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Draca, Mirko; Machin, Stephen; Van Reenen, John - London School of Economics (LSE) - 2006

other aspects of firm behaviour. In this paper we consider the impact of minimum wages on firm profitability by exploiting … firm profitability was significantly reduced (and wages significantly raised) by the minimum wage introduction. This … emerges from separate analyses of two distinct types of firm level panel data (one on firms in a very low wage sector, UK …

Persistent link: https://www.econbiz.de/10010746021

Capital structure, investment, and fire sales

Gale, Douglas; Gottardi, Piero - London School of Economics (LSE) - 2014

We study a dynamic general equilibrium model in which firms choose their investment level and their capital structure, trading off the tax advantages of debt against the risk of costly default. The costs of bankruptcy are endogenously determined, as bankrupt firms are forced to liquidate their...

Persistent link: https://www.econbiz.de/10011170093

Borrow cheap, buy high?: the determinants of leverage and pricing in buyouts

Axelson, Ulf; Jenkinson, Tim; Strömberg, Per; … - London School of Economics (LSE) - 2012

Private equity funds pay particular attention to capital structure when executing leveraged buyouts, creating an interesting setting for examining capital structure theories. Using a large, detailed, international sample of buyouts from 1980-2008, we find that buyout leverage is unrelated to the...

Persistent link: https://www.econbiz.de/10011071252

From fiction to fact: the impact of CEO social networks

Kirchmaier, Thomas; Stathopoulos, Konstantinos - London School of Economics (LSE) - 2008

This paper investigates the relationship between a CEO’s social network, firm identity, and firm performance. There are two competing theories that predict contradictory outcomes. Following social network theory, one would expect a positive relation between social networks and firm...

Persistent link: https://www.econbiz.de/10010884592

New survey evidence on recent changes in UK union recognition

Blanden, Jo; Machin, Stephen; Van Reenen, John - London School of Economics (LSE) - 2005

This paper reports results from a recent survey we conducted on the union status of over 650 firms in the private sector of the UK. Compared to earlier periods, the survey shows that since 1997 there has been a slight fall in derecognition, but a relatively large increase in union recognition....

Persistent link: https://www.econbiz.de/10010884653

Why do management practices differ across firms and countries?

Bloom, Nick; Van Reenen, John - London School of Economics (LSE) - 2010

Economists have long puzzled over the astounding differences in productivity between firms and countries. For example, looking at disaggregated data on U.S. manufacturing industries, Syverson (2004a) found that plants at the 90th percentile produced four times as much as the plant in the 10th...

Persistent link: https://www.econbiz.de/10010745216

Multiple-product firms and product switching

Bernard, Andrew B.; Redding, Stephen; Schott, Peter K. - London School of Economics (LSE) - 2010

This paper examines the frequency, pervasiveness, and determinants of product switching by US manufacturing firms. We find that one-half of firms alter their mix of five-digit SIC products every five years, that product switching is correlated with both firm- and firm-product attributes, and...

Persistent link: https://www.econbiz.de/10010745219

Trade liberalization, outsourcing, and firm productivity

Ossa, Ralph - London School of Economics (LSE) - 2007

Empirical evidence suggests that trade liberalization increases firm productivity. This paper offers a novel explanation for this finding. I develop a simple general equilibrium model of trade in which trade liberalization leads to outsourcing as firms focus on their core competencies in...

Persistent link: https://www.econbiz.de/10010745324

Productivity dispersion, competition and productivity measurement

Martin, Ralf - London School of Economics (LSE) - 2008

A startling fact of firm level productivity analysis is the large and persistent differences in both labour productivity and total factor productivity (TFP) between firms in narrowly defined sectoral classes. The competitiveness of an industry is potentially an important factor explaining this...

Persistent link: https://www.econbiz.de/10010745506

Productivity spreads, market power spreads and trade

Martin, Ralf - London School of Economics (LSE) - 2010

Much of recent Trade theory focuses on heterogeneity of firms and the differential impacttrade policy might have on firms with different levels of productivity. A common problem isthat most firm level dataset do not contain information on output prices of firms which makesit difficult to...

Persistent link: https://www.econbiz.de/10010745877

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