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The Long-Term Effects of Management and Technology Transfers

Michela Giorcelli ()

American Economic Review, 2019, vol. 109, issue 1, 121-52

Abstract: This paper examines the long-run causal effects of management on firm performance. Under the Productivity Program (1952–1958), the US organized management-training trips for Italian managers to U.S. firms and granted technologically advanced machines to Italian companies. I exploit an unexpected budget cut that reduced the number of participating firms and find that, compared to businesses excluded by the budget cut: performance of Italian firms that sent their managers to the US increased for at least fifteen years after the program; performance of companies that received new machines increased, but flattened out over time; management and new machines were complementary.

JEL-codes: F23 L25 M16 M54 N34 N64 O33 (search for similar items in EconPapers)
Date: 2019
Note: DOI: 10.1257/aer.20170619
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Handle: RePEc:aea:aecrev:v:109:y:2019:i:1:p:121-52