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Exponential Growth Bias and Financial Literacy
Almenberg, Johan; Gerdes, Christer - Institut zur Zukunft der Arbeit <Bonn> - 2011
The tendency to underestimate the future value of a variable growing at a constant rate, anexample of exponential growth bias, has been linked to household financial decision making.We show that exponential growth bias and standard measures of financial literacy arenegatively correlated in a...
Persistent link: https://www.econbiz.de/10009353904
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Job Creation by Firms in Denmark
Ibsen, Rikke; Westergård-Nielsen, Niels C. - Institut zur Zukunft der Arbeit <Bonn> - 2011
In this paper we will look at job creation and destruction in firms. We will answer the questionif it is the large companies that create jobs, while the smaller companies are contributingmuch less. Or is it the young companies that create jobs? And who destroys the most jobs?In the crisis...
Persistent link: https://www.econbiz.de/10009360550
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Returns for Entrepreneurs vs. Employees: The Effectof Education and Personal Control on the RelativePerformance of Entrepreneurs vs. Wage Employees
Praag, Mirjam van; Witteloostuijn, Arjen van; Sluis, … - Institut zur Zukunft der Arbeit <Bonn> - 2009
How valuable is education for entrepreneurs’ performance as compared to employees’?What might explain any differences …? And does education affect peoples’ occupationalchoices accordingly? We answer these questions based on a large panel of US … labor forceparticipants. We show that education affects peoples’ decisions to become an entrepreneurnegatively. We show …
Persistent link: https://www.econbiz.de/10009360612
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The Effect of Product Market Competition onJob Instability
Aparicio Fenoll, Ainhoa - Institut zur Zukunft der Arbeit <Bonn> - 2011
This paper assesses the impact of product market competition on job instability as proxied bythe use of fixed-term labor contracts. Using both worker data from the Spanish Labor ForceSurvey and firm data from the Spanish Business Strategies Survey, I show that job instabilityrises with...
Persistent link: https://www.econbiz.de/10009360527
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Design and Implementation of Pay for Performance
Gibbs, Michael - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2012
A large, mature and robust economic literature on pay for performance now exists, whichprovides a useful framework for thinking about pay for performance systems. I use thelessons of the literature to discuss how to design and implement pay for performance inpractice....
Persistent link: https://www.econbiz.de/10009486962
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Deception and Incentives:How Dishonesty Undermines Effort Provision
Ederer, Florian; Fehr, Ernst - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
In this paper we show that subtle forms of deceit undermine the effectiveness of incentives.We design an experiment in which the principal has an interest in underreporting the trueperformance difference between the agents in a dynamic tournament...
Persistent link: https://www.econbiz.de/10005861196
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The Value Relevance of Top Executive Departures:Evidence from the Netherlands
Cools, Kees; Praag, Mirjam van - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
On theoretical grounds, monitoring of top executives by the (supervisory) board is expectedto be value relevant. The empirical evidence is ambiguous and we analyze three noncompetingexplanations for this ambiguity: (i) The positive effect on firm value of boardmonitoring is hidden in stock price...
Persistent link: https://www.econbiz.de/10005861853
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Job Assignments under Moral Hazard:The Peter Principle Revisited
Koch, Alexander Karl; Nafziger, Julia - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2007
The Peter Principle captures two stylized facts about hierarchies: first, promotions often placeemployees into jobs for which they are less well suited than for that previously held. Second,demotions are extremely rare...
Persistent link: https://www.econbiz.de/10005862318
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How Do Industries and Firms Respond toChanges in Local Labor Supply?
Dustmann, Christian; Glitz, Albrecht - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2011
In this paper, we investigate how changes in the skill mix of local labor supply are absorbedby the economy. We distinguish between three adjustment mechanisms: through factorprices, through an expansion in the size of those production units that use the moreabundant skill group more...
Persistent link: https://www.econbiz.de/10009486973
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Corporate R&D and Firm Effi ciency:Evidence from Europe’s Top R&D Investors
Kumbhakar, Subal; Ortega-Argilés, Raquel; Potters, Lesley - Institut zur Zukunft der Arbeit <Bonn> - 2009
The main objective of this study is to investigate the impact of corporate R&D activities onfirms’ performance, measured by labour productivity. To this end, the stochastic frontiertechnique is applied, basing the analysis on a unique unbalanced longitudinal datasetconsisting of 532 top...
Persistent link: https://www.econbiz.de/10009360610