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Faulí-Oller, Ramon; Motta, Massimo - C.E.P.R. Discussion Papers - 1996

We study managerial incentives in a model where managers take not only product market but also take-over decisions. We show that the optimal contract includes an incentive to increase the firm's sales, under both quantity and price competition. This result contrasts with the previous literature,...

Persistent link: https://www.econbiz.de/10005114312

FDI Spillovers in the Chinese Manufacturing Sector: Evidence of firm heterogeneity

Abraham, Filip; Konings, Jozef; Slootmaekers, Veerle - C.E.P.R. Discussion Papers - 2007

We use a new longitudinal data set of more than 15,000 Chinese manufacturing plants to show that the direct and indirect effects of foreign direct investment on measured firm level productivity depend on a number of firm specific features and institutional factors. We find that domestic firms...

Persistent link: https://www.econbiz.de/10005114334

Organizing for Synergies

Dessein, Wouter; Garicano, Luis; Gertner, Robert - C.E.P.R. Discussion Papers - 2007

Multi-product firms create value by integrating functional activities such as manufacturing across business units. This integration often requires making functional managers responsible for implementing standardization, thereby limiting business-unit managers’ authority. Realizing synergies...

Persistent link: https://www.econbiz.de/10005114409

Does Science Make a Difference? Investment, Finance and Corporate Governance in German Industries

Audretsch, David B; Weigand, Jürgen G - C.E.P.R. Discussion Papers - 1999

This paper examines the impact of industry knowledge conditions and corporate governance structures on tangible investment and its financing. Based on a large panel data set of German firms we investigate whether liquidity constraints vary systematically across firms engaged in activities...

Persistent link: https://www.econbiz.de/10005661833

Does Family Control Affect Trade Performance? Evidence for Italian Firms

Barba Navaretti, Giorgio; Faini, Riccardo; Tucci, Alessandra - C.E.P.R. Discussion Papers - 2008

This paper examines whether the export decision of firms is affected by their ownership structure, specifically it looks at whether family control is an obstacle to entering foreign markets. The underlying assumption is that family firms are risk averse. Risk aversion may be an obstacle to...

Persistent link: https://www.econbiz.de/10005666735

Advertising and Mutual Funds: From Families to Individual Funds

Gallaher, Steven; Kaniel, Ron; Starks, Laura T - C.E.P.R. Discussion Papers - 2015

-advertising families. At the family level, flows have a convex relation with advertising expenditures, similar to that for performance … redemptions rather than increasing purchases of fund shares. We further find that advertising can affect the fund’s flow-performance …

Persistent link: https://www.econbiz.de/10011145467

Investing in Low-Trust Countries: Trust in the Global Mutual Fund Industry

Massa, Massimo; Wang, Chengwei; Zhang, Hong; Zhang, Jian - C.E.P.R. Discussion Papers - 2015

cases, trust-related active share delivers superior performance, whereas the economic magnitude is larger for cross …

Persistent link: https://www.econbiz.de/10011196025

In-season head-coach dismissals and the performance of professional football teams

Ours, Jan C van; Van Tuijl, Martin - C.E.P.R. Discussion Papers - 2014

bookmaker data. We find that, after the head-coach has been replaced, teams perform better than before. However, the performance … replacement of head-coaches does not improve team performance. …

Persistent link: https://www.econbiz.de/10011083836

Do Funds Make More When They Trade More?

Pastor, Lubos; Stambaugh, Robert F.; Taylor, Lucian - C.E.P.R. Discussion Papers - 2014

to scale, we find evidence of industry-level decreasing returns: The positive turnover-performance relation weakens when …

Persistent link: https://www.econbiz.de/10011083863

Run For Fun: Intrinsic Motivation and Physical Performance

Filippin, Antonio; Ours, Jan C van - C.E.P.R. Discussion Papers - 2012

teams and run for an hour. This allows us not only to study the individual relationship between age and performance but also … performance goes down with age, although the speed-age gradient is rather flat. Group performance goes down with age as well, but … interestingly a counterbalancing force emerges, namely team dynamics that are driven by performance of runners who enter and leave. …

Persistent link: https://www.econbiz.de/10011083960