dunnettreader + business   30

Ron Harris - (pdf) The Institutional Dynamics of Early Modern Eurasian Trade: The Commenda and the Corporation
The focus of this article is on legal-economic institutions that organized early- modern Eurasian trade. It identifies two such institutions that had divergent dispersion patterns, the corporation and the commenda. The corporation ended up as a uniquely European institution that did not migrate until the era of European colonization. The commenda that originated in Arabia migrated all the way to Western Europe and to China. The article explains their divergent dispersion based on differences in their institutional and geographical environments and on dynamic factors. It claims that institutional analysis errs when it ignores migration of institutions. It provides building blocks for the modeling of institutional migration. -- via Dick Langlois at organizationsandmarkets.com presented at Nov 2014 conference put together by Business History program at Harvard Business School, on the History of Law and Business Enterprise -- downloaded to iPhone
paper  downloaded  economic_history  institutional_economics  legal_history  medieval_history  firms-structure  firms-theory  trade  colonialism  Europe-Early_Modern  China  India  MENA  Islamic_law  business_practices  risk_management  economic_culture  cultural_influence  trade-cultural_transmission  corporate_law  business_history  comparative_economics  Eurasia  business  organizations 
january 2015 by dunnettreader
Geoffrey Jones (HBS Working Papers 2013) - Debating the Responsibility of Capitalism in Historical and Global Perspective
This working paper examines the evolution of concepts of the responsibility of business in a historical and global perspective. It shows that from the nineteenth century American, European, Japanese, Indian and other business leaders discussed the responsibilities of business beyond making profits, although until recently such views have not been mainstream. There was also a wide variation concerning the nature of this responsibility. This paper argues that four factors drove such beliefs: spirituality; self-interest; fears of government intervention; and the belief that governments were incapable of addressing major social issues.

