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NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Randall Morck

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Working Papers

January 2014Powerful Independent Directors
with Kathy Fogel, Liping Ma: w19809
December 2013Business Groups in the United States: A Revised History of Corporate Ownership, Pyramids and Regulation, 1930-1950
with Eugene Kandel, Konstantin Kosenko, Yishay Yafeh: w19691
September 2013Productivity Growth and Stock Returns: Firm- and Aggregate-Level Analyses
with Hyunbae Chun, Jung-Wook Kim: w19462
May 2013R-squared and the Economy
with Bernard Yeung, Wayne Yu: w19017
April 2013State-controlled Banks and the Effectiveness of Monetary Policy
with M. Deniz Yavuz, Bernard Yeung: w19004
February 2013Incentives and Outcomes: China’s Environmental Policy
with Jing Wu, Yongheng Deng, Jun Huang, Bernard Yeung: w18754
May 2012Family Ties, Inheritance Rights, and Successful Poverty Alleviation: Evidence from Ghana
with Edward Kutsoati: w18080

Forthcoming: Family Ties, Inheritance Rights, and Successful Poverty Alleviation: Evidence from Ghana, Edward Kutsoati, Randall Morck. in African Successes: Human Capital, Edwards, Johnson, and Weil. 2014

December 2011Capitalizing China
with Joseph Fan, Bernard Yeung: w17687

Published: Translating Market Socialism with Chinese Characteristics into Sustained Prosperity, Joseph P. H. Fan, Randall Morck, Bernard Yeung. in Capitalizing China, Fan and Morck. 2013

March 2011Finance and Governance in Developing Economies
w16870

Published: Randall Morck, 2011. "Finance and Governance in Developing Economies," Annual Review of Financial Economics, Annual Reviews, vol. 3(1), pages 375-406, December. citation courtesy of

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
with Yongheng Deng, Jing Wu, Bernard Yeung: w16871
Adoptive Expectations: Rising Sons in Japanese Family Firms
with Vikas Mehrotra, Jungwook Shim, Yupana Wiwattanakantang: w16874

Published: Mehrotra, Vikas & Morck, Randall & Shim, Jungwook & Wiwattanakantang, Yupana, 2013. "Adoptive expectations: Rising sons in Japanese family firms," Journal of Financial Economics, Elsevier, vol. 108(3), pages 840-854. citation courtesy of

January 2011Economics, History, and Causation
with Bernard Yeung: w16678

Published: Morck, Randall & Bernard Yeung. 2011. Economics, History, and Causation. Business History Review 85 : pp 39-63

November 2010Shareholder Democracy in Canada
w16558
October 2010Agency Problems and the Fate of Capitalism
with Bernard Yeung: w16490
September 2010Must Love Kill the Family Firm?
with Vikas Mehrotra, Jungwook Shim, Yupana Wiwattanakantang: w16340

Published: Mehrotra, Vikas, Randall Morck, Jungwook Shim & Yupana Wiwattanakantang. 2010. Must Love Kill the Family Firm? Entrepreneurship Theory and Practice 36(6)1121-48.

April 2010The Shanxi Banks
with Fan Yang: w15884
March 2010Information, analysts, and stock return comovement
with Allaudeen Hameed, Jianfeng Shen, Bernard Yeung: w15833
December 2009Banking System Control, Capital Allocation, and Economy Performance
with M. Deniz Yavuz, Bernard Yeung: w15575

Published: Morck, Randall & Deniz Yavuz, M. & Yeung, Bernard, 2011. "Banking system control, capital allocation, and economy performance," Journal of Financial Economics, Elsevier, vol. 100(2), pages 264-283, May. citation courtesy of

June 2009Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance
with Bernard Yeung: w15042

Published: Randall Morck & Bernard Yeung, 2009. "Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance," Annual Review of Financial Economics, Annual Reviews, vol. 1(1), pages 145-179, November. citation courtesy of

Generalized Agency Problems
w15051
April 2009The Riddle of the Great Pyramids
w14858
February 2009Characteristics of Observed Limit Order Demand and Supply Schedules for Individual Stocks
with Jung-Wook Kim, Jason Lee: w14733
January 2009Vertical Integration, Institutional Determinants and Impact: Evidence from China
with Joseph P.H. Fan, Jun Huang, Bernard Yeung: w14650
May 2008Big Business Stability and Social Welfare
with Kathy Fogel, Bernard Yeung: w14027

Published:

April 2008Innocents Abroad: The Hazards of International Joint Ventures with Pyramidal Group Firms
with Susan Perkins, Bernard Yeung: w13914
September 2007Institutions and Foreign Investment: China versus the World
with Joseph P.H. Fan, Lixin Colin Xu, Bernard Yeung: w13435

Published: Fan, Joseph P.H. & Morck, Randall & Xu, Lixin Colin & Yeung, Bernard, 2009. "Institutions and Foreign Direct Investment: China versus the Rest of the World," World Development, Elsevier, vol. 37(4), pages 852-865, April.

