analyze how this mechanism affects the selection of executives and, through this, the firm's productivity compared to a … conglomerate or by a foreign entity. The resulting distortion in executive selection can account for total factor productivity …

Productivity. We endogenize the accrual of the R&D stocks by estimating an R&D investment function. We find that the marginal …

China's economy grew by an impressive 10 percent per year over four decades. Productivity improvements within sectors … and gains from resource reallocation between sectors and ownership groups drove that expansion. However, productivity … allocation to more productive firms were associated with slower manufacturing total factor productivity growth. Earlier reforms …