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In this paper, we assess how recent technology advances have changed the way we coordinate. After a brief discussion of the common challenges to effective coordination, we highlight some important implications of technology on addressing informational and behavioral frictions. We focus on discussing the effects of three specific technology developments including artificial intelligence (AI), automation, and blockchain, on the choice of coordination modes. We argue that technology is shifting the boundaries between firms and markets and is opening the door to new research directions.

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This study estimates the effects of wars on countries and firms. We first show immediate negative effects of wars on economic and financial development as well as legal institutions. Using a crosscountry sample of 93,697 firm-year observations, we further argue and show that (i) wars increase the supply of military directors in corporate boards; and (ii) military directors reduce firm performance as measured by Tobin's Q and return on assets (ROA). We interpret these lingering effects as military directors possessing social capital but lacking business expertise. Our results are robust to a matched sample, a lagged difference model, a dynamic general method of moments model and to the control of country, industry and year fixed effects.

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