June 2007Business Groups and the Big Push: Meiji Japan's Mass Privatization and Subsequent Growth
with Masao Nakamura: w13171

Published: Enterprise Soc (2007) 8 (3): 543-601. doi: 10.1093/es/khm076 First published online: September 25, 2007

April 2007Creative Destruction and Firm-Specific Performance Heterogeneity
with Hyunbae Chun, Jung-Wook Kim, Bernard Yeung: w13011

Published: Chun, Hyunbae & Kim, Jung-Wook & Morck, Randall & Yeung, Bernard, 2008. "Creative destruction and firm-specific performance heterogeneity," Journal of Financial Economics, Elsevier, vol. 89(1), pages 109-135, July. citation courtesy of

July 2006Big Business Stability and Economic Growth: Is What's Good for General Motors Good for America?
with Kathy Fogel, Bernard Yeung: w12394

Published: Fogel, Kathy & Morck, Randall & Yeung, Bernard, 2008. "Big business stability and economic growth: Is what's good for General Motors good for America?," Journal of Financial Economics, Elsevier, vol. 89(1), pages 83-108, July. citation courtesy of

April 2005When Labor Has a Voice in Corporate Governance
with Olubunmi Faleye, Vikas Mehrotra: w11254

Published: Faleye, Olubunmi, Vikas Mehrotra and Randall Morck. "When Labor Has A Voice In Corporate Finance," Journal of Financial and Quantitative Analysis, 2006, v41(3,Sep), 489-510. citation courtesy of

January 2005The Global History of Corporate Governance: An Introduction
with Lloyd Steier: w11062

Published: The Global History of Corporate Governance: An Introduction, Randall Morck, Lloyd Steier. in A History of Corporate Governance around the World: Family Business Groups to Professional Managers, Morck. 2005

December 2004How to Eliminate Pyramidal Business Groups - The Double Taxation of Inter-Corporate Dividends and Other Incisive Uses of Tax Policy
w10944

Published: How to Eliminate Pyramidal Business Groups The Double Taxation of Inter-corporate Dividends and other Incisive Uses of Tax Policy , Randall Morck. in Tax Policy and the Economy, Volume 19, Poterba. 2005

November 2004Patterns of Comovement: The Role of Information Technology in the U.S. Economy
with Hyunbae Chun, Jung-Wook Kim, Jason Lee: w10937
August 2004Corporate Governance, Economic Entrenchment and Growth
with Daniel Wolfenzon, Bernard Yeung: w10692

Published: Morck, Randall, Daniel Wolfenzon and Bernard Yeung. "Corporate Governance, Economic Entrenchment, and Growth," Journal of Economic Literature, 2005, v43(3,Sep), 655-720.

July 2004The Rise and Fall of the Widely Held Firm - A History of Corporate Ownership in Canada
with Michael Percy, Gloria Tian, Bernard Yeung: w10635

Published: The Rise and Fall of the Widely Held Firm: A History of Corporate Ownership in Canada , Randall Morck, Michael Percy, Gloria Tian, Bernard Yeung. in A History of Corporate Governance around the World: Family Business Groups to Professional Managers, Morck. 2005

Behavioral Finance in Corporate Governance - Independent Directors, Non-Executive Chairs, and the Importance of the Devil’s Advocate
w10644

Published: Randall Morck, 2008. "Behavioral finance in corporate governance: economics and ethics of the devil’s advocate," Journal of Management and Governance, Springer, vol. 12(2), pages 179-200, May.

April 2004Heterogeneous Investors and their Changing Demand and Supply Schedules for Individual Common Stocks
with Jung-Wook Kim, Jason Lee: w10410
April 2003Why Some Double Taxation Might Make Sense: The Special Case of Inter-corporate Dividends
w9651
December 2001The Mysterious Growing Value of S&P 500 Membership
with Fan Yang: w8654
January 2001Does Firm-specific Information in Stock Prices Guide Capital Allocation?
with Artyom Durnev, Bernard Yeung: w8093
November 1998Inherited Wealth, Corporate Control and Economic Growth: The Canadian Disease
with David A. Stangeland, Bernard Yeung: w6814

Published: Randall Morck & David Stangeland & Bernard Yeung, 2000. "III. ECONOMIC EFFECTS OF CONCENTRATED CORPORATE OWNERSHIP: 11. Inherited Wealth, Corporate Control, and Economic Growth The Canadian Disease?," NBER Chapters, in: Concentrated Corporate Ownership, pages 319-372 National Bureau of Economic Research, Inc.

December 1991Income Shifting in U.S. Multinational Corporations
with David Harris, Joel Slemrod, Bernard Yeung: w3924

Published:

June 1989Do Managerial Objectives Drive Bad Acquisitions?
with Andrei Shleifer, Robert W. Vishny: w3000

Published: Journal of Finance, March 1990. citation courtesy of

March 1988Alternative Mechanisms for Corporate Control
with Andrei Shleifer, Robert W. Vishny: w2532

Published: "Alternative Mechanisms for Corporate Control" American Economic Review, Sept, 1989. citation courtesy of

June 1987Characteristics of Hostile and Friendly Takeover Targets
with Andrei Shleifer, Robert W. Vishny: w2295

Published:

October 1986Management Ownership and Corporate Performance: An Empirical Analysis
with Andrei Shleifer, Robert W. Vishny: w2055

Published: "Management Ownership and Market Valuation: An Empirical Analysis" Journal of Financial Economics, March, 1988

July 1986Funding and Asset Allocation in Corporate Pension Plans: An Empirical Investigation
with Zvi Bodie, Jay O. Light, Robert A. Taggart, Jr.: w1315

Published:

April 1985How Does the Market Value Unfunded Pension Liabilities?
with Jeremy I. Bulow, Lawrence H. Summers: w1602

Published:

July 1982Pension Funding Decisions, Interest Rate Assumptions and Share Prices
with Martin Feldstein: w0938

Published: Bodie, Zvi and John B. Shoven (eds.) Financial Aspects of the U.S. Pension System. Chicago: University of Chicago Press, 1983.

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers onlyInformation about this author at RePEc

 
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