Showing 1 - 10 of 985
We use unique data on employee decisions in the employee stock purchase plans (ESPPs) of U.S. public firms to measure the influence of networks on investment decisions. Comparing only employees within a firm during the same election window and controlling for a metro area fixed effect, we find...
Persistent link: https://www.econbiz.de/10012453655
In 1997, France T‚l‚com, the state-owned French telephone company, went through a partial privatization. The government offered current and prior France T‚l‚com employees the opportunity to buy portfolios of shares with various combinations of discounts, required holding periods,...
Persistent link: https://www.econbiz.de/10012471078
Persistent link: https://www.econbiz.de/10003871072
Some analysts view risk as the Achilles Heel of employee ownership and to some extent variable pay plans such as profit sharing and gainsharing. Workers in such "shared capitalist" firms may invest too much of their wealth in the firm, contrary to the principle of diversification. This paper...
Persistent link: https://www.econbiz.de/10012464375
This paper examines how shared capitalism compensation systems - those that link employee pay to company performance - affect diverse employee outcomes. It uses two data sets: the national GSS survey that provides a broad representative view of the extent of the programs; and the NBER Shared...
Persistent link: https://www.econbiz.de/10012464410
This study empirically investigates the value employees place on stock options using information from the option exercise behavior of individuals. Employees hold options for another period if the value from holding them and reserving the right to exercise them later is higher than the value of...
Persistent link: https://www.econbiz.de/10012466721
In this paper, we empirically assess the causal links between trade and individual income risk and study the role that … human capital plays in this relationship using a rich, worker-level, longitudinal data set from Germany spanning 1976 to … and the linkage between trade and risk: While, on average, individuals with higher levels of industry- or occupation …
Persistent link: https://www.econbiz.de/10012794639
trade specific assets or during specific hours contributes to explain our results. Digital nudges and the device screen size …
Persistent link: https://www.econbiz.de/10012482581
We document a housing portfolio channel of quantitative easing (QE) transmission exploiting variation in German household data in a difference-in-differences setting around QE adoption in 2015. We find that QE encourages households with larger initial bond positions to rebalance more toward...
Persistent link: https://www.econbiz.de/10014512065
This paper studies green investing in a quantitative asset pricing model with heterogeneous investors calibrated using high-quality, representative survey data of German households. We find substantial heterogeneity in green taste for both safe and risky green assets throughout the wealth...
Persistent link: https://www.econbiz.de/10014576644