We demonstrate the importance of distinguishing between the traditional use of labor for production, versus alternative uses of labor for overhead, marketing and other expansionary activities, for studying the distribution of both factor income and labor income. We use our framework to assess...

A debate is raging over the taxation of private equity and hedge fund managers. It is being played out in the headlines, in Congress and among legal scholars. This paper offers a new analysis of the subject. We provide an analytical model that allows us to compare the relative risk-reward...

In this Article, I estimate the tax revenue effects of taxing private equity carried interests as ordinary income rather than as long-term capital gain as under current law. Under reasonable assumptions, I conclude that the expected present value of additional tax collections would be between 1...

This paper develops a simple competitive model of CEO pay. A large part of the rise in CEO compensation in the US economy is explained without assuming managerial entrenchment, mishandling of options, or theft. CEOs have observable managerial talent and are matched to assets in a competitive...

The countries that were once British colonies in the Caribbean share a common language and a colonial history of slavery, dominance of a plantation-based sugar industry, and broadly similar government and administrative traditions. Following independence in the late-1960s economic strategies and...

This paper is concerned with those actions of business firms which are aimed at managing the business and economic risks and uncertainties. The standard example of risk management is finance and insurance but these only capture a small fraction of the business risk faced by a company in a...

The paper presents competitiveness and efficiency of the Polish fruit farms against similar farms from selected European Union countries. The analysis covered farms specialising in fruit trees and bushes covered by FADN monitoring in 2007-2009 and 2011-2013. Competitiveness of the researched...

There are two global trends in production technologies: the increasing fixed costs in manufacturing and the expanding network effect in services. The first require ever-bigger market size before making break even. The second makes the first-mover invincible. As a result, a few firms will...

The paper presents the level of competitiveness of the Polish dairy farms at the background of farms from the selected European Union countries. The selection was not random. The research covered farms from the following countries: Poland, Hungary, Lithuania, Austria, Germany, Denmark, the...

Using a nested multiple-case study of participating ventures, directors, and mentors of eight of the original U.S. accelerators we explore how accelerators' program designs influence new ventures' ability to access, interpret, and process the external information needed to survive and grow....