Showing 1 - 10 of 27
We examine the profitability of cross-ownership in an oligopolistic industry where firms compete as Cournot rivals. We consider a symmetric cross-ownership structure in which a subset of k firms engage in cross-shareholding and each firm has an equal silent financial interest in the other firms,...
Persistent link: https://www.econbiz.de/10012824811
Many societies report an increasingly divergent development of managers’ salaries compared to that of their workforce …. Moreover, there is often a lack in diversity amongst managerial boards. We investigate the role of managers’ gender and … incentive scheme on wages chosen for workers by conducting two experimental studies. The data reveal male managers respond in …
Persistent link: https://www.econbiz.de/10013291321
Large-scale increases in discrimination can lead to dismissals of highly qualified managers. We investigate how … expulsions of senior Jewish managers, due to rising discrimination in Nazi Germany, affected large corporations. Firms that lost … Jewish managers experienced persistent reductions in stock prices, dividends, and returns on assets. Aggregate market value …
Persistent link: https://www.econbiz.de/10013314854
This paper provides a model that can account for the almost uniform staggering of wage contracts in some countries as well as for the markedly nonuniform staggering in others. In the model, short and long contracts as well as long contracts concluded in different periods are strategic...
Persistent link: https://www.econbiz.de/10010270522
We conduct a field experiment where we vary both the presence of a gift exchange wage and the effect of the worker's effort on the manager's payoff. The results indicate a strong complementarity between the initial wage gift and the agent's ability to repay the gift. We collect information on...
Persistent link: https://www.econbiz.de/10010280811
This paper investigates the role of the frequency of price overreactions in the cryptocurrency market in the case of BitCoin over the period 2013-2018. Specifically, it uses a static approach to detect overreactions and then carries out hypothesis testing by means of a variety of statistical...
Persistent link: https://www.econbiz.de/10012892294
Wages grow and become more unequal as workers age. Economic theory focuses on worker investment in human capital …
Persistent link: https://www.econbiz.de/10012897647
In the U.S. real estate market, around 30 percent of listed properties remain unsold. We examine whether unsold property listings exert externalities in the housing market. Our study builds on a comprehensive dataset that encompasses residential property listings in Orange County (California)...
Persistent link: https://www.econbiz.de/10014242006
This paper develops and estimates a dynamic model where individuals differ in ability and location preference to evaluate the mechanisms that affect the evolution of immigrants’ careers in conjunction with their re-migration plans. Our analysis highlights a novel form of selective return...
Persistent link: https://www.econbiz.de/10013229696
We document substantial cross-sectional heterogeneity of German establishments’ real wage cyclicality over the business cycle. While wages of the median establishment are moderately procyclical, 36 percent of establishments have countercyclical wages. We estimate a negative connection between...
Persistent link: https://www.econbiz.de/10013212779