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| Identificativo | Stein02, |
| Tipo di record |  |
| Autore/i | Stein J |
| Anno | 2002 |
| Titolo | Information Production and Capital Allocation: Decentralized versus Hierarchical Firms |
| art |
| Altre Informazioni | in Journal of Finance, vol. 57, nr. 5, pagg. 1891-1922. |
| Keywords separare key1:key2 | |
| Abstract | This paper asks how well different organizational structures perform in terms of generating information about investment projects and allocating capital to these projects. A decentralized approachwith small, single-manager firms is most likely to be attractive when information about projects is "soft" and cannot be credibly transmitted. In contrast, large hierarchies perform better when information can be costlessly "hardened" and passed along inside the firm. The model can be used to think about the consequences of consolidation in the banking industry, particularly the documented tendency for mergers to lead to declines in small-business lending. |
| File documento allegato | |
| Unità di ricerca interessata | Trento - Dipartimento di informatica e studi aziendali |
| Workpackage(s) interessato(i) | WP01-Modelli teorici reti, WP03-Business office |
| Documento del gruppo di ricerca | No |
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