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Does the Profit Motive Make Jack Nimble? Ownership Form and the Evolution of the U.S. Hospital Industry
Chakravarty, Sujoy - 2005
We examine the evolving structure of the U.S. hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding...
Persistent link: https://www.econbiz.de/10012466967
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Do Nontraded Goods Explain the Home Bias Puzzle?
Pesenti, Paolo - 1996
domestic shares under full diversification. When stock-market data are directly used, the predicted coefficient of home bias …
Persistent link: https://www.econbiz.de/10012473049
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Industrial De-Diversification and its Consequences for Productivity
Lichtenberg, Frank R. - 1990
diversification declined significantly during the second half of the decade. The mean number of industries in which firms operated … operated. using plant-level Census Bureau data, we show that productivity is inversely related to the degree of diversification …, the lower the productivity of its plants. Hence de-diversification is one of the means by which recent takeovers have …
Persistent link: https://www.econbiz.de/10012475806
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Is There a Diversification Discount in Financial Conglomerates?
Laeven, Luc - 2005
influences their market valuations. We find that there is a diversification discount: The market …not sufficiently large to produce a diversification premium …
Persistent link: https://www.econbiz.de/10012467179
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Vintage Organization Capital
Jovanovic, Boyan - 2001
We study 114 years of U.S. stock market data and find That there are large cohort effects in stock prices, effects that we label 'organization capital,' That cohort effects grew at a rate of 1.75% per year, That the debt-equity ratio of all vintages declined, That three big technological waves...
Persistent link: https://www.econbiz.de/10012470560
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Export Entry and Exit by German Firms
Bernard, Andrew B. - 1998
This paper examines the decision to enter the export market by German firms. While exports have played an important role in recent German business cycle movements, little is known about the export supply response of German firms. This paper presents a dynamic model of the export decision by a...
Persistent link: https://www.econbiz.de/10012472269
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Survival of the Fittest or the Fattest? Exit and Financing in the Trucking Industry
Zingales, Luigi - 1997
This paper studies the impact that capital market imperfections have on the natural" selection of the most efficient firms by estimating the effect of the pre-deregulation level of" leverage on the survival of trucking firms after the Carter deregulation. Highly leveraged" carriers are less...
Persistent link: https://www.econbiz.de/10012472539
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Entry and Exit, Product Variety and the Business Cycle
Chatterjee, Satyajit - 1993
We study the stochastic behavior of a dynamic general equilibrium model with monopolistic competition. Each seller sells his product in the consumption goods as well as the investment goods market and has market power in both. Consumers derive utility from a CES aggregate of all the consumption...
Persistent link: https://www.econbiz.de/10012474378
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Frictions in a Competitive, Regulated Market : Evidence from Taxis
Fréchette, Guillaume R. - 2018
This paper presents a dynamic general equilibrium model of a taxi market. The model is estimated using data from New York City yellow cabs. Two salient features by which most taxi markets deviate from the efficient market ideal are, first, matching frictions created by the need for both market...
Persistent link: https://www.econbiz.de/10012480576
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How Much of Barrier to Entry is Occupational Licensing?
Blair, Peter Q. - 2018
We exploit state variation in licensing laws to study the effect of licensing on occupational choice using a boundary discontinuity design. We find that licensing reduces equilibrium labor supply by an average of 17%-27%. The negative labor supply effects of licensing appear to be strongest for...
Persistent link: https://www.econbiz.de/10012480913