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Intangible Investment and Firm Performance
Chappell, Nathan - 2018
investment and firm performance. We find that firm size and moderate competition is associated with higher intangible investment …, while firm age is associated with lower intangible investment. Examining firm performance, we find that higher investment is … not with higher productivity or profitability. The evidence suggests that intangible investment is associated with growth …
Persistent link: https://www.econbiz.de/10012925908
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The Unofficial Economy and Economic Development
La Porta, Rafael - 2010
In developing countries, informal firms (those that are not registered with the government) account for about half of all economic activity. We consider three broad views of the role of such firms in economic development. According to the romantic view, these firms would become the engine of...
Persistent link: https://www.econbiz.de/10013138466
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Bank Size, Reputation, and Debt Renegotiation
Fernández, Raquel - 2011
This paper examines the effect that the coexistence of small and large banks, with different interests in the international market, has on the debt renegotiation process. Making use of a reputational model, we argue that the presence of small banks implies that debtor countries have a harder...
Persistent link: https://www.econbiz.de/10013124691
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CEO Pay and Firm Size : An Update after the Crisis
Gabaix, Xavier - 2013
In the "size of stakes" view quantitatively formalized in Gabaix and Landier (2008), CEO compensation is determined in a competitive talent market, and reflects the size of firms affected by talent. This paper offers an empirical update on this view. The years 2004-2011, which include the recent...
Persistent link: https://www.econbiz.de/10013081260
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Finance : Function Matters, Not Size
Cochrane, John H. - 2013
I address the controversy over whether the financial services industry is "too big." We should be asking whether the finance industry is functioning properly instead. The facts suggest that demand for financial services increased, perhaps temporarily, rather than suggesting a changing distortion...
Persistent link: https://www.econbiz.de/10013083800
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Firm Size Distortions and the Productivity Distribution : Evidence from France
Garicano, Luis - 2014
We show how size-contingent laws can be used to identify the equilibrium and welfare effects of labor regulation. Our framework incorporates such regulations into the Lucas (1978) model and applies this to France where many labor laws start to bind on firms with exactly 50 or more employees....
Persistent link: https://www.econbiz.de/10013064453
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Size-Dependent Regulations, Firm Size Distribution, and Reallocation
Gourio, Francois - 2014
In France, firms with 50 employees or more face substantially more regulation than firms with less than 50. As a result, the size distribution of firms is visibly distorted: there are many firms with exactly 49 employees. We model the regulation as the combination of a sunk cost that must be...
Persistent link: https://www.econbiz.de/10013064826
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Measuring the Dynamics of Young and Small Businesses : Integrating the Employer and Nonemployer Universes
Davis, Steven J. - 2014
We develop a preliminary version of an Integrated Longitudinal Business Database (ILBD) that combines administrative records and survey data for all employer and nonemployer business units in the United States. Unlike other large-scale business databases, the ILBD tracks business transitions...
Persistent link: https://www.econbiz.de/10013065623
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The Slow Growth of New Plants : Learning About Demand?
Foster, Lucia - 2014
It is well known that new businesses are typically much smaller than their established industry competitors, and that this size gap closes slowly. We show that even in commodity-like product markets, these patterns do not reflect productivity gaps, but rather differences in demand-side...
Persistent link: https://www.econbiz.de/10013066598
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The Dynamics of Firm Lobbying
Kerr, William - 2014
We study the determinants of the dynamics of firm lobbying behavior using a panel data set covering 1998-2006. Our data exhibit three striking facts: (i) few firms lobby, (ii) lobbying status is strongly associated with firm size, and (iii) lobbying status is highly persistent over time....
Persistent link: https://www.econbiz.de/10013067182