We examine how foreign ownership of a firm affects the variety of goods that the firm exports and the number of countries it trades with. We construct a simple theoretical model of how foreign ownership may affect these extensive margins of exports and take this model to data from Germany, one of the leading actors on the world market for goods. In line with theoretical predictions we find that...

In my dissertation, I examine how the corporate governance structure may affect the firm value in the market for control and affect strategic behavior of the firm. Particularly, I focus on founding family business firms which have been largely understudied in the management literature. In my first essay, I empirically examine how founder management affects takeover premiums in mergers and acqui...

This paper analyses market structure of industries that are subject to both positive and negative network effects. The size of a firm determines the quality of its product: when network effects are positive, a larger firm is of higher quality; when the effects are negative, a larger firm’s product is of lower quality. Consumers have heterogenous preferences towards quality (firm size), and firm...

Sutton (1998) has recently proposed a theoretical lower bound to firm size inequality when a market is made of several independent submarkets. His results are valid asymptotically, as the number of submarkets becomes arbitrarily large. We show that, in small samples, his results can be interpreted as a positive relationship between an index of firm size inequality and the number of submarkets. ...

We attempt to gain a better perspective on evolving firm-size in the past twenty years across industries by combining Brynjolfsson, Malone, Gurbaxani, and Kambil (1994, BMGK)’s empirical framework of measuring the effect of coordination cost reduction due to information technology (IT) investment, and Kumar, Rajan, and Zingales (2001)’s synopsis of theories of the firm. We find that although in...

when shareholders have agreement about divestiture of company’s share in stock exchange, they decide to change and improve their business ownership structure and the presence of a large shareholder to help divestiture. the present study was aimed to investigate the effect of presence of large shareholder to tends firm to divestiture by a new approach. for this purpose, the propensity score a sa...

The Pareto-like tail of the size distribution of firms can arise from random growth of productivity or stochastic accumulation of capital. If the shocks that give rise to firm growth are perfectly correlated within a firm, then the growth rates of small and large firms are equally volatile, contrary to what is found in the data. If firm growth is the result of many independent shocks within a f...