Governance structure, technical change, and industry competition

Guerini M, Harting P, Napoletano M (2022)
Journal of Economic Dynamics and Control 135: 104294.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Autor*in
Guerini, Mattia; Harting, PhilippUniBi ; Napoletano, Mauro
Abstract / Bemerkung
We develop a model to study the impact of corporate governance on the investment de-cisions of firms and competition in an industry populated by publicly owned firms. A bar-gaining process between firm's stakeholders determines the optimal allocation of financial resources between real investments in R&D and financial investments in shares buybacks. We characterize the relation between governance and investment strategy and we study how different governance structures shape technical progress and competition over the industrial life cycle. Numerical simulations of a calibrated set-up of the model show that pooling together industries characterized by heterogeneous governance structures generate the well-documented inverted-U shaped relation between competition and innovation. (c) 2021 Elsevier B.V. All rights reserved.
Stichworte
Governance structure; Industry dynamics; Competition; Technical change
Erscheinungsjahr
2022
Zeitschriftentitel
Journal of Economic Dynamics and Control
Band
135
Art.-Nr.
104294
ISSN
0165-1889
eISSN
1879-1743
Page URI
https://pub.uni-bielefeld.de/record/2962436

Zitieren

Guerini M, Harting P, Napoletano M. Governance structure, technical change, and industry competition. Journal of Economic Dynamics and Control. 2022;135: 104294.
Guerini, M., Harting, P., & Napoletano, M. (2022). Governance structure, technical change, and industry competition. Journal of Economic Dynamics and Control, 135, 104294. https://doi.org/10.1016/j.jedc.2021.104294
Guerini, M., Harting, P., and Napoletano, M. (2022). Governance structure, technical change, and industry competition. Journal of Economic Dynamics and Control 135:104294.
Guerini, M., Harting, P., & Napoletano, M., 2022. Governance structure, technical change, and industry competition. Journal of Economic Dynamics and Control, 135: 104294.
M. Guerini, P. Harting, and M. Napoletano, “Governance structure, technical change, and industry competition”, Journal of Economic Dynamics and Control, vol. 135, 2022, : 104294.
Guerini, M., Harting, P., Napoletano, M.: Governance structure, technical change, and industry competition. Journal of Economic Dynamics and Control. 135, : 104294 (2022).
Guerini, Mattia, Harting, Philipp, and Napoletano, Mauro. “Governance structure, technical change, and industry competition”. Journal of Economic Dynamics and Control 135 (2022): 104294.

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