Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms

By Jeremy C. Stein. 2000

1,829 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/3dfb055a144f8999e642fb41c0c05efdb510c886

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Citations in the corpus

Internal versus External Financing: An Optimal Contracting Approach (2003, background): “1033 redeploying assets across divisions (Gertner, Scharfstein, and Stein (1994)), or weakening managerial incentives (Stein (2002)).”
When Does Coordination Require Centralization (2006, unknown): “Using (48) and (50) we find that the difference in the derivatives at λ = 1/2 is given by d (ΠD −ΠC) dλ = 8 3 α (1− α) δ (1− α) (1 + 4δ)− δ (α (1− α) + δ)(2) σ 2 for λ = 1/2”
Reallocation of Corporate Resources and Managerial Incentives in Internal Capital Markets (2005, unknown): “Stein (2002b) provides a recent survey.”
Small Business and the Value of Community Financial Institutions (2004, background): “Berger and Udell (2002) and Stein (2002) have examined the problems of soft information production and the organizational architecture of the lending institution.”
Bank Financing for SMEs: Evidence Across Countries and Bank Ownership Types (2009, background): “Finally, studies such as Stein (2002), Mian (2006), and Liberti and Mian (2009) have argued that more centralized and hierarchical organizational structures can have a negative impact on lending to opaque borrowers, such as SMEs.”
Giants at the Gate: Investment Returns and Diseconomies of Scale in Private Equity (2015, unknown): “Moreover, as argued in Stein (2002), some information may get lost as employees in charge of an investment report to the partner above them, who in turn reports to other partners.”