Empirical studies of firms within industries consistently report substantial heterogeneity in measures of performance such as size and productivity. This paper explores the consequences of joint heter
Traditional U.S. industries with higher firm-specific stock return and fundamentals performance heterogeneity use information technology (IT) more intensively and post faster productivity growth in th
The analyses in the "Politically Connected Owners" paper include both proprietary and publicly-available data. The proprietary data can be accessed through the Bureau Van Dijk Orbis database. We inclu
Scholars engage in extensive debate about the role of families and corporations in economic growth. Some propose that personal ties provide a mechanism for overcoming such transactions costs as asymme
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