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In this paper we are concerned with the impact the public sector has on private sector innovation. Perhaps the most important issue is whether public sector innovation, or lack of it, impacts upon pri...
A new methodology measures the importance of different mechanisms for supporting agreements. Romanian company directors were surveyed on a full complement of mechanisms. Bilateralism is preponderant a...
Prepared for the Handbook Of New Institutional Economics, this chapter focuses on how the NIE has been used to understand transition and how the experience of transition can help inform the NIE. It fi...
Leverage Across Firms, Banks and Countries     crisis  international  banks         2015/9/21
We present new stylized facts on bank and rm leverage during the period 2000{2009 using internationally comparable micro level data from many countries. We document the following patterns: a) there...
Recently there has been a signi"cant decline in the degree to which "rms &pass through' changes in costs to prices, a decline that is frequently characterized as a reduction in the &pricing power' o...
Global value chains (GVCs) allow firms to produce and export final goods, or to perform only intermediate stages of production by processing imported inputs for re-exporting. We examine how financ...
A key trend in international trade over the last two decades has been the rising fragmentation of production across countries. We use rm-level customs data, matched manufacturing census data, and I...
Financial market imperfections severely restrict international trade áows because exporters require external capital. This paper identiÖes and quantiÖes the three mechanisms through which ...
We use an innovative survey tool to collect management practice data from 732 medium-sized firms in the United States, France, Germany, and the United Kingdom. These measures of managerial practice ar...
Matching 2,777 R&D firms in surveys conducted by the National Research Council between 1921 and 1938 with U.S. patents reveals that 59 percent of all firms and 88 percent of publicly-traded firms pate...
In traditional markets, the price mechanism directs the flow of resources and governs the process through which supply and demand are brought into equilibrium. In the investment-research industry, bro...
High ability individuals can be constrained from commensurate employment opportunities due to their geographic location. In the face of physical, informational and social barriers to migration, firms ...
The success or failure of a company is often ascribed to the behavior of its CEO. Yet little is known about what top managers actually do, whether this matters for firm performance, and why it differs...
We examine which independent directors are held accountable when investors sue firms for financial and disclosure related fraud. Investors can name independent directors as defendants in lawsuits, and...

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