Journal
QUARTERLY JOURNAL OF ECONOMICS
Volume 122, Issue 4, Pages 1351-1408Publisher
OXFORD UNIV PRESS INC
DOI: 10.1162/qjec.2007.122.4.1351
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- Economic and Social Research Council [RES-107-28-1001] Funding Source: researchfish
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We use an innovative survey tool to collect management practice data from 732 medium-sized firms in the United States, France, Germany and the United Kingdom. These measures of managerial practice are strongly associated with firm-level productivity, profitability, Tobin's Q, and survival rates. Management practices also display significant cross-country differences, with U.S. firms on average better managed than European firms, and significant within-country differences, with a long tail of extremely badly managed firms. We find that poor management practices are more prevalent when product market competition is weak and/or when family-owned firms pass management control down to the eldest sons (primogeniture).
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