This paper examines how institutional investors influence investment decisions and returns on investment. To measure investment performance we used a measure of marginal q which measures the ratio of the investment returns to cost of capital. Institutional owners are found to have had a positive...

This paper provides new evidence on the determinants of entrepreneurship across countries. The paper investigates the relationship between the institutional setting, in terms of economic freedom, and entrepreneurship, as measured by self-employment in a panel data setting covering 23 OECD...

During the last 15 years, the social capital literature has grown rapidly. In particular after Robert Putnam’s (1993) study of regional governments in Italy, the interest among economists and politologists exploded as Putnam showed that the concept could be used in quantitative explanations of...

. A constitutionally constrained government may be viewed as an attractive arrangement in that it may limit the rent-seeking behavior by narrowly motivated special interest groups and instead support policies of a Pareto-improving character. However, the introduction of constitutional...

By examining a large number of Swedish listed firms, we analyse how institutional and foreign owners affect investment performance. To measure investment performance Mueller and Reardon’s (1993) marginal q is used, although derived directly from Tobin’s average q. Marginal q measures the...

Utgångspunkten i denna uppsats är att ekonomisk tillväxt och allmänt välstånd kan betraktas som ett resultat av att kunskap om hur nya och bättre varor och tjänster kan produceras allt effektivare byggs upp och tas i bruk. Detta sker inom ramen för kompetensblock, vilka definierar den...

Svensk och internationell forskning har visat att nya och små företag spelar en viktig roll för att skapa industriell utveckling och ekonomisk tillväxt. Det finns dock belägg för att Sverige i ett internationellt perspektiv kännetecknas av en låg nyetableringstakt och en brist på små...

Recognizing that human rationality has bounds that are unequal across individuals entails treating it as a special scarce resource, tied to individuals and used for deciding on its own uses. This causes a meta-mathematical difficulty to the axiomatic theories of human capital and resource...

Like Nelson (2002), I make a case for bringing institutions into evolutionary economics. But unlike Nelson, who defines institutions as social technologies consisting of rules-routines, I define them in agreement with North (1990) as humanly devised rules-constraints — such as formal law and...

Constitutional government is an ideal and like all ideals can only be achieved as an approximation. Even those countries that appear to be near the ideal are revealed on examination to be not so near. Constitutional government, to the extent it is achieved reflects a state of affairs. It remains...