Aldo Musacchio

Brandeis University- International Business School

Visiting Associate Professor

415 South Street MC 32

Waltham, MA 02454-9110

United States

National Bureau of Economic Research

Faculty Research Fellow

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

http://www.nber.org/people/aldo_musacchio

SCHOLARLY PAPERS

31

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28

Scholarly Papers (31)

1.

Leviathan in Business: Varieties of State Capitalism and Their Implications for Economic Performance

Number of pages: 63 Posted: 31 May 2012 Last Revised: 30 Jun 2012
Aldo Musacchio and Sérgio G. Lazzarini
Brandeis University- International Business School and Insper Institute of Education and Research
Downloads 2,801 (3,995)
Citation 1

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state capitalism, state-owned enterprises, development banks, sovereign wealth funds

2.

What Do Development Banks Do? Evidence from BNDES, 2002-2009

Number of pages: 53 Posted: 08 Dec 2011 Last Revised: 31 May 2014
Insper Institute of Education and Research, Brandeis University- International Business School, Getulio Vargas Foundation (FGV-EAESP) and UNIVALI - Universidade do Vale do Itajai
Downloads 971 (22,084)
Citation 2

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Development banks, industrial policy, national champions, political economy

3.

In Strange Company: The Puzzle of Private Investment in State-Controlled Firms

Harvard Business School BGIE Unit Working Paper No. 13-071
Number of pages: 39 Posted: 14 Feb 2013
Fundação Getulio Vargas Law School at São Paulo, Brandeis University- International Business School and Insper Institute of Education and Research
Downloads 948 (22,871)

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4.

Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003

Number of pages: 28 Posted: 23 Nov 2010
Sérgio G. Lazzarini and Aldo Musacchio
Insper Institute of Education and Research and Brandeis University- International Business School
Downloads 309 (95,783)

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Development Bank, State Ownership, Industrial Policy, Firm Performance

5.

Do Legal Origins Have Persistent Effects Over Time? A Look at Law and Finance Around the World c. 1900

Number of pages: 64 Posted: 22 Jan 2008
Aldo Musacchio
Brandeis University- International Business School
Downloads 285 (104,503)
Citation 3

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Legal origins, financial development, creditor rights, shareholder rights, stock markets, history, bankruptcy, globalization

6.

Can Civil Law Countries Get Good Institutions? Lessons from the History of Creditor Rights and Bond Markets in Brazil

Number of pages: 29 Posted: 03 Jan 2008
Aldo Musacchio
Brandeis University- International Business School
Downloads 274 (109,046)
Citation 13

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law and finance, legal origins, bankruptcy, Brazil, bond markets

7.

These Are the Good Old Days: Foreign Entry and the Mexican Banking System

Harvard Business School BGIE Unit Working Paper No. 13-062
Number of pages: 101 Posted: 10 Jan 2013
Stephen Haber and Aldo Musacchio
Stanford University - Hoover Institution and Political Science and Brandeis University- International Business School
Downloads 250 (119,950)

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8.

Do CEOs of State-Owned Enterprises Matter? Evidence from Brazil, 1973-1993

Number of pages: 40 Posted: 30 Jun 2012
Brandeis University- International Business School, Insper Institute of Education and Research and affiliation not provided to SSRN
Downloads 234 (128,255)

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State-owned enterprises, CEOs, military CEOs, bureaucrats, state capitalism

9.

Implicit Bailouts and the Debt of Wholly State-Owned Enterprises

Number of pages: 53 Posted: 09 Oct 2015 Last Revised: 03 Aug 2018
University of Chile - Business School, University of Chile - Business School and Brandeis University- International Business School
Downloads 233 (128,817)

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implicit guarantees, Saudi Aramco bonds, State Owned Enterprises, SOE, fixed income

Big BRICs, Weak Foundations: The Beginning of Public Elementary Education in Brazil, Russia, India, and China

Harvard Business School BGIE Unit Working Paper No. 11-083
Number of pages: 58 Posted: 13 Feb 2011 Last Revised: 29 Dec 2014
Latika Chaudhary, Aldo Musacchio, Steven Nafziger and Se Yan
Naval Postgraduate School, Brandeis University- International Business School, Williams College and Peking University - Guanghua School of Management
Downloads 215 (138,874)
Citation 2

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Brazil, Russia, India, China, economic history, education, political economy, elites

Big BRICS, Weak Foundations: The Beginning of Public Elementary Education in Brazil, Russia, India, and China

NBER Working Paper No. w17852
Number of pages: 61 Posted: 20 Feb 2012 Last Revised: 29 Dec 2014
Latika Chaudhary, Aldo Musacchio, Steven Nafziger and Se Yan
Naval Postgraduate School, Brandeis University- International Business School, Williams College and Peking University - Guanghua School of Management
Downloads 18 (541,838)
Citation 2

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11.

