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unbiased informative ranking. The existence of the ranking might affect the welfare of all consumers negatively. With rigid … prices, the ranking induced change in demand can be detrimental to all consumers in markets featuring rationing or … consumption externalities. With perfectly flexible prices, the ranking might increase firms' market power, and hence lead to …
Persistent link: https://www.econbiz.de/10013024517
This paper evaluates whether the relative concentration of funding for small, research-oriented firms in a small number of high-tech industries is related to the differences across industries in the level of appropriability or capital constraints facing small firms. To do so, we exploit a novel...
Persistent link: https://www.econbiz.de/10013293706
Christoph Rose provides a broader differentiation of the perspective on family-owned companies. In contrast to several studies that merely discuss family-owned companies and non-family companies, his analysis is based on family influence, so the dominating heterogeneity of family-owned companies...
Persistent link: https://www.econbiz.de/10012396230
Identification of three key topics and research gaps in the literature on VBM in Mittelstand -- Framework for the evaluation of the role of VBM in Mittelstand -- Use of management tools in strategic decision-making -- Specific objectives and nuances in the overall target course -- Understanding...
Persistent link: https://www.econbiz.de/10012399184
Persistent link: https://www.econbiz.de/10012156539
Small and medium-sized firms are a prevalent organizational form in Germany. Their importance for the German economy is indisputable. Most of them are global market leaders in their niches and are considered to be a force for innovation in the German economy. The ability to be innovative in...
Persistent link: https://www.econbiz.de/10014016451
Persistent link: https://www.econbiz.de/10011696322
Investors rebalance their portfolios as their views about expected returns and risk change. We use empirical measures of portfolio rebalancing to back out investors' views, specifically their views about the state of the economy. We show that aggregate portfolio rebalancing across equity sectors...
Persistent link: https://www.econbiz.de/10013135882
We document the consequences of real exchange rate movements for the employment, hours, and hourly earnings of workers in manufacturing industries across individual states. Exchange rates have statistically significant wage and employment implications in these local labor markets. The importance...
Persistent link: https://www.econbiz.de/10013137198
We develop a neoclassical trade model with heterogeneous factors of production. We consider a world with two factors, labor and "managers", each with a distribution of ability levels. Production combines a manager of some type with a group of workers. The output of a unit depends on the types of...
Persistent link: https://www.econbiz.de/10013074651