Here, I explore the system-level consequences of learning and adaptation among fish and fishers. The fundamental idea is that the cost of acquiring the knowledge needed to resolve uncertainty is the principal driver of social and spatial organization. This cost limits agents’ actions and leads them to prefer relatively persistent associations with familiar agents and places. When all agents act...

A growing share of illicit drug dealing occurs on online platforms. Technological innovations, such as encryption and anonymous payments, have enabled new more complex ways organizing transactions. This conceptual essay advances the study by describing how governance mechanisms from markets, networks, hierarchies are combined to reduce transactional uncertainty. Based published research, I argu...

Transaction cost economics argues that aligning transactions with governance structures leads to more efficient outcomes. While empirical evidence demonstrates that firms choose governance consistent with transaction cost predictions, the performance implications of governance choices are less well explored. Here I examine the cost of misaligned governance in the context of research and develop...

This paper develops an organizational approach to corporate governance and assesses the effectiveness of corporate governance and implications for policy. Most corporate governance research focuses on a universal link between corporate governance practices (e.g., board structure, shareholder activism) and performance outcomes, but neglects how interdependencies between the organization and dive...

Running a health care organization is a team sport. It is very important that all members of the team—whether on the medical staff, in management, or on the board—understand the role of governance and what constitutes effective governance. Many misunderstandings about the roles of boards exist. Many people think that board members are paid, for example, which is not true. Effective governance: ...

Corporate organization varies within countries and between countries. We develop a theory which explains the variation in levels of decentralization across firms and links it to the trade environment that firms face. We introduce firms with internal hierarchies in a Melitz and Ottaviano (2008) model of international trade. We show that international trade increases the conflict of interest betw...

Surveys of the largest U.S. corporations routinely demonstrate that the role of women in corporate governance is acutely limited. In this research we examine how high-growth entrepreneurial sectors of the economy compare to that standard. We posit that high demand labor markets, enhanced higher education of women, and dynamic industry and firm conditions could result in a greater participation ...

Financial crises have a way of bringing corporate governance to the foreground. For interested parties wanting to know more, there is an impressive body of research that looks at companies and the connection between strong governance and better performance. However, the existing literature only goes so far. It does not look at whether the level and quality of firm-level corporate governance pla...

the asian financial crisis in 1997 has awakened the regulators and corporates on the importance of corporate governance. according to agency theory, a good corporate governance system is necessary for more transparent information disclosure about the corporation. accordingly, the objective of this study is evaluating the level of disclosure in banks and examine the relationship between some fea...