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Measuring and Explaining Management Practices Across Firms and Countries

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Author Info
Nicholas Bloom (Stanford, NBER, and Centre for Economic Performance)
John Van Reenen (London School of Economics, Centre for Economic Performance, NBER, and CEPR)

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Abstract

We use an innovative survey tool to collect management practice data from 732 medium-sized firms in the United States, France, Germany, and the United Kingdom. These measures of managerial practice are strongly associated with firm-level productivity, profitability, Tobin's Q, and survival rates. Management practices also display significant cross-country differences, with U.S. firms on average better managed than European firms, and significant within-country differences, with a long tail of extremely badly managed firms. We find that poor management practices are more prevalent when product market competition is weak and/or when family-owned firms pass management control down to the eldest sons (primogeniture). (c) 2007 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology..

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File URL: http://www.mitpressjournals.org/doi/pdfplus/10.1162/qjec.2007.122.4.1351
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Publisher Info
Article provided by MIT Press in its journal Quarterly Journal of Economics.

Volume (Year): 122 (2007)
Issue (Month): 4 (November)
Pages: 1351-1408
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Handle: RePEc:tpr:qjecon:v:122:y:2007:i:4:p:1351-1408

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  5. Nickell, Stephen J, 1996. "Competition and Corporate Performance," Journal of Political Economy, University of Chicago Press, vol. 104(4), pages 724-46, August. [Downloadable!] (restricted)
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  6. Marianne Bertrand & Sendhil Mullainathan, 2001. "Do People Mean What They Say? Implications for Subjective Survey Data," American Economic Review, American Economic Association, vol. 91(2), pages 67-72, May. [Downloadable!] (restricted)
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  8. Bertrand, Marianne & Schoar, Antoinette, 2003. "Managing With Style: The Effect of Managers on Firm Policies," Working papers 4280-02, Massachusetts Institute of Technology (MIT), Sloan School of Management. [Downloadable!]
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  9. Morten Bennedsen & Kasper Nielsen & Francisco Pérez-González & Daniel Wolfenzon, 2005. "Inside the Family Firm: The Role of Families in Succession Decisions and Performance," CIE Discussion Papers 2005-13, University of Copenhagen. Department of Economics. Centre for Industrial Economics, revised Sep 2005. [Downloadable!]
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  11. Marianne Bertrand & Sendhil Mullainathan, 2003. "Enjoying the Quiet Life? Corporate Governance and Managerial Preferences," Journal of Political Economy, University of Chicago Press, vol. 111(5), pages 1043-1075, October. [Downloadable!] (restricted)
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  1. Carol Corrado & Charles Hulten & Daniel Sichel, 2006. "Intangible capital and economic growth," Finance and Economics Discussion Series 2006-24, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  2. Joseph A. Clougherty & Anming Zhang, 2008. "Domestic Rivalry and Export Performances: Theory and Evidence from International Airline Markets," CIG Working Papers SP II 2008-12, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG). [Downloadable!]
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  3. Marin, Dalia & Verdier, Thierry, 2007. "Competing in Organizations: Firm Heterogeneity and International Trade," Discussion Papers in Economics 1933, University of Munich, Department of Economics. [Downloadable!]
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  4. Nicholas Bloom, 2007. "The Impact of Uncertainty Shocks," NBER Working Papers 13385, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  5. Bart van Ark & Charles R. Hulten, 2007. "Innovation, Intangibles and Economic Growth: Towards A Comprehensive Accounting of the Knowledge Economy," Economics Program Working Papers 07-02, The Conference Board, Economics Program. [Downloadable!]
  6. Holger Strulik & Volker Grossmann, 2008. "Should Continued Family Firms Face Lower Taxes than other Estates?," CESifo Working Paper Series CESifo Working Paper No. , CESifo GmbH. [Downloadable!]
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  7. Hochberg, Yael & Sapienza, Paola & Vissing-Jorgensen, Annette, 2007. "A Lobbying Approach to Evaluating the Sarbanes-Oxley Act of 2002," CEPR Discussion Papers 6201, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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  8. Sonja Fagernäs, 2006. "How do family ties, boards and regulation affect pay at the top? Evidence for Indian CEOs," ESRC Centre for Business Research - Working Papers wp335, ESRC Centre for Business Research. [Downloadable!]
  9. Bennedsen, Morten & Nielsen, Kasper & Pérez-González, Francisco & Wolfenzon, Daniel, 2005. "Inside the Family Firm," Working Papers 21-2005, Copenhagen Business School, Department of Economics. [Downloadable!]
  10. Heyman, Fredrik & Svaleryd, Helena & Vlachos, Jonas, 2008. "Competition, Takeovers and Gender Discrimination," Working Paper Series 734, Research Institute of Industrial Economics. [Downloadable!]
  11. Fox, Jeremy T. & Smeets, Valérie, 2007. "Do Input Quality and Structural Productivity Estimates Drive Measured Differences in Firm Productivity?," Working Papers 07-2, University of Aarhus, Aarhus School of Business, Department of Economics. [Downloadable!]
  12. Ann Bartel & Casey Ichniowski & Kathryn Shaw & Ricardo Correa, 2007. "International Differences in the Adoption and Impact of New Information Technologies and New HR Practices: The Valve-Making Industry in the U.S. and U.K," NBER Working Papers 13651, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  13. Francesco Caselli & Nicola Gennaioli, 2006. "Dynastic Management," CEP Discussion Papers dp0741, Centre for Economic Performance, LSE. [Downloadable!]
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  14. Stephen D. Oliner & Daniel E. Sichel. & Kevin J. Stiroh, 2007. "Explaining a productive decade," Finance and Economics Discussion Series 2007-63, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
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  15. Nicholas Bloom & Raffaella Sadun & John Van Reenen, 2007. "Americans Do I.T. Better: US Multinationals and the Productivity Miracle," NBER Working Papers 13085, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  16. Bas ter Weel, 2006. "Does Manager Turnover Improve Firm Performance? New Evidence Using Information from Dutch Soccer, 1986-2004," IZA Discussion Papers 2483, Institute for the Study of Labor (IZA). [Downloadable!]
  17. Morten Bennedsen & Kasper Nielsen & Francisco Pérez-González & Daniel Wolfenzon, 2005. "Inside the Family Firm: The Role of Families in Succession Decisions and Performance," CIE Discussion Papers 2005-13, University of Copenhagen. Department of Economics. Centre for Industrial Economics, revised Sep 2005. [Downloadable!]
  18. Ariel Burstein & Alexander Monge-Naranjo, 2007. "Foreign Know-How, Firm Control, and the Income of Developing Countries," NBER Working Papers 13073, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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