Managerial Culture and the Capacity Stance of Firms.
This paper begins by highlighting the autonomous nature of the firm’s investment decision. Given this, it argues, there is no reason to expect that capacity formation – a crucial vehicle for innovation and an essential element in the competitive process - will be at the level that would be considere...
| Main Authors: | , |
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| Format: | Working paper |
| Language: | English |
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ESRC Centre for Research on Innovation and Competition
1998
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| _version_ | 1797050296801689600 |
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| author | Driver, C Michie, J |
| author_facet | Driver, C Michie, J |
| author_sort | Driver, C |
| collection | OXFORD |
| description | This paper begins by highlighting the autonomous nature of the firm’s investment decision. Given this, it argues, there is no reason to expect that capacity formation – a crucial vehicle for innovation and an essential element in the competitive process - will be at the level that would be considered economically optimal in aggregate. Indeed, the paper suggests that there has been a trend tightening of the capacity stance over the last two decades in many countries and estimates the extent of this for the UK. The paper discusses how elements of managerial culture and the institutional framework might complement standard models of investment; in particular it draws on Lazonick’s insights on organisational capital. |
| first_indexed | 2024-03-06T18:03:05Z |
| format | Working paper |
| id | oxford-uuid:007c31a4-14ee-47cd-b221-7b3ceb59c370 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-06T18:03:05Z |
| publishDate | 1998 |
| publisher | ESRC Centre for Research on Innovation and Competition |
| record_format | dspace |
| spelling | oxford-uuid:007c31a4-14ee-47cd-b221-7b3ceb59c3702022-03-26T08:29:44ZManagerial Culture and the Capacity Stance of Firms.Working paperhttp://purl.org/coar/resource_type/c_8042uuid:007c31a4-14ee-47cd-b221-7b3ceb59c370EnglishDepartment of Economics - ePrintsESRC Centre for Research on Innovation and Competition1998Driver, CMichie, JThis paper begins by highlighting the autonomous nature of the firm’s investment decision. Given this, it argues, there is no reason to expect that capacity formation – a crucial vehicle for innovation and an essential element in the competitive process - will be at the level that would be considered economically optimal in aggregate. Indeed, the paper suggests that there has been a trend tightening of the capacity stance over the last two decades in many countries and estimates the extent of this for the UK. The paper discusses how elements of managerial culture and the institutional framework might complement standard models of investment; in particular it draws on Lazonick’s insights on organisational capital. |
| spellingShingle | Driver, C Michie, J Managerial Culture and the Capacity Stance of Firms. |
| title | Managerial Culture and the Capacity Stance of Firms. |
| title_full | Managerial Culture and the Capacity Stance of Firms. |
| title_fullStr | Managerial Culture and the Capacity Stance of Firms. |
| title_full_unstemmed | Managerial Culture and the Capacity Stance of Firms. |
| title_short | Managerial Culture and the Capacity Stance of Firms. |
| title_sort | managerial culture and the capacity stance of firms |
| work_keys_str_mv | AT driverc managerialcultureandthecapacitystanceoffirms AT michiej managerialcultureandthecapacitystanceoffirms |