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Registros recuperados: 110 | |
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Aghion, Philippe; Van Reenen, John; Zingales, Luigi. |
We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional owners increase managerial incentives to innovate by reducing the career risk of risky projects. The data supports the career concerns model. First, whereas the lazy manager hypothesis predicts a substitution effect between institutional ownership and product market competition (and managerial entrenchment generally), the career-concern model allows for complementarity. Empirically, we reject substitution effects. Second, CEOs are less likely to be fired in the face of... |
Tipo: Working or Discussion Paper |
Palavras-chave: Career Concerns; Innovation; Institutional Ownership; Productivity and R&D; Financial Economics; G20; G32; O31; O32; O33. |
Ano: 2010 |
URL: http://purl.umn.edu/93414 |
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Blackman, Allen. |
Increasingly, conventional wisdom dictates that agrarian policy in developing countries should foster a "doubly green revolution" that both protects the environment and boosts output. Like the first green revolution, such a transformation will entail convincing millions of farmers to adopt new practices and, as a result, will confront well-documented barriers to technological change in developing-country agriculture. It will also face a number of new obstacles, including a divergence between the interests of policymakers and farmers, a policy environment biased in favor of input-intensive agriculture, and the fact that many environmentally friendly technologies entail relatively high set-up costs. At least in the short run, institutional constraints will... |
Tipo: Working or Discussion Paper |
Palavras-chave: Agriculture; Developing country; Green revolution; Environment; Environmental Economics and Policy; O13; O33; Q2; Q16; Q18. |
Ano: 2000 |
URL: http://purl.umn.edu/10476 |
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Yu, Li; Orazem, Peter F.. |
Kremer’s O-Ring production theory (QJE, 1993) describes a process in which a single mistake in any one of several tasks in firm’s production process can lead to catastrophic failure of the product’s value. This paper tests the predictions of the O-Ring theory in the context of a single market for a relatively homogeneous product: hog production. Consistent with the theory, the most skilled workers concentrate in the largest and most technologically advanced farms and are paid more. As with observed skills, workers with the greatest endowments of unobserved skills also sort themselves into the largest and most technology intensive farms. |
Tipo: Working or Discussion Paper |
Palavras-chave: Labor and Human Capital; Production Economics; Farm Management; L11; O33; J43. |
Ano: 2008 |
URL: http://purl.umn.edu/44873 |
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Sykuta, Michael E.; Klein, Peter G.; James, Harvey S., Jr.. |
The rise of contract farming and vertical integration is one of the most important changes in modern agriculture. Yet the adoption and diffusion of these new forms of organization has varied widely across regions, commodities, or farm types, however. Transaction cost theories and the like are not fully effective at explaining the variation of adoption rates of different organizational forms, in part because of their inherent static nature. In order to explain the adoption, diffusion and evolution of organizational form, a more dynamic framework is required. This paper lays out such a framework for understanding the evolution of organizational practices in U.S. agriculture by drawing on existing theories of economic organization, the diffusion of... |
Tipo: Conference Paper or Presentation |
Palavras-chave: Contracting; Vertical integration; Organizational innovation; Diffusion; Institutional and Behavioral Economics; L14; L22; Q13; O33. |
Ano: 2005 |
URL: http://purl.umn.edu/19390 |
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Registros recuperados: 110 | |
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