The study examines the effect of ownership structure on firm performance. We distinguish between family firms, firms controlled by partnerships of individuals, concern controlled firms, and firms where blockholders have less than 50% of the vote. The empirical work analyzes data on 280 Israeli firms and employs the technique of Data Envelopment Analysis. It is found that ownermanager firms are ...

Innovation management literature typically concerns functionally organized firms. In this paper we investigate innovation management in a different type of firm, the project-based firm. Project-based firms, such as engineering and construction companies, consultancies and system integrators, are service firms that solely execute projects for clients. We focus on new service development projects...

Serial innovators are long-lived, small firms with a substantial, public record of innovative success. This paper argues that such firms are often specialist suppliers of technology. We draw on Arora, Fosfuri and Gambardella's framework concerning markets for technology to explain the patenting characteristics of these firms. We find that the firms produce technology that in comparison to large...

This study provides evidence that the portfolio of products offered by a multiproduct firm affects consumer purchase decisions with respect to each of its products. We present a theory that explains this empirical regularity. The theory involves revising the information set of consumers to include the profile of multiproduct firms. We show that revising the information set in this way introduce...

Internet firms charge a wide range of prices for homogeneous products, and high-priced firms remain high-priced and low-priced firms remain low-priced over long periods. One explanation is that high-price firms are charging a premium for superior service. An alternative, price-dispersion explanation is that firms vary the prices for informed and uniformed consumers (Salop and Stiglitz, 1977) or...

We examine how the ownership, analyst coverage and stock market valuation of a sample of U.S. firms vary with their environmental performance. Both “green” and “toxic” firms have a larger number of shareholders but a smaller percentage of institutional owners and ownership stakes relative to environmentally neutral firms. Nonetheless, toxic firms have higher institutional ownership than green f...

Green investing, or socially responsible investing (SRI), which refers to making investment decisions according to both financial and ethical criteria, has become increasingly popular in recent years. This paper explores the effects of ethical screening on the investment decisions of firms that fail the screen (’polluting’ firms) and on their decisions to reform so as to pass the screen. The pa...

Sri Lanka’s Termination of Employment of Workmen Act (TEWA) requires that firms with 15 or more workers justify layoffs and provide generous severance pay to displaced workers, with smaller firms being exempted. Although formally subject to TEWA, firms in Export Promotion Zones (EPZs) do not face the same constraints as nonEPZ firms due to size incentives and lax labor law enforcement in that s...

The ability of foreign firms to bring in additional capital to a host country together with technological and skill spillovers may relieve domestic firms of their financial constraints. Yet, some foreign firms borrow more from the local capital markets than the amount of capital they bring in, worsening the financial constraints of the domestic firms. We use a panel of 182 Ghanaian manufacturin...