Leviathan as a Minority Shareholder: A Study of Equity Purchases by the Brazilian National Development Bank (BNDES), 1995-2003

Harvard Business School BGIE Unit Working Paper No. 11-073
Number of pages: 29 Posted: 23 Jan 2011
Sérgio G. Lazzarini and Aldo Musacchio
Insper Institute of Education and Research and Brandeis University- International Business School
Downloads 180 (164,050)

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12.

Bank Accounting Standards in Mexico: A Layman's Guide to Changes 10 Years after the 1995 Bank Crisis

Number of pages: 32 Posted: 02 Apr 2008
Gustavo A. Del Angel, Stephen Haber and Aldo Musacchio
Centro de Investigación y Docencia Económicas (CIDE), Stanford University - Hoover Institution and Political Science and Brandeis University- International Business School
Downloads 158 (183,745)

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13.

Laws vs. Contracts: Legal Origins, Shareholder Protections, and Ownership Concentration in Brazil, 1890-1950

Number of pages: 39 Posted: 25 Jan 2008
Aldo Musacchio
Brandeis University- International Business School
Downloads 144 (198,379)
Citation 1

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Bankers, Industrialists, and Their Cliques: Elite Networks in Mexico and Brazil During Early Industrialization

Number of pages: 38 Posted: 07 Dec 2006
Aldo Musacchio and Ian Read
Brandeis University- International Business School and University of California, Berkeley
Downloads 132 (213,548)
Citation 1

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Brazil, Mexico, Networks, economic sociology, business history, institutions, informal institutions, regulation of entry

Bankers, Industrialists, and Their Cliques: Elite Networks in Mexico and Brazil during Early Industrialization

Enterprise and Society, Vol. 8, Issue 4, pp. 842-880, 2007
Posted: 30 Jun 2008
Aldo Musacchio and Ian Read
Brandeis University- International Business School and University of California, Berkeley

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15.

Colonial Institutions, Trade Shocks, and the Diffusion of Elementary Education in Brazil, 1889-1930

Harvard Business School BGIE Unit Working Paper No. 10-075
Number of pages: 43 Posted: 10 Mar 2010 Last Revised: 18 Dec 2012
Aldo Musacchio, Andre Martinez and Martina Viarengo
Brandeis University- International Business School, Banco de México and London School of Economics & Political Science (LSE)
Downloads 117 (233,176)

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Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

Harvard Business School BGIE Unit Working Paper No. 10-027
Number of pages: 45 Posted: 23 Dec 2009 Last Revised: 24 Dec 2009
Andre Martinez and Aldo Musacchio
Banco de México and Brandeis University- International Business School
Downloads 53 (377,342)

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Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930

NBER Working Paper No. w15411
Number of pages: 45 Posted: 13 Oct 2009 Last Revised: 12 Aug 2010
Andre Martinez and Aldo Musacchio
Banco de México and Brandeis University- International Business School
Downloads 10 (594,033)

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17.

Hybrid Leviathans Overseas: Government-Private Shareholder Conflicts in Cross-Border Acquisitions

2016 Academy of Management Meeting Best Paper Proceedings, Forthcoming
Number of pages: 6 Posted: 02 May 2016 Last Revised: 04 Aug 2016
Victor Zitian Chen, Aldo Musacchio and Sali Li
University of North Carolina, CharlotteUniversity of North Carolina (UNC) at Charlotte - The Belk College of Business Administration, Brandeis University- International Business School and University of Utah - David Eccles School of Business
Downloads 57 (359,024)

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State-owned enterprise, privatization, acquisitions, FDI, cross-border

18.

Law and Finance C. 1900

NBER Working Paper No. w16216
Number of pages: 74 Posted: 26 Jul 2010 Last Revised: 10 Aug 2010
Aldo Musacchio
Brandeis University- International Business School
Downloads 33 (444,890)
Citation 5

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19.

A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs

Journal of Management, Forthcoming
Number of pages: 56 Posted: 09 Feb 2018
Victor Zitian Chen, Aldo Musacchio and Sali Li
University of North Carolina, CharlotteUniversity of North Carolina (UNC) at Charlotte - The Belk College of Business Administration, Brandeis University- International Business School and University of Utah - David Eccles School of Business
Downloads 25 (483,797)

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Agency Theory, State-Owned Enterprise, Multinational Enterprise, Cross-Border Acquisitions

20.

