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- W2478441530 abstract "The Schumpeterian view of the association of economic growth and creative destruction, a process in which innovative and commercially successful firms destroy large established dominant firms, has been substantially validated in recent years. Macroeconomic models of managerial entrenchment have implications for wider economic growth. If a country, in its aim to protect its large established champions from creative destruction, neglects rapidly growing new upstart firms and hinders innovators, it is said to be basically compromising its long-term economic growth. Corporate routines are considered to provide significant innovation that leads to creative destruction; however, it has been found that corporate control turnovers do not lead to change in routines. This chapter examines the dynamic effects of national champions and also measures correlation between these champions and economic growth in standard cross-country growth regressions; the authors posit that there is a negative relationship between capital accumulation and control turnover." @default.
- W2478441530 created "2016-08-23" @default.
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- W2478441530 date "2011-07-22" @default.
- W2478441530 modified "2023-09-26" @default.
- W2478441530 title "National Champions and Economic Growth" @default.
- W2478441530 doi "https://doi.org/10.7551/mitpress/9780262016018.003.0003" @default.
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