CEIS-Tor Vergata is pleased to inform you that, on Friday February 28th, 2014 at 12.00 pm, Raoul Minetti (Michigan State University) will present a paper on “Financial Markets, Industry Dynamics, and Growth” ABSTRACT We study the impact of corporate governance frictions on growth in an economy where growth is driven both by the foundation of firms that offer new products and by the in-house investment of incumbent firms. Managers can engage in tunnelling and empire building activities at the expense of firms’ shareholders. Firm founders can monitor managers on behalf of all shareholders, but can shirk on their monitoring, damaging minority shareholders. We investigate the effects of these conflicts among firms' stakeholders and financiers on both the entry of new firms and the investment of existing firms. The analysis also characterizes conditions under which the effects of corporate governance frictions on growth boost or reduce welfare. The Seminar will be held at the Faculty of Economics, University of Rome "Tor Vergata", B-building, 1° floor, room B Please, go to www.ceistorvergata.it for the complete list of seminars and events at CEIS. How to reach us: http://web.uniroma2.it/mobilita/index.html http://www.economia.uniroma2.it/area.asp?a=867 Barbara Piazzi __________ Informazioni da ESET NOD32 Antivirus, versione del database delle firme digitali 9462 (20140224) __________ Il messaggio è stato controllato da ESET NOD32 Antivirus. www.nod32.it |
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