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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 ...
This article establishes six stylized facts about firms’ export prices using detailed customs data on the universe of Chinese trade flows. First, across firms selling a given product, exporters that...
For the past decade we have been using double-blind survey techniques and randomized sampling to construct management data on more than 10,000 organizations across 20 countries. On average, we find th...
We survey the theoretical and empirical literature on decentralization within firms. We first discuss how the concept of incomplete contracts shapes our views about the organization of decision-making...
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...
Private equity (PE) ownership has become commonplace within the US, and is increasing its presence across Europe and Asia. However, there is still some debate over the impact of PE acquisitions on fir...
The relationship between the number of Örms and price competition is a central issue in economics. To explore this relationship, we modify Varianís (1980) model and assume that Örms are priv...
Has greater turbulence among firms fueled rising wage instability in the U.S.? Gottschalk and Moffitt [1994] find that rising earnings instability was responsible for one third to one half of the rise...
We identify the impact of local firm concentration on incumbent performance with a quasi-natural experiment. When Germany was divided after World War II, many firms in the machine tool industry fled t...
Do Firms Change Capabilities by Hiring New People?A Study of the Adoption of Science-based Drug Discovery.
There is a widespread sense that over the last two decades firms have been decentralizing decisions to employees further down the managerial hierarchy. Economists have developed a range of theories to...
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...
We identify the impact of local firm concentration on incumbent performance with a quasi-natural experiment. When Germany was divided after World War II, many firms in the machine tool industry fled t...
We study the implications of CEO equity ownership for incentives and control in a sample of 1,011 newly public firms. Before an initial public offering, equity investments by venture capitalists reduc...

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