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UID:055e394627f596421ee350ff1a6bbb53
CATEGORIES:Seminars
CREATED:20170426T191930
SUMMARY:Wouter Dessein - Columbia Business School
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Organizational Capital, Managerial Heterogeneity, and Firm Dynamics\nAbstra
 ct:\n We develop a simple model of firm dynamics, where firm performance de
 pends on a set of intangible assets that we call organizational capital. In
  turn, the growth of organizational capital depends on the ability and beha
 vior of the CEO. The profit-maximizing firm owner can hire and fire the CEO
  but she faces informational and contractual constraints. Equilibrium is ch
 aracterized by the co-existence of firms with different organizational capi
 tal, different leadership styles, and different performances. This model ra
 tionalizes stylized facts about firm performance, management practices, and
  CEOs.\n
DTSTAMP:20260422T054107Z
DTSTART:20170420T173000Z
DTEND:20170420T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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