This paper uses a rich panel dataset of Spanish manufacturing firms (1990-2006) and a propensity score reweighting estimator to show that multinational firms acquire the most productive domestic firms, which, on acquisition, conduct more product and process innovation (simultaneously adopting...

The ‘knowledge economy’ is a concept commonly deemed too ambiguous and elusive to hold any significance in current economic debate. This valuable book seeks to refute that myth. Presenting an important collection of views, from a number of leading scholars, this innovative volume...

Stock price synchronicity has been attributed to poor corporate governance and a lack of firm-level transparency. This paper investigates the association between different kinds of firm interlocks, control groups, and synchronicity in Chile. A unique data set containing equity cross-holdings,...

Purpose – The purpose of this paper is to study organizational learning from complex and heterogeneous experiences. According to March (2010), this kind of high intellect learning is difficult to accomplish because it requires deliberate investments in knowledge transfer and creation. Zollo...

Agglomeration in foreign direct investment (FDI) is typically attributed to location-specific characteristics such as natural resource advantages or production-related spillovers between multinational firms. The increasing collocation of the largest global firms in the cement industry since the...

When partially inalienable managerial entrenchment is introduced to Zwiebel's 1996 model of dynamic capital structure, anticipated debt renegotiation between a higher-type manager and the creditor reduces expected firm value. Only lower-type managers can issue debt to avoid shareholder takeover.

Lazaric N., Longhi C. and Thomas C. Gatekeepers of knowledge versus platforms of knowledge: from potential to realized absorptive capacity, Regional Studies. The development of clusters rests on geographical proximity, cognitive interactions as well as entrepreneurial initiatives. Sophia...

I analyze country-level product ranges offered by multinational laundry detergent manufacturers in Western Europe. Observed product range variation across countries exceeds the optimal firm-level response to differences in consumer preferences and retail environments. Counterfactual analysis...