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In many U.S. states, the law firms that represent lenders in foreclosure proceedings must hire auctioneers to carry out the foreclosure auctions. The authors empirically test whether processing times differ for law firms that integrate the mortgage foreclosure auction process compared with law...
Persistent link: https://www.econbiz.de/10013013531
We develop a model in which the heterogeneous firms in an industry choose their modes of organization and the location of their subsidiaries or suppliers. We assume that the principals of a firm are constrained in the nature of the contracts they can write with suppliers or employees. Our main...
Persistent link: https://www.econbiz.de/10014097997
Empirical research on the principal-agent model has focused almost exclusively on the incentives provided to chief executive officers. However, the model is also directly relevant to the incentives provided to other top executives. Furthermore, the extent to which other executives will be...
Persistent link: https://www.econbiz.de/10014027832
Persistent link: https://www.econbiz.de/10015194588
We describe and discuss Ronald Coase's approach to managerial authority, placing it in the broader context of recent economics and management research on intrafirm coordination. To do so, we make use of work by Coase that is relatively little known, namely his writings on opportunity cost...
Persistent link: https://www.econbiz.de/10012999896
Previous research has consistently demonstrated a positive relation between firm size and skill premium. We decompose this result by type of skilled worker using data from Chilean firms and find that returns in skill premium to size are an order of magnitude larger for owners and managers...
Persistent link: https://www.econbiz.de/10012954536
This article, from The Oxford Handbook of Dynamic Capabilities (David J. Teece & Sohvi Leih, eds. 2016), describes the construct of “legal astuteness” and explains why it is a valuable dynamic capability. It also examines the systems approach to law and strategy, which embeds the top...
Persistent link: https://www.econbiz.de/10012986607
Executive management as a distinct occupational category from general management seems to be becoming increasingly professionalized. From a power perspective, CEOs dominate the decision-making apparatus of our major business enterprises. From an attribute approach to professionalization, there...
Persistent link: https://www.econbiz.de/10012922126
This article addressed one of the hardest unanswered legal questions facing the modern nonprofit corporation: How much discretion should nonprofit boards have to redefine an organization's mission - for instance by changing an acute care hospital into outpatient neighborhood clinics, or by...
Persistent link: https://www.econbiz.de/10014026686
This paper examines the human network of entrepreneurs, and demonstrates the secrets of effective top management teams. More specifically, among entrepreneurs, founders in particular are dynamic by nature and familiar with their own business. However, some lack good skills in marketing and...
Persistent link: https://www.econbiz.de/10014027544