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Institutional Inertia.

We study the relative efficiency of outside-owned versus employee-owned firms and analyze implications for institutional change in a context of technological innovation. When decisions are made through majority voting, the vote on technology choice is used to influence the later vote on the sharing...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Valderrama, Laura
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
Acceso en línea:Texto completo

MARC

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505 0 |a Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. A Tale of Explorers, Gold, and Diamonds; III. The Model; A. The Cooperative; 1. Redistribution (date 2 vote); 2. Technology choice (date 1 vote); 3. Example: Voting for an inefficient polarized technology; B. Outside Ownership; C. Cooperatives versus Outside Ownership; IV. Institutional Inertia; V. Discussion; A. Supporting Evidence; B. Implications for Institutional Design; VI. Concluding Remarks; References; Footnotes. 
520 |a We study the relative efficiency of outside-owned versus employee-owned firms and analyze implications for institutional change in a context of technological innovation. When decisions are made through majority voting, the vote on technology choice is used to influence the later vote on the sharing rule. We show how this dynamic voting generates a systematic technological bias that is contingent on firm ownership. We provide conditions under which the pivotal voter's political leverage leads the firm to an institutional trap whereby majority voting and inefficient technology choice reinforce e. 
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650 0 |a Industrial management. 
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