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Investment and Finance in De Novo Private Firms: Empiracal Results from the Czech Republic, Hungary and Poland
Bratkowski, Andrzej; Grosfeld, Irena; Rostowski, Jacek - William Davidson Institute, University of Michigan - 1999
capital markets in Central European economies do not seem to actually inhibit the growth of Central European transition … transition economies studied, but they provide quite a large amount of financing and do so from a remarkably early stage of the …
Persistent link: https://www.econbiz.de/10005677689
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CONTRACT VIOLATIONS, NEIGHBORHOOD EFFECTS, AND WAGE ARREARS IN RUSSIA
Earle, John S.; Peter, Klara Sabirianova - William Davidson Institute, University of Michigan - 2004
We present a model of neighborhood effects in wage payment delays. Positive feedback arises because each employer’s arrears affect the late payment costs faced by other firms in the same local labor market, resulting in a strategic complementarity in the practice. The model is estimated on...
Persistent link: https://www.econbiz.de/10005784666
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Microeconometric Evidence of Financing Frictions and Innovative Activity
Tiwari, Amaresh K.; Mohnen, Pierre; Palm, Franz; Loeff, … - CESifo - 2014
Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics, and R&D slows down. In the absence of financial...
Persistent link: https://www.econbiz.de/10010743448
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Drivers and Obstacles to Banking SMEs: The Role of Competition and the Institutional Framework
Torre, Augusto de la; Pería, María Soledad Martínez; … - CESifo - 2009
Small and medium enterprises (SMEs) are important for employment and economic activity; however, they are perceived to …
Persistent link: https://www.econbiz.de/10004979421
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The Volatility Curse: Revisiting the Paradox of Plenty
Ploeg, Frederick Van der; Poelhekke, Steven - CESifo - 2009
The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling for initial income per capita, population growth, human capital, investment, openness and natural resource dependence. This effect is significant and robust over a wide range of...
Persistent link: https://www.econbiz.de/10005000394
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CEO Compensation
Frydman, Carola; Jenter, Dirk - CESifo - 2010
This paper surveys the recent literature on CEO compensation. The rapid rise in CEO pay over the past 30 years has sparked an intense debate about the nature of the pay-setting process. Many view the high level of CEO compensation as the result of powerful managers setting their own pay. Others...
Persistent link: https://www.econbiz.de/10008799732
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WHILE LABOUR HOARDING MAY BE OVER, INSIDERS’ CONTROL IS NOT. DETERMINANTS OF EMPLOYMENT GROWTH IN POLISH LARGE FIRMS, 1996-2001.
Bishop, Kate; Mickiewicz, Tomasz - William Davidson Institute, University of Michigan - 2003
. Furthermore, unlike the early transition period, we can confirm that employment adjusts to positive sales growth, not just to …This paper examines the determinants of employment changes using a panel of Polish large firms during the period 1996 …-2001. We investigate the impact of wages, output growth, investment, firm size and sectors upon employment, focusing on the …
Persistent link: https://www.econbiz.de/10005489887
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Ownership and Employment in Russian Industry: 1992-1995
Linz, Susan - William Davidson Institute, University of Michigan - 1998
, Northern and Western Siberian regions of Russia, this paper examines the hypotheses that in the first stage of the transition … process (1) Russian industry exhibited a low labor elasticity, and (2) employment changes were highly correlated with … ownership structure. The first section summarizes what we know about output and employment patterns in Russian industry between …
Persistent link: https://www.econbiz.de/10005652629
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Firm Performance, Financial Institutions and Corporate Governance in the Netherlands
Chirinko, Robert S.; Ees, Hans van; Garretsen, Harry; … - CESifo - 1999
This paper analyses the impact of share ownership, creditorship and networking by financial institutions on the performance of 94 Dutch non-financial firms in the period 1992-1996. We find a nonlinear relationship between firm performance and ownership by banks. Because of various defense...
Persistent link: https://www.econbiz.de/10005766022
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Subprime Crisis and Board (In-)Competence: Private vs. Public Banks in Germany
Hau, Harald; Thum, Marcel - CESifo - 2009
We examine evidence for a systematic underperformance of Germany’s state-owned banks in the current financial crisis and study if the bank losses can be traced to the quality of bank governance. For this purpose, we examine the biographical background of 593 supervisory board members in the 29...
Persistent link: https://www.econbiz.de/10005051557