Keywords: Rachel Carson; Sustainability; Local Food; Operations Management; Supply Chain; Business And Society; Business Ethics; Business History; Corporate Philanthropy; Corporate Social Responsibility; Corporate Social Responsibility And Impact; Environmentalism; Environmental Entrepreneurship; Environmental And Social Sustainability; Ethics; Globalization; History; Religion; Consumer Products Industry; Chemical Industry; Beauty and Cosmetics Industry; Energy Industry; Food and Beverage Industry; Forest Products Industry; Green Technology Industry; Manufacturing Industry; Asia; Europe; Latin America; Middle East; North and Central America; Africa
paper  downloaded  economic_history  business_history  imperialism  US  British_Empire  France  Germany  Japan  Spain  Dutch  Latin_America  Ottoman_Empire  India  18thC  19thC  20thC  corporate_citizenship  corporate_governance  business  busisness-ethics  business-and-politics  common_good  communitarian  environment  labor  patriarchy  paternalism  labor_standards  regulation  product_safety  inequality  comparative_economics  capital_as_power  capitalism  CSR  political_economy  economic_culture  economic_sociology  self-interest  ideology 
january 2015 by dunnettreader
Eric Rauchway, review - Martin Wolf, The Shifts and the Shocks (2014) | TLS Jan 2015
... his analysis, which holds that we knew how to avoid, counter and cure these troubles; we have simply – largely out of wilful ignorance and lack of courage – failed to do more than the barest minimum of what was necessary. Governments, banks and international institutions did “just enough, almost too late” to prevent the worst possible result, which would have been a note-for-note replay of the 1930s including a slide into fascism and world war. But having done no more than avoid world-historic catastrophe, we find ourselves mired in a dim morass of our own making, with no sunlit uplands in sight. Wolf offers a persuasive account that is also clear, though he relies on no single factor but several: hence the title of the book. It took both long-term shifts and a series of shocks to cause a crisis of such magnitude. Our world was born in the end of the Cold War. With capitalism triumphant, the victors liberalized their economies and so did the Communist nations, particularly China. Yet all was not well in this brave new world; international finance and trade threatened the stability of smaller, emerging economies, as the crises of the 1990s demonstrated.
financialization  bad_history  shadow  banking  Pocket  risk  global  economy  money  markets  global_imbalance  keynesian  business_influence  bad_economics  books  financial_regulation  liquidity  deregulation  minsky  investment  economic_growth  reviews  fed  Bank_of_England  great_recession  us_politics  leverage  capital_flows  race-to-the-bottom  business  ethics  political_economy  ecb  rents  uk  central_banks  investors  financial  crisis  financial_system  austerity  capital  economic_theory  us_economy  eurozone 
january 2015 by dunnettreader
theAIRnet.org - Home
The Academic-Industry Research Network – theAIRnet – is a private, 501(c)(3) not-for-profit research organization devoted to the proposition that a sound understanding of the dynamics of industrial development requires collaboration between academic scholars and industry experts. We engage in up-to-date, in-depth, and incisive research and commentary on issues related to industrial innovation and economic development. Our goal is to understand the ways in which, through innovation, businesses and governments can contribute to equitable and stable economic growth – or what we call “sustainable prosperity”.
website  economic_growth  industry  technology  Innovation  green_economy  development  business  business-and-politics  capitalism  global_economy  public-private_partnerships  public_policy  public_health  public_goods  urban_development  health_care  IP  Labor_markets  wages  unemployment  education-training  sustainability  financial_system  corporate_citizenship  corporate_governance  corporate_finance  CSR  firms-theory  management  plutocracy  MNCs  international_political_economy  human_capital  OECD_economies  emerging_markets  supply_chains  R&D  common_good  1-percent  inequality  working_class  work-life_balance  workforce  regulation  regulation-harmonization  incentives  stagnation 
september 2014 by dunnettreader
Steve Denning - The Copernican Revolution In Management - Forbes - July 2013
Today’s hierarchical bureaucracies are so out-of-step with the current marketplace in which power has shifted from seller to buyer that we cannot wait for the results of definitive long-term scientific studies. As Don Tapscott said in this column last week, “The fundamental problem facing all our institutions today, including government, is not related to conjunctural economic changes. It’s not a business cycle that we are going through. It’s not a cyclical change. It’s a secular change. We are at a punctuation point in human history where the industrial age and institutions have finally come to their logical conclusion. They have essentially run out of gas.” The shareholder value theory is thus only a small part of the problem. It is part of a web of obsolete management ideas that no longer fit the 21st Century marketplace. As noted below, other once-sacred truths in management are part of the same failing paradigm. Absorbing even a couple of these fundamental shifts will take time. Absorbing them all, and acquiring the skills and attitudes necessary to implement them, will not be easy or quick. -- large number of links to recent articles, papers etc
globalization  global_economy  business  management  corporate_governance  technology  networks-business  hierarchy  shareholder_value  capital_markets  investors  financialization  Labor_markets  Innovation  capitalism  executive_compensation  1-percent  inequality  links 
august 2014 by dunnettreader
The Reshoring Initiative Blog: The Reshoring Initiative's Recommendations for the Federal Government
The economic bleeding due to increasing offshoring has stopped. The rate of new reshoring is now equal to the rate of new offshoring. The challenge is now to reshore the 3 to 4 million manufacturing jobs that are still offshored. Recent reshoring announcements and successes by Apple, Caterpillar and GE and analysis of the economics of reshoring suggest that we could raise the net reshoring rate from the current zero jobs/year to 50,000. For the U.S. to achieve its full reshoring potential requires a continuation of offshore cost trends, improvement in U.S. competitiveness and changes in companies’ sourcing decision metrics. The U.S. government can influence all of these factors with minimal expenditure -- most recommendations for Dept of Commerce, especially integrating their reshoring tools and materials in their programs - also some Dept of Education extending encouragement of community college training initiatives - extend use of tool for calculating full costs of off-shoring as e.g. condition of federal contracts -- big issue currency manipulation by e.g. China at end of list is different in kind from the sorts of reorientation or extension of government programs or public-private_partnerships
US_government  US_economy  manufacturing  Labor_markets  exports  off-shoring  business  SMEs  unemployment 
august 2014 by dunnettreader
About MEP