Governments as Owners: State-Owned Multinational Companies

Cuervo-Cazurra, A. Inkpen, A., Musacchio, A. and Ramaswamy, K. 2014. Governments as owners: State-owned multinational companies. Journal of International Business Studies, 45: 919-942.
Number of pages: 25 Posted: 27 Dec 2018
Northeastern University - Department of International Business and Strategy, Thunderbird School of Management, Brandeis University- International Business School and Thunderbird School of Global Management
Downloads 12 (558,095)

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State ownership, multinational companies, firm objectives, internationalization

21.

The Industrialization of South America Revisited: Evidence from Argentina, Brazil, Chile and Colombia, 1890-2010

NBER Working Paper No. w24345
Number of pages: 46 Posted: 28 Feb 2018
American University of Paris, Universidad de los Andes, Colombia and Brandeis University- International Business School
Downloads 12 (558,095)
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22.

The Brazilian Bombshell? The Long-Term Impact of the 1918 Influenza Pandemic the South American Way

Number of pages: 59 Posted: 29 May 2019
Amanda Guimbeau, Nidhiya Menon and Aldo Musacchio
Brandeis University, International Business School, Students, Brandeis University - International Business School and Brandeis University- International Business School
Downloads 9 (576,177)

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1918 Influenza Pandemic, Demographic Measures, Health, Education, Short-run, Long-run, Economic History, Sao Paulo Brazil

23.

These are the Good Old Days: Foreign Entry and the Mexican Banking System

NBER Working Paper No. w18713
Number of pages: 101 Posted: 18 Jan 2013 Last Revised: 26 Jan 2013
Stephen Haber and Aldo Musacchio
Stanford University - Hoover Institution and Political Science and Brandeis University- International Business School
Downloads 5 (601,021)

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24.

Colonial Institutions, Commodity Booms, and the Diffusion of Elementary Education in Brazil, 1889-1930

NBER Working Paper No. w20029
Number of pages: 36 Posted: 14 Apr 2014
Aldo Musacchio, Andre Martinez and Martina Viarengo
Brandeis University- International Business School, Banco de México and Graduate Institute of International and Development Studies (IHEID)
Downloads 3 (615,380)

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25.

State Ownership Reinvented? Explaining Performance Differences between State‐Owned and Private Firms

Corporate Governance: An International Review, Vol. 26, Issue 4, pp. 255-272, 2018
Number of pages: 18 Posted: 27 Jul 2018
Sergio G. Lazzarini and Aldo Musacchio
Insper Institute of Education and Research and Brandeis University- International Business School
Downloads 0 (655,519)
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Corporate Governance, National Privatization, National‐Level Governance Outcomes, Ownership Mechanisms, State‐Owned Enterprise (SOE)

26.

State-Owned Enterprise Reform in Latin America: Issues and Possible Solutions

Posted: 25 Aug 2015
Aldo Musacchio, Emilio Pineda and Gustavo Garcia
Brandeis University- International Business School, Inter-American Development Bank (IDB) and Inter-American Development Bank (IDB)

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State-owned enterprises, privatization, state reform, Latin America, corporate governance, fiscal decentralization

27.

Iceland (A)

HBS Case No. 709-011, Harvard Business School BGIE Unit
Posted: 01 Sep 2010
Aldo Musacchio
Brandeis University- International Business School

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28.

Indian Railways: Building a Permanent Legacy?

HBS Case No. 710-008, Harvard Business School BGIE Unit
Posted: 31 Aug 2010
Tarun Khanna, Aldo Musacchio and Rachna Tahilyani
Harvard University - Strategy Unit, Brandeis University- International Business School and Harvard Business School, India Research Center

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29.

Vale: Global Expansion in the Challenging World of Mining

HBS Case No. 710-054, Harvard Business School BGIE Unit
Posted: 31 Aug 2010
Harvard University - Strategy Unit, Brandeis University- International Business School and Harvard Business School

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30.

Mexico: Crisis and Competitiveness

HBS Case No. 710-058, Harvard Business School BGIE Unit
Posted: 26 Aug 2010
Brandeis University- International Business School, Harvard University - Business, Government and the International Economy Unit and Harvard Business School

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31.

Laws Versus Contracts: Shareholder Protections and Ownership Concentration in Brazil, 1890-1950

Business History Review, Vol. 82, No. 3
Posted: 24 Nov 2008
Aldo Musacchio
Brandeis University- International Business School

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brazil, corporate law, investor protections, shareholder protection