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Does Management Matter in Schools
Bloom, Nicholas - 2014
outcomes. The UK, Sweden, Canada and the US obtain the highest management scores closely followed by Germany, with a gap to …We collect data on operations, targets and human resources management practices in over 1,800 schools educating 15-year …-olds in eight countries. Overall, we show that higher management quality is strongly associated with better educational …
Persistent link: https://www.econbiz.de/10012457998
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Sources of Firm Life-Cycle Dynamics : Differentiating Size vs. Age Effects
Kueng, Lorenz - 2014
-cycle patterns for firm growth. These theories include organizational capital accumulation and management practices, financial … organization and innovation. Second, among theories we analyze, organizational capital and management practices are the most …
Persistent link: https://www.econbiz.de/10012458044
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Financial Risk Capacity
Bigio, Saki - 2019
Financial crises are particularly severe and lengthy when banks fail to recapitalize after bearing large losses. We present a model that explains the slow recovery of bank capital and economic activity. Banks provide intermediation in markets with information asymmetries. Large equity losses...
Persistent link: https://www.econbiz.de/10012480505
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The Cross-Section of Hurdle Rates for Capital Budgeting : An Empirical Analysis of Survey Data
Jagannathan, Ravi - 2011
Whereas Poterba and Summers (1995) find that firms use hurdle rates that are unrelated to their CAPM betas, Graham and Harvey (2001) find that 74% of their survey firms use the CAPM for capital budgeting. We provide an explanation for these two apparently contradictory conclusions. We find that...
Persistent link: https://www.econbiz.de/10012461887
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Borrow Cheap, Buy High? The Determinants of Leverage and Pricing in Buyouts
Axelson, Ulf - 2010
on the financing of 1157 worldwide private equity deals from 1980 to 2008. Buyout leverage is cross-sectionally unrelated … availability of financing impacts booms and busts in the private equity market, and that agency problems between private equity …
Persistent link: https://www.econbiz.de/10012462699
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Credit within the firm
Pistaferri, Luigi - 2010
We exploit time variation in the degree of development of local credit markets and matched employer-employee data to assess the role of the firm as an internal credit market. In less developed local credit markets firms can offer a flatter wage-tenure profile than firms in more developed credit...
Persistent link: https://www.econbiz.de/10012462727
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Decoupling and Recoupling
Korinek, Anton - 2010
We develop a stylized model that captures the phenomena of decoupling and recoupling in an environment where heterogeneous entrepreneurial sectors face financial constraints in their relationship with a common set of lenders. In response to adverse shocks, a financially constrained sector must...
Persistent link: https://www.econbiz.de/10012462744
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Household Leverage and the Recession of 2007 to 2009
Mian, Atif R. - 2010
We show that household leverage as of 2006 is a powerful statistical predictor of the severity of the 2007 to 2009 recession across U.S. counties. Counties in the U.S. that experienced a large increase in household leverage from 2002 to 2006 showed a sharp relative decline in durable consumption...
Persistent link: https://www.econbiz.de/10012462755
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Corporate Bond Default Risk : A 150-Year Perspective
Giesecke, Kay - 2010
We study corporate bond default rates using an extensive new data set spanning the 1866-2008 period. We find that the corporate bond market has repeatedly suffered clustered default events much worse than those experienced during the Great Depression. For example, during the railroad crisis of...
Persistent link: https://www.econbiz.de/10012462804
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The Consequences of Entrepreneurial Finance : A Regression Discontinuity Analysis
Kerr, William R. - 2010
access to additional financing. Overall, the results suggest that the bundle of inputs that angel investors provide have a …
Persistent link: https://www.econbiz.de/10012462820