The National Institute of Standards and Technology’s Hollings Manufacturing Extension Partnership (MEP) works with small and medium-sized manufacturers to help them create and retain jobs, increase profits, and save time and money. The nationwide network provides a variety of services, from innovation strategies to process improvements to green manufacturing. MEP also works with partners at the state and federal levels on programs that put manufacturers in position to develop new customers, expand into new markets and create new products. As a program of the Dept of Commerce, MEP is a nationwide network of more than 1,200 technical experts, - located in every state - serving as trusted business advisors, focused on transforming U.S. manufacturers to compete globally, support supply chain integration, and provide access to technology for improved productivity. MEP is built around manufacturing extension centers locally positioned throughout 50 states and Puerto Rico. MEP Centers are a diverse network of state, university-based, and non-profit organizations, offering products and services that address the critical needs of their local manufacturers. Each center works directly with area manufacturers to provide expertise and services tailored to their most critical needs, ranging from process improvement and workforce development to business practices and technology transfer. Additionally centers connect manufacturers with government and trade associations, universities and research laboratories, and a host of other public and private resources to help them realize individual goals.
US_government  business  SMEs  Innovation  exports  technical_assistance  productivity  manufacturing  technology_transfer  public-private_partnerships  nonprofit  supply_chains  education-training 
august 2014 by dunnettreader
The Reshoring Initiative: Total Cost of Ownership Estimator Tool
The Total Cost of Ownership Estimator is a complimentary tool that enables aggregation of all cost and risk factors into one cost for simpler, more objective decision making. Most companies make sourcing decisions based on price alone, resulting in a 20 to 30 percent miscalculation of actual offshoring costs. With the Total Cost of Ownership Estimator, users account for all relevant factors when determining their total cost of ownership including overhead, balance sheet, corporate strategy and other external and internal business costs. Once your unique data is input into the calculator, you will receive your total cost of ownership analysis complete with: ** Calculations of each source’s cost ** An accumulation of all costs into cost categories. ** A grand total cost. ** Line charts showing each source’s current price, total cost of ownership and 5-year forecast. ** Line charts showing your cumulative cost by category
globalization  global_economy  business  off-shoring  prices  labor  management  profit 
august 2014 by dunnettreader
Steve Denning - From CEO 'Takers' To CEO 'Makers': The Great Transformation - Forbes - August 2014
CEOs, through the pervasive use of share buybacks, have become takers, not makers. Instead of creating value for their organizations and society, they are extracting value. Pervasive share buybacks are an economic, social and moral disaster: they contribute to loss of shareholder value, crippled capacity to innovate, runaway executive compensation, destruction of jobs, rapidly increasing inequality and sustained economic stagnation. Yet share buybacks have become “an unhealthy corporate obsession,” even “an addiction.” The situation is one of fundamental institutional failure. CEOs are extracting value from their firms. Business schools are teaching them how to do it. Institutional shareholders are complicit in what the CEOs are doing. Regulators pursue individuals but remain indifferent to systemic failure. Rating agencies reward malfeasance. Analysts applaud short-term gains and ignore obvious long-term rot. Politicians stand by and watch. In a great betrayal, the very leaders who should be fixing the system are complicit in its continuance. Unless our society reverses course, it is heading for a cataclysm. The solution to fundamental institutional failure goes beyond passing a few regulations or changing the behavior of a few CEOs. It involves changes in behavior in a whole set of institutions and actors: -- Change won’t happen merely by pointing out that shareholder primacy is a bad idea. Bad ideas don’t die just because they are bad. They hang around until a consensus forms around another idea that is better. Fortunately, a consensus is emerging around a better idea. The idea isn’t new. It’s Peter Drucker’s foundational insight of 1973: the only valid purpose of a firm is to create a customer. It’s through providing value to customers that firms justify their existence. Profits and share price increases are the result, not the goal of a firm’s activities
business  busisness-ethics  norms-business  corporate_governance  corporate_finance  investment  investors  management  financialization  finance_capital  capital_markets  inequality  1-percent  Drucker_Peter  Friedman_Milton  shareholder_value  profit 
august 2014 by dunnettreader
Whatever Happened to Corporate Stewardship? - Rick Wartzman - Harvard Business Review
Rick Wartzman is the executive director of the Drucker Institute at Claremont Graduate University. Author or editor of five books, he is currently writing one about how the social contract between employer and employee in America has changed since the end of World War II -- In November 1956, Time magazine explored a phenomenon that went by various names: “capitalism with a conscience,” “enlightened conservatism,” “people’s capitalism,” and, most popularly, “The New Conservatism.” No matter which label one preferred, the basic concept was clear: Business leaders were demonstrating an ever increasing willingness, in the words of the story, to “shoulder a host of new responsibilities” and “judge their actions, not only from the standpoint of profit and loss” in their financial results “but of profit and loss to the community.” -- It is easy to overly romanticize 1950s corporate America. People of color faced terrible workplace discrimination at that time, as did women. Late in the decade, many big companies hardened their stance against organized labor, hastening its steep decline. Business culture could be rigid and stifling. Fear of communism and socialism, as much as altruism, was often at the root of corporate generosity. But for all the faults of that period, an ethos has been lost. The University of Michigan’s Mark Mizruchi, in his book The Fracturing of the American Corporate Elite, describes it as “concern for the well-being of the broader society.” Notably, Mizruchi points to the 1956 Time article as a good representative of the ideas that then “dominated in the corporate discourse.”
CSR  corporate_governance  corporate_citizenship  shareholders  elites  elite_culture  labor  labor_history  post-WWII  neoliberalism  unions  US_history  US_economy  norms-business  business_cycles  business  business-and-politics  firms-theory  tax_havens 
august 2014 by dunnettreader
Corey Robin - The Republican War on Workers' Rights - NYTimes.com - May 2014
