Found 3 article(s) for author 'Raffaella Sadun'

Growth and Decentralization in Bad Times

Growth and Decentralization in Bad Times. Philippe Aghion, Raffaella Sadun, April 8, 2015, Paper. “Is decentralization beneficial to firm performance in “bad times”? We present a model where negative demand shocks increase the importance of rapid action, and improve the alignment of incentives of managers within firms. We test this idea exploiting the heterogeneous impact of the 2008-2009 Great Recession across industries and countries using firm-level cross-country panel data combined with our survey data on firm organization. Decentralized firms perform better than their centralized counterparts in terms of sales and TFP growth…” Link

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Never Waste a Good Crisis? Growth and Decentralization in the Great Recession

Never Waste a Good Crisis? Growth and Decentralization in the Great Recession. Philippe Aghion, Raffaella Sadun, October 20, 2014, Paper. “We argue that decentralization is particularly beneficial to firm performance in “bad times”. We present a model where bad times increase the importance of rapid action, and improve the alignment of incentives of managers within firms. We test this idea exploiting the 2008-2009 Great Recession using firm-level cross country panel data combined with our survey data on firm organization…” Link

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The New Empirical Economics of Management

The New Empirical Economics of Management. Raffaella Sadun, May 2014, Paper. “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.” Link

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