Energy Efficiency and Firm Growth

Corporate Governance and Firm Efficiency:

This paper applies a two-stage, double bootstrapping data envelope analysis (DEA) approach to investigate whether and to what extent various distinctive corporate governance practices affect productive efficiency in a sample of 461 publicly listed manufacturing firms in China between 1999 and 2002. We find that firm efficiency is negatively related to state ownership while positively related to...

Firm Ownership and Economic Efficiency

JEL: D24, L33

Fairness and Efficiency: The Rotten Firm Theorem

When contracting is not possible, a preference for fair exchange can generate efficient exchange, fully exhausting the potential gains from trade — or no exchange at all, leaving all gains from trade unexploited. A profit-maximizing firm offers a wage to a fair-minded worker, who then chooses how much effort to exert. The Rotten Firm theorem says: if the worker cares sufficiently about fairness...

Efficiency Wages and Union-Firm Bargaining

In this paper we combine the efficiency wage and union-firm bargaining approaches to wage determination to produce a unified model that encapsulates both. We find that combining efficiency wages and union-firm bargaining leads to higher wages, confirming an original insight of Summers. We also find that increases in bargaining power and monopoly power on the goods market have a stronger impact ...

Target Firm-Specific Information and Acquisition Efficiency