| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP13513
|
| DP13513 Organizational Capital, Corporate Leadership, and Firm Dynamics |
| Wouter Dessein; Andrea Prat
|
| 发表日期 | 2019-02-06
|
| 出版年 | 2019
|
| 语种 | 英语
|
| 摘要 | We argue that economists have studied the role of management from three perspectives: contingency theory (CT), an organization-centric empirical approach (OC), and a leader-centric empirical approach (LC). To reconcile these three perspectives, we augment a standard dynamic firm model with organizational capital, an intangible, slow-moving, productive asset that can only be produced with the direct input of the firm's leadership and that is subject to an agency problem. We characterize the steady state of an economy with imperfect governance, and show that it rationalizes key findings of CT, OC, and LC, as well as generating a number of new predictions on performance, management practices, CEO behavior, CEO compensation, and governance. |
| 主题 | Financial Economics
; Industrial Organization
|
| 关键词 | Ceo
Management
Organizational capital
|
| URL | https://cepr.org/publications/dp13513
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542330
|
推荐引用方式
GB/T 7714 |
Wouter Dessein,Andrea Prat. DP13513 Organizational Capital, Corporate Leadership, and Firm Dynamics. 2019.
|
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