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on Business Economics |
| By: | Ernesto Nieto Carrillo (Ph.D. Student at Faculty of Economics, University of Coimbra); Carlos Carreira (University of Coimbra, Centre for Business and Economics Research, CeBER and Faculty of Economics); Paulino Maria Freitas Teixeira (University of Coimbra, Centre for Business and Economics Research, CeBER and Faculty of Economics) |
| Abstract: | In most advanced economies productivity growth has been hampered by barriers that allow zombie firms to survive. We examine the effectiveness of institutional reforms in Portugal that were aimed to improve efficiency in insolvency framework. Estimates show that reallocation barriers declined. The reforms appear to have larger and more effective results in zombie recovery than in exit. Firm size plays a major role in tackling zombie-entrenchment. The decline in barriers has also implied a lower distortion in the economy-wide selection process. The new setting seems to be more desirable than forcing zombie exit at all costs. |
| Keywords: | Insolvency regimes; Zombie firms; Productivity; Reallocation barriers; Firm exit;Restructuring. |
| JEL: | D24 G32 G33 K22 L25 O47 |
| Date: | 2022–01 |
| URL: | http://d.repec.org/n?u=RePEc:gmf:papers:2022-02&r= |
| By: | Kajsa Ahlgren Ode (Lund University [Lund]); Céline Louche (Audencia Business School) |
| Abstract: | This study examines business model innovation (BMI) in an established firm. We investigate the case of a Swedish utility company that adopted and implemented a business model (BM) pattern originating from outside the firm. We draw upon Scandinavian translation theory to understand the micro-level dynamics of how BMI unfolds. Our findings show that the BM pattern is disassembled into its constituent parts, that these are translated separately and, little by little, (re)assembled into a whole to form a new BM. This process involves several loops of translation activated by the interplay between five practices: formulating, engaging, resisting, anchoring, and energizing. On the basis of our findings, we develop a BM translation framework. We thereby contribute to a better understanding of the micro-level perspective on BMI initiated by the adoption of a BM pattern. We also reveal that BMI processes triggered by BM patterns from outside differ from those taking place when a new BM is entirely developed within a firm. |
| Keywords: | business model innovation,business model pattern,Scandinavian translation theory,change process |
| Date: | 2022–04–01 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03633349&r= |
| By: | Sangeun Ha (The Hong Kong University of Science and Technology); Fangyuan Ma (Peking University HSBC Business School); Alminas Žaldokas (The Hong Kong University of Science and Technology) |
| Abstract: | We examine how executive compensation can be designed to motivate product market collusion. We look at the 2013 decision to close several regional offices of the Department of Justice, which lowered antitrust enforcement for firms located near these closed offices. We argue that this made collusion more appealing to the shareholders, and find that these firms increased the sensitivity of executive pay to local rivals' performance, consistent with rewarding the managers for colluding with them. The affected CEOs were also granted more equity compensation, which provides long-term incentives that could foster collusive arrangements. |
| Keywords: | Product Market Collusion; Corporate Governance; Managerial Compensation |
| JEL: | G34 G38 L22 |
| Date: | 2021–07 |
| URL: | http://d.repec.org/n?u=RePEc:hke:wpaper:wp2021-08&r= |
| By: | Mohamad Hassan Shahrour (UGA - Université Grenoble Alpes, CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes); Isabelle Girerd-Potin (CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes); Ollivier Taramasco (CERAG - Centre d'études et de recherches appliquées à la gestion - UGA - Université Grenoble Alpes) |
| Date: | 2021–02–08 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03198467&r= |