Although there is a large literature on the economic effects of minimum wages on labour market outcomes (especially employment), there is hardly any evidence on their impact on firm performance. This is surprising: minimum wages appear to have a significant impact on wages, but only a limited...

During the last years more and more discussions came up about the contribution of technology-oriented and technology-intensive industries for the economic development and employment. This paper examines the foundation dynamic and the regional clustering of various technology-oriented sectors in...

We find that institutional ownership in publicly traded companies is associated with more innovation (measured by cite-weighted patents). To explore the mechanism through which this link arises, we build a model that nests the lazy-manager hypothesis with career-concerns, where institutional...