Has the economy fundamentally changed in the 1990s because of the introduction of information technology or is the impact of IT not so much "new" as larger than before? In this article, Barry Bosworth and Jack Triplett of the Brooking Institution examine this issue with a detailed analysis of...

In this chapter, Andrew Sharpe provides a comprehensive non-technical introduction to the productivity issue, including discussion of productivity concepts, measurement issues, trends and prospects. He begins by noting that productivity is the relationship between the output of goods and...

The Organization of Economic Cooperation and Development (OECD) has in recent years devoted considerable resources to the study of productivity trends in the OECD area. In this article, Dirk Pilat, a senior economist at the OECD provides an overview of the key results of this research effort....

Triangular systems with nonadditively separable unobserved heterogeneity provide a theoretically appealing framework for the modeling of complex structural relationships. However, they are not commonly used in practice due to the need for exogenous variables with large support for...

A stronger long-term orientation is considered a competitive advantage of family firms relative to non-family firms. In this study, we use panel data of U.S. firms and analyze this proposition. Our findings are surprising. Only in when the family is involved in the management of the firm is the...

Purpose: This paper tests the corporate life cycle theory in the context of an emerging market.Design/methodology/approach: We use 3179 non-financial Indian firms’ data for the period 2011-20 to validate the claim. To assess the robustness of empirical relationships, we employ multinomial...

This paper investigates the "misallocation" implications of corporate internal financing. We introduce corporate risk management into a standard continuous-time heterogeneous agent model with incomplete markets. We show that the economy's ability to allocate resources through the price mechanism...

Using qualitative and quantitative methods, the paper draws on the categorization and stigmatization literatures to predict the amount of negative social evaluations received by firms, i.e. disapproval. Association with a stigmatized category does not automatically result in disapproval, because...

We examine the relationship between management turnover and product market structure in a sample of U.S. newspapers from 50 large cities over the 1950-1993 time period. Examining 6 key managerial positions representing 18,849 observation-years, we find evidence of significantly higher rates of...

This paper investigates whether there is any consistency between banks' financial strength ratings (bank rating) and their risk-return profiles. It is expected that banks with high ratings tend to earn high expected returns for the risks they assume and thereby have a low probability of...