In 2010, the Republicans won control of the executive and legislative branches in 11 states (there are now more than 20 such states). Inspired by business groups like the American Legislative Exchange Council (ALEC), the U.S. Chamber of Commerce and the National Association of Manufacturers, they proceeded to rewrite the rules of work, passing legislation designed to enhance the position of employers at the expense of employees. The University of Oregon political scientist Gordon Lafer, who wrote an eye-opening report on this topic last October for the Economic Policy Institute, a liberal think tank in Washington, looked at dozens of bills affecting workers. The legislation involved unemployment insurance, the minimum wage, child labor, collective bargaining, sick days, even meal breaks. Despite frequent Republican claims to be defending local customs and individual liberty, Mr. Lafer found a “cookie-cutter” pattern to their legislation. Not only did it consistently favor employers over workers, it also tilted toward big government over local government. And it often abridged the economic rights of individuals.
US_politics  political_economy  GOP  state_government  business  business-and-politics  labor  wages  civil_liberties  inequality  power 
may 2014 by dunnettreader
Elisabet Garriga and Domènec Melé - Corporate Social Responsibility Theories: Mapping the Territory | JSTOR: Journal of Business Ethics, Vol. 53, No. 1/2 (Aug., 2004), pp. 51-71
The Corporate Social Responsibility (CSR) field presents not only a landscape of theories but also a proliferation of approaches, which are controversial, complex and unclear. This article tries to clarify the situation, "mapping the territory" by classifying the main CSR theories and related approaches in four groups: (1) instrumental theories, in which the corporation is seen as only an instrument for wealth creation, and its social activities are only a means to achieve economic results; (2) political theories, which concern themselves with the power of corporations in society and a responsible use of this power in the political arena; (3) integrative theories, in which the corporation is focused on the satisfaction of social demands; and (4) ethical theories, based on ethical responsibilities of corporations to society. In practice, each CSR theory presents four dimensions related to profits, political performance, social demands and ethical values. The findings suggest the necessity to develop a new theory on the business and society relationship, which should integrate these four dimensions. -- see bibliography on jstor information page -- didn't download -- cited by more than 40 on jstor
article  jstor  social_theory  business  business-and-politics  CSR  corporate_governance  capitalism  ethics  busisness-ethics  externalities  profit  civil_society  lit_survey  bibliography  EF-add 
february 2014 by dunnettreader
Dirk Matten and Andrew Crane - Corporate Citizenship: Toward an Extended Theoretical Conceptualization | JSTOR: The Academy of Management Review, Vol. 30, No. 1 (Jan., 2005), pp. 166-179
We critically examine the content of contemporary understandings of corporate citizenship and locate them within the extant body of research dealing with business-society relations. Our main purpose is to realize a theoretically informed definition of corporate citizenship that is descriptively robust and conceptually distinct from existing concepts in the literature. Specifically, our extended perspective exposes the element of "citizenship" and conceptualizes corporate citizenship as the administration of a bundle of individual citizenship rights--social, civil, and political--conventionally granted and protected by governments. -- cited by more than 35 in jstor -- didn't download
article  jstor  political_philosophy  political_economy  liberalism  markets  nation-state  civil_society  business  business-and-politics  corporate_citizenship  CSR  civil_liberties  privatization  legal_system  international_political_economy  globalization  EF-add 
february 2014 by dunnettreader
Andrew Crane and Dirk Matten - Corporate Citizenship: Missing the Point or Missing the Boat? A Reply to van Oosterhout | JSTOR: The Academy of Management Review, Vol. 30, No. 4 (Oct., 2005), pp. 681-684
Short follow up to earlier article challenging mushy use of CC relative to CSR. This piece clarifies what they were tackling in the article and areas where the concept needs to be expanded to deal with what's happening. A decade later after Citizens United etc their distinction from CSR and expansion to deal with blurred boundaries between state, civil society, business, politics, citizen rights and responsibilities is even more appropriate. -- didn't download
article  jstor  political_philosophy  political_economy  nation-state  civil_society  business  business-and-politics  corporate_citizenship  CSR  civil_liberties  privatization  EF-add 
february 2014 by dunnettreader
Why free markets die: An evolutionary perspective - Eduardo Viegas, Stuart P. Cockburn, Henrik Jeldtoft Jensen, Geoffrey B. West -Jan 2014
Why free markets die: An evolutionary perspective -- Eduardo Viegas, Stuart P. Cockburn, Henrik Jeldtoft Jensen, Geoffrey B. West (Submitted on 21 Jan 2014) -- downloaded pdf to Note -- Company mergers and acquisitions are often perceived to act as catalysts for corporate growth in free markets systems: it is conventional wisdom that those activities lead to better and more efficient markets. However, the broad adoption of this perception into corporate strategy is prone to result in a less diverse and more unstable environment, dominated by either very large or very small niche entities. We show here that ancestry, i.e. the cumulative history of mergers, is the key characteristic that encapsulates the diverse range of drivers behind mergers and acquisitions, across a range of industries and geographies. A long-term growth analysis reveals that entities which have been party to fewer mergers tend to grow faster than more highly acquisitive businesses.
paper  arxiv  business  firms-theory  M&A  corporate_finance  corporate_governance  downloaded  EF-add 
january 2014 by dunnettreader
Daniel Little Why the corporation? « Understanding Society Sept 2012
Recently I posted about C. Wright Mills and his analysis of power elites in America (post). A major theme in Mills’s book is the new power associated with the American corporation following World War II. Charles Perrow’s Organizing America: Wealth, Power, and the Origins of Corporate Capitalism (2002) offers an historical account of how this system of power came into being. Perrow is a historical sociologist, and he focuses his analysis on the structural features of the organizations he considers; the historical and social factors that favored the emergence of these kinds of organizations; and the role that they now play within the complex social and political system of modern America.
books  kindle-available  reviews  economic_history  social_history  US_economy  US_politics  US_history  19thC  20thC  business  corporate_governance  corporate_finance  capitalism  capital  firms-theory  organizations  profit  infrastructure  historical_sociology  political_economy  EF-add 
november 2013 by dunnettreader
G. William Domhoff - Power at the Local Level: Growth Coalition Theory | Who Rules America
Theory of local "growth coalitions" and history of urban policy and public administration institutions growing out of Good Government battles against Democratic Party machines and Socialists. Rockefeller Foundation and University of Chicago building nationwide urban policy network of thinktanks through Progressive and New Deal era. Electoral and managerial "reforms" (off yr & nonpartisan elections, citywide councils w/ no or minimal pay), city managers) that defanged threats from immigrant, Negro & Socialist politicians, foreclosed working class participation in governing bodies etc.

