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作者：Aghion, Philippe; Van Reenen, John; Zingales, Luigi
作者单位：Harvard University; University of London; London School Economics & Political Science; University of Chicago; National Bureau of Economic Research
摘要：We find that greater institutional ownership is associated with more innovation. To explore the mechanism, we contrast the lazy manager hypothesis with a model where institutional owners increase innovation incentives through reducing career risks. The evidence favors career concerns. First, we find complementarity between institutional ownership and product market competition, whereas the lazy manager hypothesis predicts substitution. Second, CEOs are less likely to be fired in the face of pr...
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作者：Grennan, Matthew
作者单位：University of Toronto
摘要：Many important issues in business-to-business markets involve price discrimination and negotiated prices, situations where theoretical predictions are ambiguous. This paper uses new panel data on buyer-supplier transfers and a structural model to empirically analyze bargaining and price discrimination in a medical device market. While many phenomena that restrict different prices to different buyers are suggested as ways to decrease hospital costs (e. g., mergers, group purchasing organization...
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作者：Sutter, Matthias; Kocher, Martin G.; Glaetzle-Ruetzler, Daniela; Trautmann, Stefan T.
作者单位：University of Innsbruck; University of Gothenburg; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; University of Munich; Tilburg University; Tilburg University
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作者：Gibson, Rajna; Tanner, Carmen; Wagner, Alexander F.
作者单位：University of Geneva; University of Zurich; University of Zurich; Swiss Finance Institute (SFI); Harvard University
