TY  - JOUR
AU  - Fogel, Kathy
AU  - Morck, Randall
AU  - Yeung, Bernard
TI  - Big Business Stability and Social Welfare
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 14027
PY  - 2008
Y2  - May 2008
DO  - 10.3386/w14027
UR  - http://www.nber.org/papers/w14027
L1  - http://www.nber.org/papers/w14027.pdf
N1  - Author contact info:
Kathy Fogel
 Sawyer Business School
Suffolk University
Boston MA 02108
E-Mail: kfogel@suffolk.edu

Randall Morck
Faculty of Business
University of Alberta
Edmonton, AB T6G 2R6
CANADA
Tel: 780/492-5683
Fax: 780/492-3325
E-Mail: randall.morck@ualberta.ca

Bernard Yeung
National University of Singapore
Mochtar Riady Building
15 Kent Ridge Drive
BIZ 1, Level 6, #6-19
Singapore
Tel: +65 6516 3075 
Fax: +65 6779 1365 
E-Mail: byeung@nus.edu.sg
M1  - published as Kathy Fogel, Randall Morck, Bernard Yeung. "Big Business Stability and Social Welfare," in Takatoshi Ito and Andrew K. Rose, editors, "Financial Sector Development in the Pacific Rim" University of Chicago Press (2009)

M3  - presented at "18th Annual East Asian Seminar on Economics", June 22-24, 2007
AB  - Many countries appear to have excessively stable big business sectors, in that higher rates of big business turnover have been correlated with faster economy growth. Public policies that stabilize big business sectors are sometimes justified as supportive of social objectives. We find no consistent link between big business stability and public goods provision, egalitarianism, or labor empowerment. While absence of evidence is not evidence of absence, these findings suggest that other explanations, such as special interest politics or behavioral biases favoring the status quo also be considered.
ER  -