Narrow search
Showing 1 - 10 of 472
Cover Image
Sources of Firm Life-Cycle Dynamics: Differentiating Size vs. Age Effects
Kueng, Lorenz; Yang, Mu-Jeung; Hong, Bryan - National Bureau of Economic Research (NBER) - 2014
What determines firm growth over the life-cycle? Exploiting unique firm panel data on internal organization, balance sheets and innovation, representative of the entire Canadian economy, we study recent theories that examine life-cycle patterns for firm growth. These theories include...
Persistent link: https://www.econbiz.de/10010951103
Cover Image
Healthcare Exceptionalism? Productivity and Allocation in the U.S. Healthcare Sector
Chandra, Amitabh; Syverson, Chad; Finkelstein, Amy; … - National Bureau of Economic Research (NBER) - 2013
The conventional wisdom in health economics is that large differences in average productivity across hospitals are the result of idiosyncratic, institutional features of the healthcare sector which dull the role of market forces. Strikingly, however, we find that productivity dispersion in heart...
Persistent link: https://www.econbiz.de/10010951009
Cover Image
Business Strategy and the Management of Firms
Yang, Mu-Jeung; Kueng, Lorenz; Hong, Bryan - National Bureau of Economic Research (NBER) - 2015
over time, and even after controlling for unobserved profit shocks exploiting intermediates utilization. Results are … business opportunities vs. exploitation of existing profit sources. …
Persistent link: https://www.econbiz.de/10011123643
Cover Image
Private Equity, Jobs, and Productivity
Davis, Steven; Haltiwanger, John; Jarmin, Ron S.; … - National Bureau of Economic Research (NBER) - 2013
Private equity critics claim that leveraged buyouts bring huge job losses and few gains in operating performance. To evaluate these claims, we construct and analyze a new dataset that covers U.S. buyouts from 1980 to 2005. We track 3,200 target firms and their 150,000 establishments before and...
Persistent link: https://www.econbiz.de/10011095622
Cover Image
Production, Financial Structure and Productivity Growth in U.S. Manufacturing
Bernstein, Jeffrey I.; Nadiri, M. Ishaq - National Bureau of Economic Research (NBER) - 1993
, profitability, and productivity growth. Asymmetric information generates agency costs of debt and signaling benefits of dividends … benefits are measured by their effects on profitability. A one percent increase in debt reduces variable profit by 0.04 percent …, while a one percent increase in dividends raises variable profit by 0.12 percent. Agency costs also limit the adjustment of …
Persistent link: https://www.econbiz.de/10005714927
Cover Image
The market value of patents and R&D: Evidence from European firms
Hall, Bronwyn H; Thoma, Grid L. D.; Torrisi, Salvatore - National Bureau of Economic Research (NBER) - 2007
This paper provides novel empirical evidence on the private value of patents and R&D in European firms during the period 1991-2004. We explore the relationship between firm's stock market value, patents, and "quality"-weighted patents issued by the European Patent Office (EPO) and the US Patent...
Persistent link: https://www.econbiz.de/10005829911
Cover Image
The Twilight Zone: OTC Regulatory Regimes and Market Quality
Leuz, Christian; Brüggemann, Ulf; Kaul, Aditya; … - National Bureau of Economic Research (NBER) - 2013
We analyze a comprehensive sample of more than 10,000 U.S. stocks in the OTC market. As little is known about this market, we first characterize OTC firms by trading venue and provide evidence on survival, success, frequency of venue changes, reporting status, and trading activity. A large...
Persistent link: https://www.econbiz.de/10010969441
Cover Image
Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?
Merrill, Craig B.; Nadauld, Taylor D.; Stulz, René M.; … - National Bureau of Economic Research (NBER) - 2012
Much attention has been paid to the large decreases in value of non-agency residential mortgage-backed securities (RMBS) during the financial crisis. Many observers have argued that the fall in prices was partly driven by decreased liquidity and fire sales. We investigate whether capital...
Persistent link: https://www.econbiz.de/10010950851
Cover Image
A Theory of Income Smoothing When Insiders Know More Than Outsiders
Acharya, Viral V.; Lambrecht, Bart M. - National Bureau of Economic Research (NBER) - 2011
We consider a setting in which insiders have information about income that outside shareholders do not, but property rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent with outsiders' expectations based on publicly...
Persistent link: https://www.econbiz.de/10009395472
Cover Image
Using Tax Return Data to Simulate Corporate Marginal Tax Rates
Graham, John R.; Mills, Lillian F. - National Bureau of Economic Research (NBER) - 2007
We document that simulated corporate marginal tax rates based on financial statement data (Shevlin 1990 and Graham 1996a) are highly correlated with simulated rates based on corporate tax return data. We provide algorithms that can be used to estimate the book or tax simulated rates when they...
Persistent link: https://www.econbiz.de/10005830902