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

11

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Scholarly Papers (11)

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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
William Lazonick, Mariana Mazzucato and Öner Tulum
The Academic-Industry Research Network, University of York - Social Policy Research Unit (SPRU) and SOAS University of London
Downloads 792 (29,590)

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

2.

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 317 (93,594)

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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

3.

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 242 (124,086)

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

4.

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 240 (125,179)

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

5.

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 150 (192,157)

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

6.

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 136 (207,974)

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

7.

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 95 (269,539)

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

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 78 (304,374)

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

9.

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 74 (313,888)

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

10.

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 57 (359,436)

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

11.

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 42 (409,509)

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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