威廉姆森商学院：高管需要体验多元文化

中国的快速崛起是美国在21世纪必须面对的最严峻的挑战之一。按照目前的经济增长速度,中国经济可能到本世纪中就能赶上美国。这样可能会导致全     

Strongly stable networks

We analyze the formation of networks among individuals. In particular, we examine the existence of networks that are stable against changes in links by any coalition of individuals. We show that to investigate the existence of such strongly stable networks one can restrict focus on a component-wise egalitarian allocation of value. We show that when such strongly stable networks exist they coincide with the set of efficient networks (those maximizing the total productive value). We show that the existence of strongly stable networks is equivalent to core existence in a derived cooperative game and use that result to characterize the class of value functions for which there exist strongly stable networks via a “top convexity” condition on the value function on networks. We also consider a variation on strong stability where players can make side payments, and examine situations where value functions may be non-anonymous—depending on player labels.     

Measuring the impact of work reorganization on firm performance: evidence from French manufacturing, 1995–1999

In this paper, we apply the method of selective matching to estimate the causal effect of organizational changes on employment, stock of capital, value added, and factor productivity. Derived from a panel of 2404 French manufacturing firms in 1997, our estimates show that work reorganization improves firm performance overall through a more efficient use of labor and capital, without requiring any increase in the factors of production.     

A cross-country comparison of corporate governance and firm performance: Do financial structure and the legal system matter?

We blend the corporate governance and the financial structure/legal system literature streams to study whether firm performance is enhanced when its governance structure embodies the demands of the host country’s financial structure and legal system. Using a sample of 1736 unique firms representing 22 countries, we find that the joint effect of a country’s financial structure and legal system does matter when explaining the relationship between performance and the overall level of corporate governance in a given country. The results also suggest that firms operating in the market/common combination countries tend to command higher market valuations than firms with a comparable level of corporate governance that operate in the bank/civil combination countries.     

The development of company law in India: The case of the Companies Act 1956

The influence of social and cultural context, including imperial influences, and politics on the promulgation of the Companies Act 1956 in post independence India, focusing in particular on accounting regulations incorporated in the Act, is explored using a framework based on the work of McKinnon [McKinnon JL. The historical development of the operational form of corporate reporting regulation in Japan. New York: Garland; 1986]. Within the framework, the promulgation of the Companies Act 1956 is analysed into three phases: source, diffusion and reaction with all phases being influenced by the social and cultural context of India and political processes. In particular, the importance of the role of the government and the socio-economic and cultural context of India is indicated in both the need for, and in the process of, change to the Companies Act 1956.     

EXAMINATION OF A PATH MODEL RELATING INFORMATION TECHNOLOGY INFRASTRUCTURE WITH FIRM PERFORMANCE

This article draws on the resource‐based view of the firm to investigate the mechanisms through which information technology (IT) impacts firm performance. Research suggests that the relationship between IT and firm performance may be both direct and indirect. In this study, a path model is tested that proposes a firm's IT infrastructure resources as having both a direct impact on organizational performance, as well as an indirect effect that is propagated through its impact on an intermediate organizational resource, a firm's logistics information system (LIS). The results suggest that positive firm performance may be derived directly from an organization's superior IT infrastructure, as well as indirectly, through its enabling impact on LIS's. These findings contribute to our understanding of the nature of the relationship between IT and firm performance by exploring the value of IT at both the process and organizational levels.     

Public Research Policy for Today's Agricultural Biotech Research Industry

While the public sector has historically played a very significant role in the direct provision of agricultural research, the appropriate role of government in the future is no longer apparent in a world with intellectual property rights (IPRs) and a concentrated privatized biotech research industry. This study develops a search/imperfect competition framework to examine the public role. The analysis shows that private firms have inadequate incentives to invest in research for varietal improvement relative to the social optimum even with completely enforceable IPRs. A government subsidy on research output can efficiently increase the amount of applied research to the socially optimal point. Government subsidy of the research cost can have the same effect on research and development expenditure. Expanding direct applied public research increases social welfare but cannot achieve a social optimum, as it reduces the already limited incentives for private firms to invest. Finally, in situations where basic research is underprovided, government should address these market failures as part of an optimal research policy. Overall, the analysis suggests that there is a role for public support of applied research, but this role is no longer direct public involvement in applied research where IPRs are well established.