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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

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 policy. Most research treating the impact of immigration has focused on the consequences for employees as measured by wages, earnings, and employment. Less is known about the...

Persistent link: https://www.econbiz.de/10009294984

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

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

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

Age and Gender Composition of the Workforce, Productivity and Profits: Evidence from a New Type of Data for German Enterprises

Pfeifer, Christian; Wagner, Joachim - Institute for the Study of Labor (IZA) - 2012

and gender) and its performance (productivity and profitability) for a large representative sample of enterprises from …' profitability, which is consistent with deferred compensation considerations. Moreover, our analysis reveals for the first time that … with a lower level of profitability in these firms. If anything, profitability is (slightly) higher in firms with a larger …

Persistent link: https://www.econbiz.de/10009652531

Human Capital Spillovers and Economic Performance in the Workplace in 2004: Some British Evidence

Metcalfe, Renuka; Sloane, Peter J. - Institute for the Study of Labor (IZA) - 2007

This paper considers the impact of education and training on both individual and co-worker pay and establishment performance using the matched employer-employee data in WERS 2004, the panel dataset 1998-2004 and the new Financial Performance Questionnaire. This enables us to assess the impact of...

Persistent link: https://www.econbiz.de/10005822352

Exports and Profitability: First Evidence for German Manufacturing Firms

Fryges, Helmut; Wagner, Joachim - Institute for the Study of Labor (IZA) - 2008

Germany, this paper presents the first comprehensive evidence on the relationship between exports and profitability. It … documents that the positive profitability differential of exporters compared to non-exporters is statistically significant …. Instead, we use a newly developed continuous treatment approach and show that exporting improves the profitability almost over …

Persistent link: https://www.econbiz.de/10005763866

Female Hires and the Success of Start-up Firms

Weber, Andrea; Zulehner, Christine - Institute for the Study of Labor (IZA) - 2009

In this paper we investigate the relationship between females among the first hires of start-up companies and business success. Our results show that firms with female first hires have a higher share of female workers at the end of the first year after entry. Further, we find that firms with...

Persistent link: https://www.econbiz.de/10008549998

Competition and Gender Prejudice: Are Discriminatory Employers Doomed to Fail?

Weber, Andrea; Zulehner, Christine - Institute for the Study of Labor (IZA) - 2009

According to Becker's (1957) famous theory on discrimination, entrepreneurs with a strong prejudice against female workers forgo profits by submitting to their tastes. In a competitive market their firms lack efficiency and are therefore forced to leave. We present new empirical evidence for...

Persistent link: https://www.econbiz.de/10008527306