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How do geographic frictions affect firm organization? We show theoretically and empirically that geographic frictions increase the use of middle managers in multi-establishment firms. In our model, we assume that the time of the CEO of a firm is a resource of limited supply that is shared among...
Persistent link: https://www.econbiz.de/10011955563
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What happens to firms' organizational structure when they are hit by a negative shock? By matching employer-employee data with firm loans and bank balance sheets, I study firms’ reactions to a credit shock - the global financial crisis - and compare it to a trade shock - the entry of China in...
Persistent link: https://www.econbiz.de/10012162664
theory of knowledge hierarchies in an industry equilibrium model of monopolistic competition to examine how the economic … test the theory with original and matched parent and affiliate data on the level of decentralization of 660 Austrian and …
Persistent link: https://www.econbiz.de/10012119950
This paper investigates the effects on firms’ occupational structure of shocks induced by the introduction of Technical Barriers to Trade (TBTs) in importing countries. We rely on the Specific Trade Concern (STC) data released by the WTO to identify trade-restrictive TBT measures, combined...
Persistent link: https://www.econbiz.de/10012261148
In this paper we replicate most of the stylized facts characterizing the decline in business dynamism in the USA highlighted by Akcigit and Ates (2021) and provide an explanation of their emergence by means of a macroeconomic agent-based model populated by two types of firms: innovators who...
Persistent link: https://www.econbiz.de/10014383652
Persistent link: https://www.econbiz.de/10003624471
This paper provides the first in-depth study of the organization of knowledge in multinational firms. The paper develops a theoretical model that studies how firms optimally split knowledge between their headquarters and their production plants if communication costs impede the access of...
Persistent link: https://www.econbiz.de/10011281300
When people exchange ideas, both truths and falsehoods can proliferate. We study the role of explanations for the spread of truths and falsehoods in 15 financial decision tasks. Participants record the reasoning behind each of their answers with incentives for accuracy of their listeners’...
Persistent link: https://www.econbiz.de/10014543835
We study a model of network formation and start-up financing with endogenous entrepreneurial type distribution. A hub firm admits members to its network based on signals about entrepreneurs' types. Network membership is observable, which allows lenders to offer different interest rates to...
Persistent link: https://www.econbiz.de/10003974212