The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
Information Production and Capital Allocation: Decentralized versus Hierarchical Firms
Abstract
This paper asks how well different organizational structures perform in terms of generating information about investment projects and allocating capital to these projects. A decentralized approach‐with small, single‐manager firms‐is most likely to be attractive when information about projects is “soft” and cannot be credibly transmitted. In contrast, large hierarchies perform better when information can be costlessly “hardened” and passed along inside the firm. The model can be used to think about the consequences of consolidation in the banking industry, particularly the documented tendency for mergers to lead to declines in small‐business lending.
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Cited by
Berger, A. N., Miller, N. H., Petersen, M. A., Rajan, R. G., & Stein, J. C. (2005) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.06.003 · Cited by 1,888
Self-citationDoes Fund Size Erode Mutual Fund Performance? The Role of Liquidity and Organization
Chen, J., Hong, H., Huang, M., & Kubik, J. D. (2004) · American Economic Review · doi:10.1257/0002828043052277 · Cited by 1,430
Banking Globalization and Monetary Transmission
CETORELLI, N., & GOLDBERG, L. S. (2012) · The Journal of Finance · doi:10.1111/j.1540-6261.2012.01773.x · Cited by 774
Democratizing entry: Banking deregulations, financing constraints, and entrepreneurship☆
Kerr, W. R., & Nanda, R. (2009) · Journal of Financial Economics · doi:10.1016/j.jfineco.2008.12.003 · Cited by 679
The institutional memory hypothesis and the procyclicality of bank lending behavior
Berger, A. N., & Udell, G. F. (2004) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2004.06.006 · Cited by 580
Metadata
- Authors
- Stein, J. C.
- Venue
- The Journal of Finance
- Publisher
- Wiley
- Published
- 2002-10
- Volume
- 57
- Issue
- 5
- Pages
- 1891-1921
- ISSN
- 0022-1082 (ISSN-L)
- 1540-6261
- OpenAlex
- W3126127371
- Cited by
- 2,421
- References
- 3
- FWCI
- 168.21
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
