1. LICOS Centre for Institutions and Economic Performance , 3000 KU Leuven , Belgium
2. School of Economics, Utrecht University, School of Economics , Adam Smith Hall, Kriekenpitplein 21-22, 3584 EC Utrecht , the Netherlands
3. Department of Management, Strategy and Innovation , 3000 KU Leuven , Belgium
4. The Europe Center, Stanford University, 94305 CA California , USA