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Is Productive Entrepreneurship Getting Scarcer? A Reflection on the Contemporary Relevance of Baumol's Typology

Minniti, Maria; Naudé, Wim; Stam, Erik - 2023

constraints on productive entrepreneurship would require that the decline in level-two institutions, such as democracy and science …We review Baumol's typology of productive, unproductive and destructive entrepreneurship. We argue that the typology is … the thesis that entrepreneurship has become less productive, due to the unintended effects of entrepreneurship policies …

Persistent link: https://www.econbiz.de/10014377311

Tax Policy, Location Choices, and Market Structure

Pfann, Gerard A.; van Kranenburg, Hans - 2002

A structural model of entry and fiscal policy is presented. It shows that taxation of variable production costs can increase product prices, lower competition, and reduce the availability of new products in small markets. The model?s test is based on a unique nationwide fiscal experiment. We...

Persistent link: https://www.econbiz.de/10010274360

Are we there yet? Time for checks and balances on new institutionalism

Iyigun, Murat - 2012

identification, they too narrowly defined what Northian institutions entail. As a matter of fact, political, legal and economic … institutions are highly malleable even in advanced economies, while sustained economic growth could well be deep rooted in …

Persistent link: https://www.econbiz.de/10010290007

Retained State Shareholding in Chinese PLCs : Does Government Ownership Reduce Corporate Value?

Tian, Lihui; Estrin, Saul - 2005

The role of government shareholding in corporate performance is central to an understanding of China?s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...

Persistent link: https://www.econbiz.de/10010262209

Executive compensation, firm performance, and chaebols in Korea: evidence from new panel data

Kato, Takao; Kim, Woochan; Lee, Ju Ho - 2005

This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...

Persistent link: https://www.econbiz.de/10010267324

Social networks in the boardroom

Kramarz, Francis; Thesmar, David - 2006

This paper provides empirical evidence consistent with the facts that (1) social networks may strongly affect board composition and (2) social networks may be detrimental to corporate governance. Our empirical investigation relies on a unique dataset on executives and outside directors of...

Persistent link: https://www.econbiz.de/10010267612

Firm performance and managerial turnover: the case of Ukraine

Muravyev, Alexander; Talavera, Oleksandr; Bilyk, Olga; … - 2009

The paper studies whether and how CEO turnover in Ukrainian firms is related to their performance. Based on a novel dataset covering Ukrainian joint stock companies in 2002-2006, the paper finds statistically significant negative association between the past performance of firms measured by...

Persistent link: https://www.econbiz.de/10010271280

Ownership or Performance: What Determines Board of Directors' Turnover in Italy?

Brunello, Giorgio; Graziano, Clara; Parigi, Bruno Maria - 2000

This paper studies the turnover of board of directors members in a sample of 72 companies listed on the Milan Stock Exchange during the period 1988-1996. We investigate whether board members change more frequently when company performance is poor, as the literature suggests, and whether and how...

Persistent link: https://www.econbiz.de/10010276137

The value relevance of top executive departures: evidence from the Netherlands

Cools, Kees; van Praag, C. Mirjam - 2007

On theoretical grounds, monitoring of top executives by the (supervisory) board is expected to be value relevant. The empirical evidence is ambiguous and we analyze three non-competing explanations for this ambiguity: (i) The positive effect on firm value of board monitoring is hidden in stock...

Persistent link: https://www.econbiz.de/10010276315

Rhineland exit?

Bovenberg, Ary Lans; Teulings, Coen N. - 2008

We argue in favour of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders leads to ill-defined property rights. What sounds like a fair compromise between stakeholders can easily evolve in a permanent struggle between the stakeholders about the ultimate...

Persistent link: https://www.econbiz.de/10010276859