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010   $a1-4623-1742-1
010   $a1-282-84402-4
010   $a9786612844027
010   $a1-4527-2181-5
010   $a1-4518-7340-9
035   $a(CKB)3170000000055339
035   $a(SSID)ssj0000941491
035   $a(PQKBManifestationID)11577297
035   $a(PQKBTitleCode)TC0000941491
035   $a(PQKBWorkID)10982268
035   $a(PQKB)10134096
035   $a(OCoLC)649466035
035   $a(MiAaPQ)EBC1608810
035   $a(IMF)WPIEE2009193
035   $a(EXLCZ)993170000000055339
100   $a20020129d2009      uf             0
101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
182   $cc
183   $acr
200 10$aInstitutional Inertia /$fLaura Valderrama
210  1$aWashington, D.C. :$cInternational Monetary Fund,$d2009.
215   $a25 p
225 1 $aIMF Working Papers
300   $aBibliographic Level Mode of Issuance: Monograph
311   $a1-4519-1764-3 
320   $aIncludes bibliographical references.
330 3 $aWe study the relative efficiency of outside-owned versus employee-owned firms and analyze implications for institutional change in a context of technological innovation. When decisions are made through majority voting, the vote on technology choice is used to influence the later vote on the sharing rule. We show how this dynamic voting generates a systematic technological bias that is contingent on firm ownership. We provide conditions under which the pivotal voter's political leverage leads the firm to an institutional trap whereby majority voting and inefficient technology choice reinforce each other, leading to institutional inertia.
410  0$aIMF Working Papers; Working Paper ;$vNo. 2009/193
606   $aTechnological innovations
606   $aIndustrial management
606   $aInvestments: Metals$2imf
606   $aLabor$2imf
606   $aProduction and Operations Management$2imf
606   $aInnovation$2imf
606   $aResearch and Development$2imf
606   $aTechnological Change$2imf
606   $aIntellectual Property Rights: General$2imf
606   $aMacroeconomics: Production$2imf
606   $aMetals and Metal Products$2imf
606   $aCement$2imf
606   $aGlass$2imf
606   $aCeramics$2imf
606   $aHuman Capital$2imf
606   $aSkills$2imf
606   $aOccupational Choice$2imf
606   $aLabor Productivity$2imf
606   $aWages, Compensation, and Labor Costs: General$2imf
606   $aTechnology$2imf
606   $ageneral issues$2imf
606   $aMacroeconomics$2imf
606   $aLabour$2imf
606   $aincome economics$2imf
606   $aInvestment & securities$2imf
606   $aProductivity$2imf
606   $aGold$2imf
606   $aHuman capital$2imf
606   $aWages$2imf
606   $aIndustrial productivity$2imf
607   $aUnited States$2imf
615  0$aTechnological innovations.
615  0$aIndustrial management.
615  7$aInvestments: Metals
615  7$aLabor
615  7$aProduction and Operations Management
615  7$aInnovation
615  7$aResearch and Development
615  7$aTechnological Change
615  7$aIntellectual Property Rights: General
615  7$aMacroeconomics: Production
615  7$aMetals and Metal Products
615  7$aCement
615  7$aGlass
615  7$aCeramics
615  7$aHuman Capital
615  7$aSkills
615  7$aOccupational Choice
615  7$aLabor Productivity
615  7$aWages, Compensation, and Labor Costs: General
615  7$aTechnology
615  7$ageneral issues
615  7$aMacroeconomics
615  7$aLabour
615  7$aincome economics
615  7$aInvestment & securities
615  7$aProductivity
615  7$aGold
615  7$aHuman capital
615  7$aWages
615  7$aIndustrial productivity
700   $aValderrama$b Laura$01481162
712 02$aInternational Monetary Fund.
801  0$bDcWaIMF
906   $aBOOK
912   $a9910788227903321
996   $aInstitutional Inertia$93741583
997   $aUNINA