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We use plant-level data from the US Census of Manufacturers to study the short and long run effects of temperature on manufacturing activity. We document that temperature shocks significantly increase energy costs and lower the productivity of small manufacturing plants, while large plants are...
Persistent link: https://www.econbiz.de/10014337767
Researchers typically invoke theoretical assumptions to estimate mark-ups. Instead, we directly obtain mark-ups by surveying Pakistani soccer-ball producers. We document six facts: (1) Mark-ups are more dispersed than costs; (2) Mark-ups and costs increase with firm size; (3) The mark-up...
Persistent link: https://www.econbiz.de/10012457798
's prediction that small firms may be unable to access liquidity when large shocks arrive using data on drawdowns in the COVID … large firms on pre-committed lines of credit. Differences in demand for liquidity cannot fully explain the differences in … and 125 percent of the amount of their PPP funds, suggesting that government-sponsored liquidity can overcome private …
Persistent link: https://www.econbiz.de/10012482165
We present evidence on the cyclical behavior of small versus large manufacturing firms, and on the response of the two classes of firms to monetary policy. Our goal is to take a step toward quantifying the role of credit market imperfections in the business cycle and in the monetary transmission...
Persistent link: https://www.econbiz.de/10012475095
opposite direction from that of dividend changes, and larger changes in volatility come with larger announcement returns. We …
Persistent link: https://www.econbiz.de/10012453476
affect the profitability, stock returns, and R&D spending of EU and U.S. firms. Compared to EU firms, U.S. firms are more …
Persistent link: https://www.econbiz.de/10012465985
"This paper analyzes job flows in a sample of 16 industrial and emerging economies over the past decade, exploiting a harmonized firm-level dataset. It shows that industry and firm size effects (and especially firm size) account for a large fraction in the overall variability in job flows....
Persistent link: https://www.econbiz.de/10010521324
A fundamental problem entrepreneurs face in the formative stages of their businesses is how to provide incentives for employees to protect, rather than steal, the source of organizational rents. We study how the entrepreneur's response to this problem will determine the organization's internal...
Persistent link: https://www.econbiz.de/10012471229
From a sample of 910 U.S. firms over the period 1977 1996, we find that structure of the empirical model has significant impacts on resulting estimates of exchange rate exposures from equity returns. While lengthening the return horizon has minimal impact on exposure estimates, the inclusion of...
Persistent link: https://www.econbiz.de/10012471279
Using a unique database on all Japanese manufacturing plants in the United States, we examine the relationship between plant size and growth for these foreign-owned plants. These plants average sizes are three times larger than comparable U.S. plants and experienced 30 percent growth from 1987...
Persistent link: https://www.econbiz.de/10012471515