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Unions and Firms' Investments : A Unified View

Berton, Fabio - 2019

In this paper, we present a simple model in which a unionized and non-unionized firm optimally make investment decisions given their labor productivity. By allowing workers' organizations to have positive effects on labor effort, we find that the classic hold-up problem does not necessarily...

Persistent link: https://www.econbiz.de/10012864858

Willingness to Take Risk : The Role of Risk Conception and Optimism

Dohmen, Thomas J. - 2018

We show that the disposition to focus on favorable or unfavorable outcomes of risky situations affects willingness to take risk as measured by the general risk question. We demonstrate that this disposition, which we call risk conception, is strongly associated with optimism, a stable facet of...

Persistent link: https://www.econbiz.de/10012915178

Managers' Risk Preferences and Firm Training Investments

Caliendo, Marco; Cobb-Clark, Deborah A.; Pfeifer, Harald; … - 2022

We provide the first estimates of the impact of managers' risk preferences on their training allocation decisions. Our conceptual framework links managers' risk preferences to firms' training decisions through the bonuses they expect to receive. Risk-averse managers are expected to select...

Persistent link: https://www.econbiz.de/10013405955

Belief Elicitation in Experiments : Is There a Hedging Problem?

Blanco, Mariana; Engelmann, Dirk; Koch, Alexander K.; … - 2021

existing belief elicitation results, (ii) can we avoid potential hedging confounds? Our results instill confidence regarding … both issues. We propose an experimental design that eliminates hedging opportunities, and use this to test for the … empirical relevance of hedging effects in the lab. We find no evidence for hedging, comparing the standard "hedging …

Persistent link: https://www.econbiz.de/10013325138

Rent-Sharing, Hold-Up, and Wages : Evidence from Matched Panel Data

Card, David - 2011

It is widely believed that rent-sharing reduces the incentives for investment when long term contracts are infeasible because some of the returns to sunk capital are captured by workers. We propose a simple test for the degree of hold-up based on the fraction of capital costs that are deducted...

Persistent link: https://www.econbiz.de/10013118528

Frictions and the Joint Behavior of Hiring and Investment

Yashiv, Eran - 2012

The decisions of firms on investment and hiring play a crucial role in business cycle fluctuations. This paper explores their dynamic behavior in the presence of frictions. It does so within a unified framework, stressing their mutual dependence and placing the emphasis on their joint,...

Persistent link: https://www.econbiz.de/10013104684

Who Lives in the C-Suite? Organizational Structure and the Division of Labor in Top Management

Guadalupe, Maria - 2012

This paper shows that top management structures in large US firms radically changed since the mid-1980s. While the number of managers reporting directly to the CEO doubled, the growth was driven primarily by functional managers rather than general managers. Using panel data on senior management...

Persistent link: https://www.econbiz.de/10013104934

The Radical Innovation Investment Decision Refined

Bilkic, Natasa - 2013

We refine modelling of the radical innovation decision in this paper by extending real option theory to include non …

Persistent link: https://www.econbiz.de/10013083098

Real Estate Prices and Corporate Investment : Theory and Evidence of Heterogeneous Effects Across Firms

Fougère, Denis - 2018

In this paper, we investigate the effect of real estate prices on productive investment. We build a simple theoretical framework of firms' investment with credit rationing and real estate collateral. We show that real estate prices affect firms' borrowing capacities through two channels.An...

Persistent link: https://www.econbiz.de/10012906468

How Does the Minimum Wage Affect Firm Investments in Fixed and Human Capital? Evidence from China

Haepp, Tobias - 2016

This paper empirically analyzes the impact of Chinese minimum wage regulations on the firm decision to invest in physical and human capital. We exploit the geographical and inter-temporal variations of county-level minimum wages in a panel data set of all state-owned and all above-scale...

Persistent link: https://www.econbiz.de/10012979850

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