Showing 1 - 10 of 259
In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...
Persistent link: https://www.econbiz.de/10011083991
We study the impact of directors with foreign experience on firms in emerging markets. To establish causality, we use a unique dataset from China and exploit that at different times, Chinese provinces introduced policies to attract highly talented emigrants. These policies led to an exogenous...
Persistent link: https://www.econbiz.de/10011084604
finding, we describe a model of multi-trait matching and inheritance, in which individuals’ attractiveness in the marriage …
Persistent link: https://www.econbiz.de/10009320404
less than their labor income). Applying this simple theoretical model to a unique micro data set on inheritance and …
Persistent link: https://www.econbiz.de/10009643507
This paper attempts to document and account for the long run evolution of inheritance. We find that in a country like … France the annual flow of inheritance was about 20%-25% of national income between 1820 and 1910, down to less than 5% in … 1950, and back up to about 15% by 2010. A simple theoretical model of wealth accumulation, growth and inheritance can fully …
Persistent link: https://www.econbiz.de/10008468507
Feedback mechanisms are the key to sequencing when it comes to regional integration. Feedback mechanisms can mean that today’s policy or institution alters the political economy landscape in a way that makes it politically optimal for future governments to take further steps towards...
Persistent link: https://www.econbiz.de/10008468652
inheritance' is important for economic outcomes, then rare surnames should predict economic outcomes in the cross-section. This is … develop a model that articulates this idea and shows that the more important is inheritance, the more informative will be …
Persistent link: https://www.econbiz.de/10005124146
inheritance rules (partition vs. primogeniture). After controlling for economic, institutional, religious, and cultural factors … inheritance. We also find that only the effect of inheritance rules persists over the 1971-2001 period. …
Persistent link: https://www.econbiz.de/10011083675
This paper derives optimal inheritance tax formulas that (a) capture the key equity-efficiency trade-off, (b) are … but realistic linear or two-bracket tax structures to obtain tractable formulas. We show that long-run optimal inheritance …-Becker dynastic model. In all cases, the optimal inheritance tax rate increases with the concentration of bequest received and …
Persistent link: https://www.econbiz.de/10011083680
This paper investigates the importance of accessing public capital markets through an initial public offering (IPO), and the consequent relaxation of firms’ financial constraints, for firm-level long term employment decisions. We find that firms significantly increase post-IPO investment in...
Persistent link: https://www.econbiz.de/10011249379