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The Effect of (Mostly Unskilled) Immigration on the Innovation of Italian Regions

Bratti, Massimiliano; Conti, Chiara - Institute for the Study of Labor (IZA) - 2014

We use small Italian regions (i.e. provinces) to investigate the causal effect of foreign immigration on innovation … immigrants did not have any effect on innovation. However, decomposing the overall effect into the contributions of low- and high … applications by about 0.2%. By contrast, the impact of high-skilled immigrants on innovation is positive, in line with the previous …

Persistent link: https://www.econbiz.de/10010884112

Legal Corruption, Politically Connected Corporate Governance and Firm Performance

Domadenik, Polona; Prašnikar, Janez; Svejnar, Jan - Institute for the Study of Labor (IZA) - 2014

In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...

Persistent link: https://www.econbiz.de/10010884312

Say Pays! Shareholder Voice and Firm Performance

Cuñat, Vicente; Giné, Mireia; Guadalupe, Maria - Institute for the Study of Labor (IZA) - 2014

This paper estimates the effects of Say-on-Pay (SoP); a policy that increases shareholder "voice" by providing shareholders with a regular vote on executive pay. We apply a regression discontinuity design to the votes on shareholder-sponsored SoP proposals. Adopting SoP leads to large increases...

Persistent link: https://www.econbiz.de/10010959767

What Explains the Rise in CEO Pay in Germany? A Panel Data Analysis for 1977-2009

Fabbri, Francesca; Marin, Dalia - Institute for the Study of Labor (IZA) - 2012

The compensation of executive board members in Germany has become a highly controversial topic since Vodafone’s hostile takeover of Mannesmann in 2000 and it is again in the spotlight since the outbreak of the financial crisis of 2009. Based on unique panel data evidence of the 500 largest...

Persistent link: https://www.econbiz.de/10011279348

The Value Relevance of Top Executive Departures: Evidence from the Netherlands

Praag, Mirjam van; Cools, Kees - Institute for the Study of Labor (IZA) - 2007

executive directors, also without a successor appointment, are value relevant in the Netherlands where external control … mechanisms and shareholder control were virtually absent in the period studied (1991-2000). …

Persistent link: https://www.econbiz.de/10005762239

Social Networks in the Boardroom

Kramarz, Francis; Thesmar, David - Institute for the Study of Labor (IZA) - 2006

This paper provides empirical evidence consistent with the facts that (1) social networks may strongly affect board composition and (2) social networks may be detrimental to corporate governance. Our empirical investigation relies on a unique dataset on executives and outside directors of...

Persistent link: https://www.econbiz.de/10005703530

Rhineland Exit?

Bovenberg, Lans; Teulings, Coen - Institute for the Study of Labor (IZA) - 2008

employs them but from the value of their own human capital. In such a world, global trade in corporate control, global …

Persistent link: https://www.econbiz.de/10005822066

Retained State Shareholding in Chinese PLCs: Does Government Ownership Reduce Corporate Value?

Tian, Lihui; Estrin, Saul - Institute for the Study of Labor (IZA) - 2005

The role of government shareholding in corporate performance is central to an understanding of China’s newly privatized large firms. In this paper, we analyze shareholders as agents that can both harm and benefit companies. We examine the ownership structure of 826 listed corporations and find...

Persistent link: https://www.econbiz.de/10005822452

Executive Compensation, Firm Performance, and Chaebols in Korea: Evidence from New Panel Data

Kato, Takao; Kim, Woochan; Lee, Ju Ho - Institute for the Study of Labor (IZA) - 2005

This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...

Persistent link: https://www.econbiz.de/10005822774

Firm Performance and Managerial Turnover: The Case of Ukraine

Muravyev, Alexander; Talavera, Oleksandr; Bilyk, Olga; … - Institute for the Study of Labor (IZA) - 2009

The paper studies whether and how CEO turnover in Ukrainian firms is related to their performance. Based on a novel dataset covering Ukrainian joint stock companies in 2002-2006, the paper finds statistically significant negative association between the past performance of firms measured by...

Persistent link: https://www.econbiz.de/10005103255

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