Using cross-country data, we evaluate four conceptually distinct causal variables believed to shape property rights institutions: Legal Origin, Endowments, Ethnic Diversity, and Religion. Given the correlations between the explanatory variables, it is difficult to fashion empirical tests which...

There is wide spread concern about a growing gap between top-performing publicly listed firms and the rest of the economy and the implications of this for rising inequality in the U.S. Using conventional return calculations, there is indeed a widening gap between star firms (defined as those in...