The idea that the heart of a local power structure is provided by those businesses concerned with local real estate values explains what had been considered a perplexing issue in what was once called the "community power literature:" the relative absence of industrial executives as top leaders within the city..... manufacturers usually are not concerned with land values unless they are also big landowners as well. Their focus is on making profits through the sale of products in regional, national, and international markets. For an industrialist, any given locality is merely a site for production that can be abandoned with a fair amount of ease if it becomes too costly, .... Their power is not in their involvement in local government but in their ability to move, which ... creates an underlying tension between the two sets of interests.

Since a great many specific government decisions can affect land values and growth potentialities, leaders of the growth coalition are prime participants in local government. Their involvement is even greater than that of corporate capitalists at the national level, where the power elite can rely to some extent on such "signals" as stock prices, interest rates, and the level of new investments to tell government officials what they think of current policies.

Due to the separation of local, state, and national government in the United States, the wily members of the local growth coalition are able to have it both ways. At the state and national levels they support those politicians who oppose, in the name of fiscal and monetary responsibility, the kinds of government policies that might create more jobs, whereas at the local level they talk in terms of their attempts to create more jobs. Their goal is never profits, but only jobs.
19thC  20thC  US_history  urban  urbanization  political_history  political_press  politics-and-money  urban_politics  US_economy  US_politics  political_economy  political_culture  local_government  business  elites  networks  investment  profit  property  Labor_markets  conservatism  lobbying  landowners  economic_growth  off-shoring  urban_development  suburbs  parties  elections  Great_Depression  US_politics-race  EF-add 
november 2013 by dunnettreader
G. William Domhoff - Interlocking Directorates in the Corporate Community (updated October 2013) | Who Rules America
Describes concepts and research methods for identifying interlocking governance and ownership relations in the corporate community -- used in the new study (separate bookmark) - Interlocks and Interactions Among the Power Elite: The Corporate Community, Think Tanks, Policy-Discussion Groups, and Government by G. William Domhoff, Clifford Staples, & Adam Schneider - August 2013
US_economy  global_economy  business  corporate_governance  power  elites  public_policy  networks  1-percent  NGOs  nonprofit  databases  methodology  social_capital  EF-add 
november 2013 by dunnettreader
G. William Domhoff, Clifford Staples, & Adam Schneider: Interlocks and Interactions Among the Power Elite | Who Rules America August 2013
Interlocks and Interactions Among the Power Elite: The Corporate Community, Think Tanks, Policy-Discussion Groups, and Government
by G. William Domhoff, Clifford Staples, & Adam Schneider

