Instructors are a chief input into the higher education production process, yet we know very little about their role in promoting student success. This is in contrast to elementary and secondary schooling, for which ample evidence suggests teacher quality is an important determinant of student...

This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech manufacturing industries. The model incorporates a measure of the firm's financial strength, derived from...

A growing theoretical and empirical literature shows that public recognition can lead employees to exert greater effort. However, status competition is also associated with excessive expenditure on status goods, greater likelihood of bankruptcy, and more risk taking by money managers. This paper...