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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   $a20100902d2009      uf         0
101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
182   $cc
183   $acr
200 10$aInstitutional inertia /$fLaura Valderrama
205   $a1st ed.
210   $a[Washington, D.C.] $cInternational Monetary Fund$d2009
215   $a25 p
225 1 $aIMF working paper ;$vWP/09/193
300   $aBibliographic Level Mode of Issuance: Monograph
311   $a1-4519-1764-3 
320   $aIncludes bibliographical references.
327   $aCover Page -- Title Page -- Copyright Page -- Contents -- I. Introduction -- II. A Tale of Explorers, Gold, and Diamonds -- III. The Model -- A. The Cooperative -- 1. Redistribution (date 2 vote) -- 2. Technology choice (date 1 vote) -- 3. Example: Voting for an inefficient polarized technology -- B. Outside Ownership -- C. Cooperatives versus Outside Ownership -- IV. Institutional Inertia -- V. Discussion -- A. Supporting Evidence -- B. Implications for Institutional Design -- VI. Concluding Remarks -- References -- Footnotes.
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 paper ;$vWP/09/193.
606   $aTechnological innovations
606   $aIndustrial management
615  0$aTechnological innovations.
615  0$aIndustrial management.
676   $a658.4;658.4063
700   $aValderrama$b Laura$01597744
712 02$aInternational Monetary Fund.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910812315703321
996   $aInstitutional Inertia$93944853
997   $aUNINA