Publications

This paper argues that performance should be investigated as an independent variable. Using survey data of over 400 managers responsible for the main export ventures of Portuguese SMEs (small and medium exporters), this paper shows that…

Book Overview: The effectiveness of market discipline — the strong built-in incentives that encourage banks and financial systems to operate soundly and efficiently — commands much attention today, particularly in light of recent…

Entrepreneurship clusters in regions that have a favourable business environment or habitat. Some entrepreneurs succeed, against all odds, in less favourable habitats; however, these cases are not the norm and do not give rise to clusters of…

We develop a new approach to measuring changes in consumer welfare due to changes in the price of owner-occupied housing. In our approach, an agents welfare adjustment is defined as the transfer required to keep expected discounted utility…

Managers often engage in forecast updating with the expectation that forecast updating reduces expected shortage and inventory costs. One undesirable effect of forecast updating is that it may lead to the bullwhip effect, a phenomenon where the…

Which of the democratic checks and balances opposition parties, the judiciary, a free press is the most critical? Peru has the full set of democratic institutions. In the 1990s, the secret-police chief Montesinos systematically undermined them…

A manufacturer writes supply contracts with N buyers. Then, the buyers invest in innovation, and the manufacturer builds capacity. Finally, demand is realized, and the firms renegotiate the supply contracts to achieve an efficient allocation of…

After entering into supply contracts, firms often later renegotiate the terms of those contracts. For example, firms that obtain market demand information after signing supply contracts may benefit by renegotiating the contracts to allow buyers…

We confront the two opposing views of capital account liberalization in developing countries with a new firm-level dataset on investment, stock prices, and sales. In the three-year period following liberalizations, the growth rate of the typical…

The minority party is rarely featured in empirical research on parties in legislatures, and recent theories of parties in legislatures are rarely neutral and balanced in their treatment of the two parties. This paper makes a case for redressing…

We contend that two important, nonrelational, features of formal interorganizational networks—geographic propinquity and organizational form—fundamentally alter the flow of information through a network. Within regional economies, contractual…

This paper provides a large-deviations approximation of the tail distribution of total financial losses on a portfolio consisting of many positions. Applications include the total default losses on a bank portfolio, or the total claims…

While leaders need analytical competencies such as those associated with strategy, finance and all the planning processes, research on Emotional Intelligence (as reported by Goleman, “What Makes a Leader?”, HBR, 1998) suggests it is increasingly…

A framework is introduced for evaluating static micro-analytic theories in dynamic macro-political settings. Within the framework, two theories of lawmaking are compared. Analytically, the predictions of the theories are remarkably similar-…

Information integration efforts between manufacturers and retailers, in the form of information sharing, synchronized replenishment, and collaborative product design and development, have been cited as major means to improve supply chain…

To explore this provocative topic in depth, scholars and practitioners gathered at Harvard on March 11–12, 2004 for Misuses of Power: Causes and Corrections, sponsored by the Center for Public Leadership and the…

Today’s marketplace is characterized by turbulence and uncertainty. Market turbulence has tended to increase for a number of reasons. Demand in almost every industrial sector seems to be more volatile than was the case in the past. Product…

Using Monte Carlo simulations, this paper evaluates the bias properties of common estimators used in growth regressions derived from the Solow model. We explicitly allow for measurement error in the right-hand side variables, as well as country-…