The quality of managers in centralized versus
Raaj K. Sah and Joseph E. Stiglitz
Quarterly Journal of Economics, Volume 106, Number 1, February 1991, pages 289-295.
(Post-publication note. This paper does not include an abstract. The excerpts below are from the paper.)
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A central task of the leadership of any organization is the choice of its successors and subordinates. The effort and contentiousness which often go into this process suggests that it has important consequences for the organization. Our objective here is to examine how the centralization or decentralization of decision-making authority affects the quality of managers who are actually selected. This question is naturally dynamic because the quality of current managers is not only influenced by that of past managers, but it, in turn, affects the quality of future managers.
Corporate strategies for managing environmental risk, edited by Bernard Sinclair-Desgagné. In: The international library of environmental economics and policy, edited by Tom Tietenberg. Ashgate Publishing, UK, 2004.