The dynamics of company profits for 172 of the largest manufacturing firms in Turkey are studied. A time-series analysis is used to estimate the long-run projected profits and firm-specific speed of adjustment parameters that measures the rate at which short-run rents are eroded. While...

This paper reviews recent research on corporate governance, with a special focus on emerging markets. It finds that better corporate governance benefit firms through greater access to financing, lower cost of capital, better performance, and more favorable treatment of all stakeholders. Numerous...

We investigate the effect of team formation and task characteristics on performance in high-stakes team tasks. In two field experiments, randomly assigned teams performed significantly better than self-selected teams in a task that allowed for an unequal work distribution. The effect was...

The book aims to further our understanding of how economic reasoning and legal expertise complement each other in defining the fundamental issues and principles in competition policy. In specially commissioned chapters the book provides a scholarly review of economic theory, empirical evidence...

We investigate the gender wage gap in top corporate jobs for the years 2000 till 2004. Using data from the OSIRIS database, we ¯nd that female managers receive 24.0 percent less in total compensation (salary, bonuses, other payments and exer- cised stock options) than their male colleagues....

We examine the effects of mergers on the returns to acquiring companies' shareholders for a large sample of companies from both Anglo-Saxon and non-Anglo-Saxon countries over the 1980s and 1990s. With the important exception of Japan, we find similar patterns of returns across both types of...

In recent years considerable attention has been devoted to differences across countries in the institutional environments in which corporations operate, and the consequences of these institutional differences for corporate performance. In this paper we test for the presence of differences in...