haku: @author Yeung, B. / yhteensä: 14
viite: 2 / 14
| Tekijä: | Fogel, K. Morck, R. Yeung, B. |
| Otsikko: | Big business stability and economic growth: Is what's good for General Motors good for America? |
| Lehti: | Journal of Financial Economics
2008 : JUL, VOL. 89:1, p. 83-108 |
| Asiasana: | economic growth stabilization companies USA |
| Kieli: | eng |
| Tiivistelmä: | What is good for a country may not be good for its big businesses. More turnover in top businesses correlates with faster per capita gross domestic product, productivity, and capital growth, supporting Schumpeter's theory of "creative destruction", innovative firms blooming as stagnant ones wither ("Capitalism, Socialism and Democracy", 1942). These correlations are greater in more developed economies, supporting Aghion and Howitt's ("A model of growth through creative destruction" in Econometrica 1992, 60, p. 323351) thesis of creative destruction mattering more to economies nearer the technological frontier. Also, more big business turnover correlates with smaller government, greater openness, common law, less bank-dependence, and stronger shareholder rights. |
SCIMA