Using firm-level data from nine developing countries we demonstrate that (a) certain institutions like restrictive labour market regulations that are considered to be bad for economic growth might be beneficial for production efficiency, whereas (b) good business environment which is considered...

Using firm-level data from nine developing countries we demonstrate that (a) certain institutions like restrictive labour market regulations that are considered to be bad for economic growth might be beneficial for production efficiency, whereas (b) good business environment which is considered...

Using firm-level data from nine developing countries we demonstrate that (a) certaininstitutions like restrictive labour market regulations that are considered to be bad foreconomic growth might be beneficial for production efficiency, whereas (b) good businessenvironment which is considered to...

This paper analyzes the causes, responses, and consequences of the Fukushima nuclear power plant accident (March 2011) by comparing these with Three Mile Island (March 1979) and Chernobyl (April 1986). We identify three generic modes of organizational coordination: modular, vertical, and...

From European integration to domestic politics to the development of the global economy, technocracy and private ordering have shaped economic behaviour. Such transformative private-driven forces of economic activity flourished through the promulgation of voluntary standards. In view of the...

Firm integration is fundamentally shaped by contractual frictions. But do better contracting institutions, reducing these frictions, induce firms to be more or less deeply integrated? To address this question, this paper exploits unique micro data on ownership shares across more than 200,000...

Among economists, the view that precisely defined and reliably enforced property rights are generally conducive to economic growth has been quasi-unanimous. But recently, some authors have argued that the relationship is more complex than previously acknowledged: property rights reforms might,...

Societal inequalities – mainly, economic – are a topical subject. Given the dominance of large business corporations in the US and Canada, an important question is about corporations’ role in shaping the socioeconomic trends, including inequality. "Beyond Shareholder Value - A Framework...

From the legal point of view, "person" is not co-extensive with "human being." Nor is it synonymous with "rational being" or "responsible subject." Much of the confusion surrounding the issue of the firm’s legal personality is due to the tendency to address the matter with only these, all too...

Hierarchies are pervasive in political settings. From judges to elected politicians, from activists to bureaucrats, political agents compete to be promoted to higher positions. This paper studies political tournaments and their impact on key aspects of political performance: accountability and...