Financial Markets, Industry Dynamics and Growth
Datos Bibliográficos
| ID | 9707091 |
|---|---|
| Autores | Maurizio Iacopetta (0000-0002-2712-4068, SKEMA Business School, Université Côte d’Azur (GREDEG) and OFCE Sciences Po), Raoul Minetti (0000-0001-7402-9488, Michigan State University), Pietro F Peretto (Duke University) |
| Año | 2019 |
| Volumen | 129 |
| Número | 621 |
| Páginas | 2192-2215 |
| Fecha de publicación | 2019-07-01 |
| Peer Reviewed | Sí |
| Open Access | Sí |
| Tipo | ARTICLE |
| Revista | The Economic Journal (JOURNAL) |
| Identificadores de la revista | ISSN: 0013-0133 • E-ISSN: 1468-0297 |
| Editorial | Oxford University Press (OUP) (PUBLISHER) |
| DOI | 10.1111/ecoj.12635 |
| OpenAlex | W3022158316 |
| Idioma | EN |
| Citas recibidas | 1 |
| Referencias citadas | 46 |
This article introduces corporate governance frictions into a growth model with endogenous market structure. Managers engage in corporate resource diversion and empire building. Shareholders discipline managers with incentive compensation contracts. A reform that mitigates corporate governance frictions boosts firms’ entry and, for a given market structure, has an ambiguous impact on incumbents’ return to product improvement. However, as the market structure adjusts, becoming more diffuse, incumbents invest less in product improvement. Calibrating the model to U.S. data, we find that a reform of the kind recently enacted in several advanced economies can lead to a welfare loss
Business · Compensation (psychology · Corporate governance · Economics · Endogenous growth theory · Human capital · Incentive · Industrial organization · Market economy · Market structure · Product (mathematics · Product market · Shareholder · Welfare · Corporate Finance and Governance · Economic Growth and Productivity · Finance · Firm Innovation and Growth
The Free-Market Innovation Machine
Corporate Governance, Economic Entrenchment, and Growth
Policy distortions and aggregate productivity with heterogeneous establishments
Financial Intermediation and Endogenous Growth
Financial markets and the allocation of capital
Management ownership and market valuation
Theory of the firm
Innovation and Institutional Ownership
Investor protection and corporate governance
Resource abundance, growth and welfare
A Theory of Path Dependence in Corporate Ownership and Governance
Steady Endogenous Growth with Population and R. & D. Inputs Growing
Financial Development, Growth, and the Distribution of Income
Innovation by Leaders
Debt and Seniority
Why Do Management Practices Differ across Firms and Countries
| Obras citantes distintas | 1 |
|---|---|
| Citas por año | 0,25 |
| Intervalo de citas | 2022 - 2022 (1) |
| Velocidad de citación | historical |
| Altamente citado | No |
| Tipos de cita | Neutras: 1 |