a growing consensus among economists that the most procompetitive strategy for restructuring public utility enterprises includes complete vertical separation of the network or grid portion of a sector from other parts of the sector where competition is to be created. Although exceptions...

Emergent economies suffer from underdeveloped market infrastructures and insufficient public institutions to enforce contract commitments and property rights. Informal reputation-based arrangements may substitute for government enforcement but they require close-knit networks that enable...

Conventional wisdom depicts corruption as a tax on incumbent firms. This paper challenges this view in two ways. First, by arguing that corruption matters not so much because of the value of the bribe ("tax"), but because of another less studied feature of corruption, namely bribe...

This paper analyses the specific mechanisms through which legal institutions and the Rule of Law affect firm performance using survey evidence from a sample of about 100 Brazilian firms in the textile and electronics industries. The data provide firms' perceptions of whether judicial...