This document presents new findings about the American power structure based on the connections among 2,563 corporations, 6 business leadership and policy-discussion groups, 33 prominent think tanks, 82 major foundations, 47 private universities with large endowments, and 19 White House advisory committees for the years 2011-2012. In all, the database used for our study contains 2,750 separate organizations and 9,121 individuals.

It may be the largest and most extensive data set ever assembled for the United States that includes for-profit, nonprofit, and governmental organizations. 35.2% of the individuals in our database have connections to at least two of the organizations in the database.
US_politics  US_economy  US_government  power  elites  political_culture  public_policy  NGOs  university  nonprofit  business  lobbying  corporate_governance  capitalism  classes  networks  inequality  1-percent  databases  EF-add 
november 2013 by dunnettreader
Ann Marie Wiersch and Scott Shane - Cleveland Fed - Why Small Business Lending Isn’t What It Used to Be | The Big Picture Oct 2013
It’s Not All about the Financial Crisis and the Great Recession

Recent declines in small business lending also reflect longer-term trends in financial markets. Banks have been exiting the small business loan market for over a decade. This realignment has led to a decline in the share of small business loans in banks’ portfolios. As figure 2 shows, the fraction of nonfarm, nonresidential loans of less than $1 million—a common proxy for small business lending—has declined steadily since 1998, dropping from 51 percent to 29 percent.

