The Theory of the Firm goes Global
What insights can be gained from bringing the theory of the firm to the global economy? I discuss several new features of the world economy that can be explained by incorporating the theory of the firm into the theory of international trade. Among the new features I discuss are the move to flatter corporate hierarchies and the decentralization of authority in firms, the â€œwar for talentâ€, the rise of CEO pay in rich countries, organizational convergence across countries, and firm heterogeneity.
|Date of creation:||Jan 2012|
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