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The American population is aging and changes in the population's age structure are leading to an aging of the nation's workforce. In addition, changes to age specific participation rates are exacerbating the aging of the national labor force. An important challenge for firms and organizations is...
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We exploit demographic variation to identify the effect of dividend demand on corporate payout policy. Retail investors tend to hold local stocks and older investors prefer dividend-paying stocks. Together, these tendencies generate geographically-varying demand for dividends. Firms...
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We exploit a unique combination of administrative sources and survey data to study the match between firms and managers. The data includes manager characteristics, such as risk aversion and talent; firm characteristics, such as ownership; detailed measures of managerial practices relative to...
Persistent link: https://www.econbiz.de/10012461966
We develop a model of internal governance where the self-serving actions of top management are limited by the potential …
Persistent link: https://www.econbiz.de/10012463081
We use an innovative methodology to measure management practices in over 300 manufacturing firms in the UK. We then … match this management data to production and energy usage information for establishments owned by these firms. We find that … relation to other factor inputs. This is quantitatively substantial: going from the 25th to the 75th percentile of management …
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