Institution
London School of Economics and Political Science
Education•London, United Kingdom•
About: London School of Economics and Political Science is a education organization based out in London, United Kingdom. It is known for research contribution in the topics: Population & Politics. The organization has 8759 authors who have published 35017 publications receiving 1436302 citations.
Topics: Population, Politics, European union, Health care, Government
Papers published on a yearly basis
Papers
More filters
•
TL;DR: In this article, the spatial distribution of economic activities in the European Union has been investigated, and the authors present descriptive evidence on the location of aggregate activity and particular industries and consider how these location patterns are changing over time.
Abstract: This Paper considers the spatial distribution of economic activities in the European Union It has three main aims: (i) to describe the data that is available in the EU and give some idea of the rich spatial data sets that are fast becoming available at the national level; (ii) to present descriptive evidence on the location of aggregate activity and particular industries and to consider how these location patterns are changing over time; (iii) to consider the nature of the agglomeration and dispersion forces that determine these patterns and to contrast them to forces acting elsewhere, in particular the US Our survey suggests that much has been achieved in the wave of empirical work that has occurred in the past decade, but that much work remains to be done
385 citations
••
TL;DR: In this article, the authors show that if contracts are incomplete then the ownership of a public good should lie with a party that values the benefits generated by it relatively more than the other parties.
Abstract: There has been a dramatic change in the division of responsibility between the state and the private sector for the delivery of public goods and services in recent years with an increasing trend toward contracting out to the private sector and “public-private partnerships.” This paper analyzes how ownership matters in public good provision. We show that if contracts are incomplete then the ownership of a public good should lie with a party that values the benefits generated by it relatively more. This is true regardless of whether this party is also the key investor, or other aspects of the technology.
385 citations
•
TL;DR: In this article, the authors argue that three key institutional factors are female labor market and gendered welfare state provisions, left-leaning political government coalitions, and path dependent policy initiatives for gender equality, both in the public realm as well as in the corporate domain.
Abstract: Ten countries have established quotas for female representation on publicly traded corporate and/or state-owned enterprise boards of directors, ranging from 33-50%, with various sanctions. Fifteen other countries have introduced non-binding gender quotas in their corporate governance codes enforcing a "comply or explain" principle. Countless other countries’ leaders and policy groups are in the process of debating, developing, and approving legislation around gender quotas in boards. Taken together, gender quota legislation significantly impacts the composition of boards of directors and thus the strategic direction of these publicly traded and state-owned enterprises. This article outlines an integrated model of three institutional factors that explain the establishment of board of directors gender quota legislation based on the premise that the country’s institutional environment co-evolves with gender corporate policies. We argue that these three key institutional factors are female labor market and gendered welfare state provisions, left-leaning political government coalitions, and path dependent policy initiatives for gender equality, both in the public realm as well as in the corporate domain. We discuss implications of our conceptual model and empirical findings for theory, practice, policy, and future research. These include the adoption and penalty design of board diversity practices into corporate practices, bottom-up approaches from firm to country-level gender board initiatives, hard versus soft regulation, the leading role of Norway and its isomorphic effects, the likelihood of engaging in decoupling, the role of business leaders, and the transnational and international reaction to board diversity initiatives.
385 citations
••
Abstract: This paper uses a rich panel dataset of Spanish manufacturing firms (1990-2006) and a propensity score reweighting estimator to show that multinational firms acquire the most productive domestic firms, which, on acquisition, conduct more product and process innovation (simultaneously adopting new machines and organizational practices) and adopt foreign technologies, leading to higher productivity. We propose a model of endogenous selection and innovation in heterogeneous firms that jointly explains the observed selection process and the innovation decisions. Further, we show in the data that innovation on acquisition is associated with the increased market scale provided by the parent firm.
384 citations
••
TL;DR: In this article, an analysis of insider trading patterns shows that low valuation (value) firms are regarded as undervalued by their own managers relative to high valuation (growth) firms, and that managers in value firms actively purchase additional equity on the open market despite substantial prior exposure to firm risk through stock and option holdings, equity-based compensation and firm-specific human capital.
Abstract: This paper provides evidence that top managers have contrarian views on firm value. Managers' perceptions of fundamental value diverge systematically from market valuations, and perceived mispricing seems an important determinant of managers' decision making. An analysis of insider trading patterns shows that low valuation (value) firms are regarded as undervalued by their own managers relative to high valuation (growth) firms. This finding is robust to controlling for non-information motivated trading. Managers in value firms actively purchase additional equity on the open market despite substantial prior exposure to firm risk through stock and option holdings, equity-based compensation and firm-specific human capital. Further evidence links managers' private portfolio decisions directly to changes in corporate capital structures, suggesting that managers actively time the market both in their private trades and in firm-wide decisions. Keywords: Market timing, Insider trading
384 citations
Authors
Showing all 9081 results
Name | H-index | Papers | Citations |
---|---|---|---|
Ichiro Kawachi | 149 | 1216 | 90282 |
Amartya Sen | 149 | 689 | 141907 |
Peter Hall | 132 | 1640 | 85019 |
Philippe Aghion | 122 | 507 | 73438 |
Robert West | 112 | 1061 | 53904 |
Keith Beven | 110 | 514 | 61705 |
Andrew Pickles | 109 | 436 | 55981 |
Zvi Griliches | 109 | 260 | 71954 |
Martin Knapp | 106 | 1067 | 48518 |
Stephen J. Wood | 105 | 700 | 39797 |
Jianqing Fan | 104 | 488 | 58039 |
Timothy Besley | 103 | 368 | 45988 |
Richard B. Freeman | 100 | 860 | 46932 |
Sonia Livingstone | 99 | 510 | 32667 |
John Van Reenen | 98 | 440 | 40128 |