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Investor protection and the value of shares : evidence from statutory rules governing variations of shareholders’ class rights in Russia
Muravyev, Alexander - 2009
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10003932236
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Top incomes in Canada : evidence from the Census
Lemieux, Thomas; Riddell, William Craig - 2015
This paper looks at the evolution of incomes at the top of the distribution in Canada. Master files of the Canadian … groups driving the growth in top incomes in Canada. A finding more specific to Canada is that the oil and gas sector has also … revolution, scientists, engineers and even computer scientists do not account for much of the growth in top incomes in Canada. …
Persistent link: https://www.econbiz.de/10010528875
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Partisan impacts on the economy : evidence from prediction markets and close elections
Snowberg, Erik (contributor); Wolfers, Justin (contributor);  … - 2006
Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic indicators caused by clearly exogenous changes in...
Persistent link: https://www.econbiz.de/10003289884
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Not so lucky any more : CEO compensation in financially distressed firms
Kang, Qiang (contributor); Mitnik, Oscar A. (contributor) - 2008
There is a debate on whether executive pay reflects rent extraction due to "managerial power" or is the result of arms-length bargaining in a principal-agent framework. In this paper we offer a test of the managerial power hypothesis by empirically examining the CEO compensation of U.S. public...
Persistent link: https://www.econbiz.de/10003779098
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Globalised labour markets? : international rent sharing across 47 countries
Martins, Pedro S.; Yang, Yong - 2010
We present evidence about the role of rent sharing in fostering the interdependence of labour markets around the world. Our results draw on a firm-level panel of more than 2,000 multinationals and more than 5,000 of their affiliates, covering 47 home and host countries. We find considerable...
Persistent link: https://www.econbiz.de/10009155580
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Corruption, networking and foreign ownership : recent evidence from CEE countries
Pal, Sarmistha - 2013
The present paper argues that the effect of corruption on foreign ownership is not necessarily linear and depends on the level of host corruption. So long as the expected returns from foreign investments exceed its expected costs, higher host corruption will be associated with higher foreign...
Persistent link: https://www.econbiz.de/10010195528
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Wages and international rent sharing in multinational firms
Budd, John W.; Konings, Jozef; Slaughter, Matthew J. - 2002
We use a unique firm-level panel data set of multinational parents and their foreign affiliates to analyze whether profits are shared across borders within multinational firms. Using both fixed-effects and generalized method-of-moments estimators, affiliate wage levels are estimated to respond...
Persistent link: https://www.econbiz.de/10001701401
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Catalyzing gender equality : foreign MNC subsidiaries as agents of change in mitigating wage discrimination against women
Kaiser, Ulrich; Grimpe, Christoph; Sofka, Wolfgang - 2023
Wage discrimination against women remains a major obstacle to fair economic opportunities for women and a grand challenge constraining economic growth in many countries. Existing research is ambivalent about whether foreign MNC subsidiaries as employers of women offer a solution to this grand...
Persistent link: https://www.econbiz.de/10014423719
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Taxes, cigarette consumption, and smoking intensity : reply
Adda, Jérôme; Cornaglia, Francesca - 2012
This paper shows that smoking intensity, i.e. the amount of nicotine extracted per cigarette smoked, responds to changes in excise taxes and tobacco prices. We exploit data covering the period 1988 to 2006 across many US states. Moreover, we provide new evidence on the importance of cotinine...
Persistent link: https://www.econbiz.de/10009558968
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Trade, wages, and productivity
Behrens, Kristian; Mion, Giordano; Murata, Yasusada; … - 2008
Canada-U.S. interregional trade data, we first estimate a system of theory-based gravity equations under the general … quantify the impacts of removing the Canada-U.S. border on wages, productivity, markups, the share of exporters, the mass of …
Persistent link: https://www.econbiz.de/10003755333