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How do firms respond to new institutions? This question is addressed by analyzing the determinants of firms’ strategies on transactional governance, using data from a Romanian survey.Strategy variable...
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...
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...
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...
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...
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...
We use an innovative survey tool to collect management practice data from over 4,000 medium sized manufacturing firms across Asia, Europe and the US. These measures of managerial practice are strongly...
Private firms in the U.S. are not subject to public reporting requirements, so relatively little is known about their characteristics and behavior—until now. This Data Appendix describes a new databas...
This paper proposes a set of conditions under which high-status firms retain their positions, even if they lose resources. Firms are considered high status if they obtain ties from other high-status f...
We use Transparency International's ratings of self-reported anticorruption efforts for 480 corporations to analyze factors underlying the ratings. Our tests examine whether these forms of disclosure ...
We examine how organizational structure influences strategies over which corporate leaders have significant discretion. Corporate philanthropy is our setting to study how a differentiated structural e...
Theories of the firm have been dominated by a legacy of ideas from early industrialization that pose zero-sum opposition between capital and labor (or capital and nearly everything else), differentiat...

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