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Ownership and Pay in Britain
Pendleton, Andrew - 2015
Drawing on principal-agent perspectives on corporate governance, this paper examines whether employees' hourly pay is linked to ownership dispersion. Using linked workplace-worker data from the British Workplace Employment Relations Survey (WERS) 2011, we find average hourly pay is higher in...
Persistent link: https://www.econbiz.de/10013016270
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The Likelihood of Divorce and the Riskiness of Financial Decisions
Stark, Oded - 2019
stronger distaste for low relative wealth translates into reduced relative risk aversion and, consequently, into riskier … prone to divorce exhibit risk-taking behavior that is more similar to that of single men than married men in environments …
Persistent link: https://www.econbiz.de/10012864857
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Uncertainty Shocks and Unemployment Dynamics
2020
Recent events suggest that uncertainty changes play a major role in U.S. labor market fluctuations. This study analyzes the impact of uncertainty shocks on unemployment dynamics. Using a vector autoregression approach, we show that uncertainty shocks measured by stock market volatility have a...
Persistent link: https://www.econbiz.de/10012829214
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Modeling Life-Cycle Earnings Risk with Positive and Negative Shocks
Sanchez Garcia, Manuel - 2017
We study workers' idiosyncratic earnings risk over the life-cycle using a German administrative data set. Positive and … incomplete markets model. Moreover, age-varying risk implies a linear increase in consumption inequality late in working life …
Persistent link: https://www.econbiz.de/10012948657
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Willingness to Take Risk : The Role of Risk Conception and Optimism
Dohmen, Thomas J. - 2018
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 personality and that it predicts real-life risk taking. The general risk … question captures this disposition alongside pure risk preference. This enlightens why the general risk question is a better …
Persistent link: https://www.econbiz.de/10012915178
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The Interdependence of R&D Activity andDebt Financing of Young Firms
Fryges, Helmut; Kohn, Karsten; Ullrich, Katrin - Forschungsinstitut zur Zukunft der Arbeit <Bonn> - 2011
We investigate the interdependence of debt financing and R&D activities of young firms.Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firmcharacteristics are more important than personal characteristics of the founders for explainingyoung firms’...
Persistent link: https://www.econbiz.de/10009486988
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Impact of Financial Crises on Dynamics of Capital Structure : Evidence from Korean Listed Companies
Tsoy, Lyubov - 2017
This study examines the impact of 1997 Asian and 2008 Global financial crises on the capital structure of Korean listed companies. Using a data set covering 1,159 Korean listed non-financial firms from 10 industrial sectors over period 1985-2015, the pattern of firms' capital structure before...
Persistent link: https://www.econbiz.de/10012962289
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Excess Leverage and Productivity Growth in Emerging Economies : Is There a Threshold Effect?
Coricelli, Fabrizio - 2010
The paper examines the relationship between leverage and growth in a group of emerging central and eastern European countries, who are at different levels of financial market development. We hypothesize a non-linear relationship in that moderate leverage could boost growth while very high...
Persistent link: https://www.econbiz.de/10013146463
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Convergence in Institutions and Market Outcomes : Cross-Country and Time-Series Evidence from the BEEPS Surveys in Transition Economies
Mitra, Pradeep; Muravyev, Alexander; Schaffer, Mark E. - 2021
This paper uses the BEEPS firm-level data to study the process of convergence of transition countries with developed market economies. The primary focus of the study is on competition and market structure, finance and the structure of lending to firms, and how firms respond to the economic...
Persistent link: https://www.econbiz.de/10013324752
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The Interdependence of R&D Activity and Debt Financing of Young Firms
Fryges, Helmut - 2011
We investigate the interdependence of debt financing and R&D activities of young firms. Using micro-level data of the KfW/ZEW Start-up Panel, our estimation results show that firm characteristics are more important than personal characteristics of the founders for explaining young firms'...
Persistent link: https://www.econbiz.de/10013117119