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The new empirical economics of management

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  • Bloom, Nicholas
  • Sadun, Raffaella
  • Lemos, Renata
  • Scur, Daniela
  • Van Reenen, John

Abstract

Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across multiple sectors and countries. We developed the survey to try to explain the large and persistent TFP differences across firms and countries. This review paper discusses what has been learned empirically and theoretically from the WMS and other recent work on management practices. Our preliminary results suggest that about a quarter of cross-country and within-country TFP gaps can be accounted for by management practices. Management seems to matter both qualitatively and quantitatively. Competition, governance, human capital and informational frictions help account for the variation in management. We make some suggestions for both policy and future research.

Suggested Citation

  • Bloom, Nicholas & Sadun, Raffaella & Lemos, Renata & Scur, Daniela & Van Reenen, John, 2014. "The new empirical economics of management," LSE Research Online Documents on Economics 58009, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:58009
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    More about this item

    Keywords

    management; organization; productivity;
    All these keywords.

    JEL classification:

    • J1 - Labor and Demographic Economics - - Demographic Economics

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