William Lazonick

The Academic-Industry Research Network

President

12 Newport Road

Porter Square

Cambridge, MA 02140

United States

SCHOLARLY PAPERS

15

DOWNLOADS
Rank 18,643

SSRN RANKINGS

Top 18,643

in Total Papers Downloads

3,778

SSRN CITATIONS
Rank 16,348

SSRN RANKINGS

Top 16,348

in Total Papers Citations

28

CROSSREF CITATIONS

39

Scholarly Papers (15)

1.

Apple's Changing Business Model: What Should the World's Richest Company Do with All Those Profits?

Accounting Forum, Forthcoming
Number of pages: 41 Posted: 16 Aug 2013
The Academic-Industry Research Network, University of SussexUniversity of York - Social Policy Research Unit (SPRU) and SOAS University of London
Downloads 847 (39,455)
Citation 2

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Apple's business model, Risk-reward nexus, Innovative enterprise, Stock repurchase

2.

US Pharma's Financialized Business Model

Institute for New Economic Thinking Working Paper Series No. 60
Number of pages: 27 Posted: 13 Sep 2017
The Academic-Industry Research Network, The Academic-Industry Research Network, The Academic-Industry Research Network, The Academic-Industry Research Network and SOAS University of London
Downloads 639 (57,410)
Citation 9

Abstract:

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Pharmaceutical drugs, innovation, financialization, price-gouging, stock buybacks, executive pay, shareholder value

3.

The Functions of the Stock Market and the Fallacies of Shareholder Value

Institute for New Economic Thinking Working Paper Series No. 58
Number of pages: 26 Posted: 28 Jun 2017 Last Revised: 11 Sep 2017
William Lazonick
The Academic-Industry Research Network
Downloads 542 (70,655)
Citation 8

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Corporate governance, stock market, maximize shareholder value (MSV), stock-based compensation, stock buybacks, innovation, speculation, manipulation, innovation theory, agency theory, shareholder value ideology

4.

Innovative Enterprise Solves the Agency Problem: The Theory of the Firm, Financial Flows, and Economic Performance

Institute for New Economic Thinking Working Paper Series No. 62
Number of pages: 43 Posted: 04 Dec 2017
William Lazonick
The Academic-Industry Research Network
Downloads 333 (124,651)
Citation 12

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Innovation theory, agency theory, maximize shareholder value (MSV), stock buybacks, value creation, value extraction, corporate governance, shareholder value ideology

5.

US Biopharmaceutical Finance and the Sustainability of the Biotech Business Model

Research Policy, Vol. 40, No. 11, 2011
Number of pages: 36 Posted: 30 Apr 2013
William Lazonick and Öner Tulum
The Academic-Industry Research Network and SOAS University of London
Downloads 324 (128,401)
Citation 17

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Business Model, Product Design, Qualitative Research, Innovation Policy, Health Innovation, Academic Spin-offs, Medical Devices, R&D Policy

6.

The Value-Extracting CEO: How Executive Stock-Based Pay Undermines Investment in Productive Capabilities

Institute for New Economic Thinking Working Paper Series No. 54
Number of pages: 32 Posted: 29 Jun 2017
William Lazonick
The Academic-Industry Research Network
Downloads 233 (179,140)
Citation 16

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corporation, senior executive, stock-based compensation, stock prices, stock buybacks, innovation, speculation, manipulation, innovation theory, agency theory, shareholder-value ideology

7.

Labor in the Twenty-First Century: The Top 0.1 percent and the Disappearing Middle-Class

Number of pages: 39 Posted: 20 Sep 2014
William Lazonick
The Academic-Industry Research Network
Downloads 167 (241,482)
Citation 1

Abstract:

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maximizing shareholder value, skill-biased technical change, New Economy business model, financialization of the U.S. Business Corporation, stock buybacks

8.

The Mismeasure of Mammon: Uses and Abuses of Executive Pay Data

Institute for New Economic Thinking Working Paper Series No. 49
Number of pages: 63 Posted: 01 Dec 2016
Matt Hopkins and William Lazonick
The Academic-Industry Research Network and The Academic-Industry Research Network
Downloads 128 (298,452)
Citation 10

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Executive compensation, stock-based pay, stock options, stock awards, estimated fair value, actual realized gains, ExecuComp, SEC, FASB

9.