The 15-year-long consolidation of the banking industry has reduced the number of small banks, which are more likely to lend to small businesses. Moreover, increased competition in the banking sector has led bankers to move toward bigger, more profitable, loans. That has meant a decline in small business loans, which are less profitable (because they are banker-time intensive, are more difficult to automate, have higher costs to underwrite and service, and are more difficult to securitize).
US_economy  Great_Recession  banking  business  financial_regulation  EF-add 
october 2013 by dunnettreader
Stumbling and Mumbling: Managerialism & the culture war - Chris Dillow - Oct 2013
Commenting on Collini in LRB re UK universities

What he's driving at here is a conflict between two cultures, between what Alasdair MacIntyre called the goods of excellence and those of effectiveness. The former are goods which are internal to a particular practice, such as mastery of a craft or vocation, or great scholarship - goods which can only be conferred by other practitioners. The latter are money, wealth and fame - external goods which are conferred by outsiders. Managerialism is the attempt to supplant the former with the latter.
education  humanities  managerialism  culture_wars  business  EF-add 
october 2013 by dunnettreader
Italian business: No way back (from crony capitalism) | FT.com August 2013
Northern Italy "friends and family" system of interlocking cross-holdings and outsized influence is being unwound as the ongoing crisis threatens contagion via ownership webs. Some guys fired, some unwinding like Fiat (except for its media holdings eg Corriere della Sera), and now some arrests. Will Italy adopt French model (protecting national priorities) or British (free market with governance norms) or Wild West by default? Or what's not listed as an option, reconfiguring the old game of insider power, just now with a new cast of characters.
Italy  business  corporate_governance  corruption  plutocracy  competition  crony_capitalism 
august 2013 by dunnettreader
Gibbons, R. and Roberts, J., eds.: The Handbook of Organizational Economics. | Princeton University Press
Downloaded Introduction - pdf to Note -- In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. This landmark book assembles the leading figures in organizational economics to present the first comprehensive view of both the current state of research in this fast-emerging field and where it might be headed.The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.
books  firms-theory  business  corporate_governance  economic_models  downloaded  EF-add 
august 2013 by dunnettreader
Estates of Mind - Antitrust and patent policy has reversed FDR's competition policies Barry C. Lynn | The Washington Monthly July 2013
Nice history of the FDR antitrust approach that focused on technology monopolies and the post Reagan reversal of antitrust and patent policy that had enforced technological competition and new entrants. Alfred Chandler last work c 2000 goes into the impact of forcing eg Bell Labs to license their technology at a low price. In a return to pre New Deal industrial structure, tge Monsantos, big Pharma and Googles are acquiring small ventures and competitors to lock in monopoly positions and keep innovation in house, where it will be developed only if it doesn't disturb business model. GE under Welch in 1st decade after Reagan closed down antitrust is a great cautionary tale. Attacks Mandel for claiming US corporations have to be giants to have staying power in global arena (the Schumpter monopoly justification). Also thinks Cowen's Great Stagnation is symptom of screwed up intellectual property system, not cause of decline in investment opportunity and economic growth. And our trade treaties are seriously messed up, reversing the logic of the US building and maintaining an international commons.
US_economy  economic_history  20thC  competition  technology  intellectual_property  political_economy  Schumpter  business  firms-theory  economic_growth  international_political_economy  EF-add 
august 2013 by dunnettreader
Alberto Rinaldi & Andrea Colli: Italian Institutions, Politics and the Corporate Economy | Dipartimento di Economia Politica
Over the century and a half since its unification, Italy caught up with the most advanced economies. Such a result was achieved in the presence of an industrial structure which is in many respects unique in international perspective and characterized by a dominance of small firms and a marginal role of large firms. In the last twenty years, however, this pattern seems to have come to a halt. In this paper we explore the determinants of such a dynamic in the long run. The focus will be on the role played by institutions in forging an array of industrial policies in place over the last 150 years which determined the process of convergence and, more recently, of divergence in big business, and the outstanding, constant presence of a small business sector far beyond the average of the most advanced countries among which Italy is still considered to be.

