William Lazonick

The Academic-Industry Research Network

President

12 Newport Road

Porter Square

Cambridge, MA 02140

United States

  • The Academic-Industry Research Network

SCHOLARLY PAPERS

17

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Rank 17,220

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Top 17,220

in Total Papers Downloads

6,063

TOTAL CITATIONS
Rank 16,092

SSRN RANKINGS

Top 16,092

in Total Papers Citations

142

Scholarly Papers (17)

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1.

US Pharma's Financialized Business Model

Institute for New Economic Thinking Working Paper Series No. 60
Number of pages: 27 Posted: 13 Sep 2017
William Lazonick, Matt Hopkins, Ken Jacobson, Mustafa Erdem Sakinç and Öner Tulum
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 935 (52,978)
Citation 9

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

2.

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
William Lazonick, Mariana Mazzucato and Öner Tulum
The Academic-Industry Research Network, University College London - Institute for Innovation and Public Purpose and SOAS University of London
Downloads 933 (53,123)
Citation 4

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

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 761 (70,009)
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 533 (110,217)
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 508 (116,866)
Citation 23

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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 438 (139,649)
Citation 27

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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.

The Pursuit of Shareholder Value: Cisco’s Transformation from Innovation to Financialization

Institute for New Economic Thinking Working Paper Series No. 202
Number of pages: 65 Posted: 06 Jun 2023
Marie Carpenter and William Lazonick
TELECOM & Management SudParis and The Academic-Industry Research Network
Downloads 320 (197,960)

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Cisco Systems, communication technology, enterprise networking, strategic control, organizational integration, financial commitment, acquisitions, stock-based compensation, share repurchasers, dividends, shareholder value, global competition, innovation, financialization.

8.

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 229 (278,490)
Citation 5

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

9.

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 211 (301,022)
Citation 10

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

10.

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 191 (330,243)

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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

11.

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 188 (335,082)
Citation 2

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

12.

China’s Development Path: Government, Business, and Globalization in an Innovating Economy

Institute for New Economic Thinking Working Paper Series No. 190
Number of pages: 56 Posted: 07 Sep 2022
Yin Li and William Lazonick
Fudan University - School of International Relations and Public Affairs (SIRPA) and The Academic-Industry Research Network
Downloads 185 (340,078)

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China, investment, infrastructure, knowledge, indigenous innovation, globalization, development

13.

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 138 (435,697)
Citation 12

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

14.

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 130 (456,999)
Citation 7

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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

15.

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 127 (465,324)

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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

16.

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 119 (489,416)

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

17.

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 117 (495,694)
Citation 23

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