A Fast Literature Search Engine based on top-quality journals, by Dr. Mingze Gao.
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Results 347 resources
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This paper compares the efficiency of two information structures of the firm in coordinating operational decisions among technologically-interrelated constituent units (shops) whose costs are uncertain. The structures compared are a hierarchical one in which the capability of management to monitor and respond to emergent events at the shop level is bounded; and a horizontal one inwhich production decisions are coordinated among shops without the centralization of information, but the capability of semiautonomous problem-solving by component units im proves over time through learning-by-doing and better uses of on-the-spot knowledge. A comparison of Japanese and American practices precedes the analysis. Copyright 1986 by American Economic Association.
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Maddison's 1870-1979 data are analyzed, showing the historically unprecedented growth in productivity, GDP per capita and exports and the remarkable convergence of productivities of industrialized market economies, with convergence apparently shared by planned economies but not less developed countries. Productivity lag's relation to "deindustrialization," unemployment and balance of payments is examined. The data confirm that U.S. productivity growth fell behind its extraordinary postwar peak but probably not below its long term level. It is also shown that more rapid productivity growth of other countries may only be a normal concommitant of convergence. Copyright 1986 by American Economic Association.
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The authors argue that product market decisions and financial structure will normally be related. Assuming an oligopoly structure in which financial decisions and output decisions follow insequence, it is shown that limited liability may commit a leveraged firm to a more aggressive output stance, expanding its market share and profit at the expense of a fully equity-financed rival. Firms will therefore have incentives to use financial structure to influence the product market, leading normally, to an internal solution for the debt equity ratio even in the absence of bankruptcy costs and tax advantages of debt.
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This paper presents an empirical analysis of firm-specific employment and wage outcomes for mechanics in the domestic airlines industry. A dynamic contracting model is presented that incorporates both costly employment adjustment and potential gaps between contract wage rates and the opportunity value of workers' time. The model gives a useful description of the employment-output linkage in the data, but is less successful in capturing the dynamic relation between employment, contract wage rates, and wage rates outside the airline industry. Copyright 1986 by American Economic Association.
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Journals
- American Economic Review (205)
- Journal of Finance (96)
- Journal of Financial Economics (46)
Topic
- Bond (10)
- Mergers and Acquisitions (2)