Downloaded pdf to Note
institutional_economics  economic_history  Italy  19thC  20thC  business  political_economy  downloaded  EF-add 
august 2013 by dunnettreader
Peter Radford: Some thoughts on economics | Real-World Economics Review Blog August 2013
Tracks history from interwar years of neoclassical theory not able to deal with theory of the firm - Coase, Williamson, asymetrique information, etc

Radford approach focuses on information (primary - order and efficiency vs secondary - ad hoc, creative) within an energy-entropy framework

Robert Locke comment - see Nietzsche’s Appolonian vs Dionysian
economic_history  20thC  economic_models  neoclassical_economics  business  firms-theory  EF-add 
august 2013 by dunnettreader
Evgenii Sigal: Doing Business In Russia Isn't About To Get Any Easier | KOMMERSANT/Worldcrunch June 2013
Earlier in June, during the last congress of the All-Russia People’s Front, a movement created by President Vladimir Putin in 2011, Putin announced that one of his primary goals was to create a new era of industrialization in Russia.

Russia's Minister of Economic Development Andrey Belousov announced in the same meeting that by the end of 2013, Russia could rise from 112th place to 50th place in the World Bank’s ranking of best country in the world to do business. Of course, his announcement was filled with qualifiers: it will be possible only if all of the planned measures meant to improve the investment environment are actually carried out.

Russia is a big country with a lot of regional differences – while most rating systems base their grades on the business environment in the capital. But among Russian cities, Moscow rates dead last for business-friendliness. In fact, smaller cities in Russia are much friendlier to business and score much higher on metrics like how easy it is to start a business or obtain a building permit. Regional authorities explain their success by saying that unlike Moscow, where there are numerous major corporations, the only chance they have at economic development is to really improve the investment environment. 
economic_growth  development  business  Russia  Russian_economy 
july 2013 by dunnettreader
Making a Case for Transparent Corporate Accounting Information | Berkeley-Haas
A new study by accounting professor Yaniv Konchitchki finds greater transparency in firms’ earnings has a positive effect on the bottom line.

The researchers studied a sample of publicly traded U.S. companies over a 27-year period.  They tested their hypothesis that transparency affects a firm’s value by modeling how the cost of capital changes dependent on the lack or abundance of information.  They considered “transparency” on a range from zero percent to 100 percent whereas categories of information may include sales, growth, management quality, global offices, cost of goods sold, etc.  For example, 100 percent earnings transparency means that accounting earnings offer the ability to fully explain changes in a firm’s value. Lower percentages of transparency means more information than earnings is needed to explain changes in a firm’s value. Konchitchki refers to the economic mechanism that drives the link between transparency and cost of capital as the “information asymmetry” effect. “When the amount of available information is not symmetrical, some investors will have more information, others will have less. This drives the significant negative relation between earnings transparency and the cost of capital, and thus our paper also provides the economic intuition that links between transparency and valuation,” says Konchitchki.
business  corporate_governance  capital 
july 2013 by dunnettreader
Mark Graber: Balkinization: And the (1915, 2013) Winner is . . . Business |June 2013
the conservative majority is reverting to judicial practices before the New Deal, but not in the way many commentators expected.  The justices are not restoring ancient doctrinal categories or dramatically cutting back on civil liberties.  Rather, as was the case in 1915ish, the big winner is business.  When business is not involved, the judicial majority is often at least as liberal if not slightly more liberal than the rest of the ruling regime.
SCOTUS  US_constitution  US_politics  civil_liberties  business  unions 
july 2013 by dunnettreader

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