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How Policy Changes Affect Shareholder Wealth: The Case of the Fukushima Daiichi Nuclear Disaster
Betzer, André; Doumet, Markus; Rinne, Ulf - Institute for the Study of Labor (IZA) - 2011
This paper analyzes how policy changes affect shareholder wealth in the context of environmental regulation. We exploit the unique and unexpected German reaction to the Fukushima Daiichi nuclear disaster, which involved the immediate shutdown of almost half of Germany’s nuclear reactors while...
Persistent link: https://www.econbiz.de/10009220619
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Give Me Your Wired and Your Highly Skilled: Measuring the Impact of Immigration Policy on Employers and Shareholders
Lin, Carl - Institute for the Study of Labor (IZA) - 2011
The paper links finance theory to labor economics and political economy in the context of migration and immigration …
Persistent link: https://www.econbiz.de/10009294984
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Decomposing Excess Returns in Stochastic Linear Models
Lin, Carl - Institute for the Study of Labor (IZA) - 2011
We present a theorem helpful in estimating the mean and variance of a linear function with arbitrary multivariate randomness in its coefficients and variables. We derive a generalized decomposition result from two random linear functions in which the result can be applied to most models using...
Persistent link: https://www.econbiz.de/10009403383
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Partisan Impacts on the Economy: Evidence from Prediction Markets and Close Elections
Snowberg, Erik; Wolfers, Justin; Zitzewitz, Eric - Institute for the Study of Labor (IZA) - 2006
Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic indicators caused by clearly exogenous changes in...
Persistent link: https://www.econbiz.de/10005703211
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Diagnosing Discrimination: Stock Returns and CEO Gender
Wolfers, Justin - Institute for the Study of Labor (IZA) - 2006
A vast labor literature has found evidence of a "glass ceiling", whereby women are underrepresented among senior management. A key question remains the extent to which this reflects unobserved differences in productivity, preferences, prejudice, or systematically biased beliefs about the ability...
Persistent link: https://www.econbiz.de/10005762168
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Where Are the Real Bottlenecks? Evidence from 20,000 Firms in 60 Countries about the Shadow Costs of Constraints to Firm Performance
Carlin, Wendy; Schaffer, Mark; Seabright, Paul - Institute for the Study of Labor (IZA) - 2007
We use data from over 20,000 firms in 60 countries to identify constraints on the growth of firms. We interpret managers’ answers to survey questions on the extent to which various aspects of their external environment inhibit the performance of their firm as measuring the shadow cost of...
Persistent link: https://www.econbiz.de/10005763555
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Does Gender Matter for Firm Performance? Evidence from Eastern Europe and Central Asia
Sabarwal, Shwetlena; Terrell, Katherine - Institute for the Study of Labor (IZA) - 2008
Using 2005 firm level data for 26 ECA countries, this paper estimates performance gaps between male- and female-owned businesses, while controlling for their location by industry and country. We find that female entrepreneurs have significantly smaller scale of operations (as measured by sales...
Persistent link: https://www.econbiz.de/10005700969
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Investment Climate and Employment Growth: The Impact of Access to Finance, Corruption and Regulations Across Firms
Pages, Carmen; Aterido, Reyes; Hallward-Driemeier, Mary - Institute for the Study of Labor (IZA) - 2007
Using firm level data on 70,000 enterprises in 107 countries, this paper finds important effects of access to finance … systematically by firm types. Micro and small firms have less access to formal finance, pay more in bribes than do larger firms, and … downward the size distribution of firms. In the case of finance and business regulations this occurs by reducing the employment …
Persistent link: https://www.econbiz.de/10005762082
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Does the Size of the Effect of Adverse Events at High Ages on Daily-Life Physical Functioning Depend on the Economic Conditions Around Birth?
Scholte, Robert; den Berg, Gerard J. van; Lindeboom, Maarten - Institute for the Study of Labor (IZA) - 2014
This paper considers determinants of physical-functional limitations in daily-life activities at high ages. Specifically, we quantify the extent to which the impact of adverse life events on this outcome is larger in case of exposure to adverse economic conditions early in life. Adverse life...
Persistent link: https://www.econbiz.de/10010884074
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Do Business Visits Cause Productivity Growth?
Tani, Massimiliano; Joyeux, Roselyne - Institute for the Study of Labor (IZA) - 2013
The production and diffusion of knowledge have increasingly been seen as potential causes of the observed international differences in total factor productivity and, in turn, as possible sources of economic growth. This paper presents the results of a causality study between business visits and...
Persistent link: https://www.econbiz.de/10010884105