Abstract Research Summary Limited liability enables corporate parents to avoid financial
responsibility of their subsidiaries. However, courts can disregard separate legal …

Markets and firms offer contrasting methods to arrange production. In markets, contracts
govern the purchase of parts and services. In firms, the shared values, customs and norms …

The allocation of decision‐making power is a critical choice that organizations make to
mitigate agency problems and information frictions. This paper investigates the role of …

I propose a novel general equilibrium framework to quantify the impact of law enforcement
on the internal organization of firms and thereby on aggregate outcomes. The model …

We study how the technological importance of inputs—measured by cost shares—is related
to the decision to “make” or “buy” that input. Using detailed French international trade data …

Important types of contractual relationships—among them those between integrated product
manufacturers and their suppliers—are neither fully transactional nor fully relational. The …

We study how the technological importance of inputs–measured by cost shares–is related to
the decision to “make” or “buy” that input. Using detailed French international trade data and …

Formal rules within organizations are pervasive, but may be interpreted and implemented
differently by actors within the organization, impacting organizational outcomes. We …

The recent changes in trade policy have significantly impacted trade flows. There is an
ongoing debate on whether and to what extent firms may have also reacted to the new trade …

A principal hiring an agent chooses between employment and self-employment. Under
employment, the principal can control the manner in which the agent performs the …