Is the Most Unproductive Firm the Foundation of the Most Efficient Economy? Penrosian Learning Confronts the Neoclassical Fallacy

Institute for New Economic Thinking Working Paper Series No. 111
https://doi.org/10.36687/inetwp111
Number of pages: 33 Posted: 11 Feb 2020
William Lazonick
The Academic-Industry Research Network
Downloads 111 (330,593)

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Theory of the firm, Penrosian learning, Chandlerian history, innovative enterprise, economic performance, Paul Samuelson, neoclassical fallacy, constrained optimization, historical transformation

10.

Skill Development and Sustainable Prosperity: Cumulative and Collective Careers versus Skill-Biased Technical Change

Institute for New Economic Thinking Working Paper Series No. 15
Number of pages: 70 Posted: 01 Aug 2015
William Lazonick, Philip Moss, Hal Salzman and Öner Tulum
The Academic-Industry Research Network, University of Massachusetts Lowell, Rutgers University and SOAS University of London
Downloads 94 (368,581)
Citation 8

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Organizational Learning, Technological Change, Skills, Careers, High Technology, Innovative Enterprise, Productivity

11.

How “Maximizing Shareholder Value” Minimized the Strategic National Stockpile: The $5.3 Trillion Question for Pandemic Preparedness Raised by the Ventilator Fiasco

Institute for New Economic Thinking Working Paper Series No. 127
https://doi.org/10.36687/inetwp127
Number of pages: 64 Posted: 13 Aug 2020 Last Revised: 14 Aug 2020
William Lazonick and Matt Hopkins
The Academic-Industry Research Network and The Academic-Industry Research Network
Downloads 92 (373,682)

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pandemic preparedness, government-business collaborations, Strategic National Stockpile (SNS), Biomedical Research and Development Authority (BARDA), ventilators, innovative enterprise, maximizing shareholder value, stock buybacks, predatory value extraction, Microsoft, ExxonMobil, Apple, Business R

12.

Who Invests in the High-Tech Knowledge Base?

Institute for New Economic Thinking Working Paper Series No. 14
Number of pages: 68 Posted: 01 Aug 2015
Matt Hopkins and William Lazonick
The Academic-Industry Research Network and The Academic-Industry Research Network
Downloads 81 (403,307)
Citation 16

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Knowledge, Investment, Innovation, R&D, Universities, Productivity

13.

The Equal Employment Opportunity Omission

Institute for New Economic Thinking Working Paper Series No. 53
Number of pages: 26 Posted: 29 Jun 2017
William Lazonick, Philip Moss and Joshua Weitz
The Academic-Industry Research Network, University of Massachusetts Lowell and The Academic-Industry Research Network
Downloads 74 (424,436)
Citation 6

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employment opportunity, employment relations, blue-collar workers, white- collar workers, corporate governance, financialization, racial discrimination, African Americans, middle class, intergenerational economic mobility

14.

How the Disappearance of Unionized Jobs Obliterated an Emergent Black Middle Class

Institute for New Economic Thinking Working Paper Series No. 125
https://doi.org/10.36687/inetwp125
Number of pages: 19 Posted: 13 Aug 2020 Last Revised: 14 Aug 2020
William Lazonick, Philip Moss and Joshua Weitz
The Academic-Industry Research Network, affiliation not provided to SSRN and The Academic-Industry Research Network
Downloads 65 (454,542)

Abstract:

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African American, employment relations, equal employment opportunity, unions, blue-collar, socioeconomic mobility, corporate governance, shareholder value, retain-and-reinvest, downsize-and-distribute, discrimination, economic inequality

15.

Employment and Earnings of African Americans Fifty Years After: Progress?

Institute for New Economic Thinking Working Paper Series No. 129
https://doi.org/10.36687/inetwp129
Number of pages: 50 Posted: 13 Aug 2020 Last Revised: 14 Aug 2020
William Lazonick, Philip Moss and Joshua Weitz
The Academic-Industry Research Network, affiliation not provided to SSRN and The Academic-Industry Research Network
Downloads 48 (522,085)

Abstract:

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African American, occupations, industries, education, employment opportunity, employment relations, income distribution, wealth accumulation, stock buybacks