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Increasing evidence indicates the importance of management in determining firms' productivity. Yet, causal evidence … regarding the effectiveness of management practices is scarce, especially for high-skilled workers in the developed world. In an … management practices: (i) performance monitoring; (ii) performance feedback; (iii) target setting; and (iv) pro-social incentives …
Persistent link: https://www.econbiz.de/10012891317
We examine peer effects in early education by estimating value added models with school fixed effects that control extensively for individual, family, peer, and teacher characteristics to account for the endogeneity of peer group formation. We find statistically significant and robust spillover...
Persistent link: https://www.econbiz.de/10012758460
example, an increase of trust in management that is about one tenth of the scale is equivalent to more than 30% increase in …
Persistent link: https://www.econbiz.de/10012765570
Despite the importance placed on supervision in the workplace, little is known about the effects of a boss' leadership … region, high SAT, and undergraduate institution as their bosses who also have strong leadership qualities retain at the …
Persistent link: https://www.econbiz.de/10012987143
The sustained rise in German unemployment since 1973 poses a problem of critical importance for the world economy. Fewer than two decades ago, Germany boasted an average unemployment rate of under 1% and imported labor to relieve chronic labor shortages. By the mid-1980s, unemployment had risen...
Persistent link: https://www.econbiz.de/10013247007
Mutual fund managers can outperform the market by picking stocks or timing the market successfully. Previous work has estimated picking and timing skill, assuming that each manager is endowed with a fixed amount of each and found some evidence of picking skills and little evidence of timing...
Persistent link: https://www.econbiz.de/10013118131
This paper studies optimal policy in a business-cycle setting in which firms have a blurry understanding of the state of the economy due to informational or cognitive constraints. The latter are not only the source of nominal rigidity but also an impediment in the coordination of production. The...
Persistent link: https://www.econbiz.de/10013118850
We survey the theory and evidence of behavioral corporate finance, which generally takes one of two approaches. The … on their decisions. We review relevant psychology, economic theory and predictions, empirical challenges, empirical …
Persistent link: https://www.econbiz.de/10013121051
We study the interplay of share prices and firm decisions when share prices aggregate and convey noisy information about fundamentals to investors and managers. First, we show that the informational feedback between the firm's share price and its investment decisions leads to a systematic...
Persistent link: https://www.econbiz.de/10013121056
By reducing the threat of a hostile takeover, business combination (BC) laws weaken corporate governance and increase the opportunity for managerial slack. Consistent with the notion that competition mitigates managerial slack, we find that while firms in non-competitive industries experience a...
Persistent link: https://www.econbiz.de/10012757546