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reduces a colleague's marginal cost of effort, and synergy to be the sum of the (unidimensional) influence parameters across a … depends only on total synergy and not individual influence parameters. An increase in synergy raises total effort and total … synergistic agents. An increase in the synergy between two agents can lead to the third agent being excluded from the team, even …
Persistent link: https://www.econbiz.de/10013118246
We derive conditions for when having a “busy” director on the board is harmful to shareholders and when it is beneficial. Our model allows directors to condition their monitoring choices on their co-directors' choices and to experience positive or negative monitoring synergies across firms....
Persistent link: https://www.econbiz.de/10012946482
Venture capital (VC) and growth are examined both empirically and theoretically. Empirically, VC-backed startups have higher early growth rates and initial patent quality than non-VC-backed ones. VC-backing increases a startup's likelihood of reaching the right tails of the firm size and...
Persistent link: https://www.econbiz.de/10012863701
This paper analyzes the effects of income taxation on the international migration and earnings of top earners using a Danish preferential foreigner tax scheme and population-wide Danish administrative data. This scheme, introduced in 1991, allows new immigrants with high earnings to be taxed at...
Persistent link: https://www.econbiz.de/10013085129
We analyze under which conditions intermarriage can be used as an indicator of tolerance, and whether such tolerant attitudes persisted in Germany during the last century. We find strong evidence for the persistence of tolerant attitudes towards intermarriage with Jews. At the same time, our...
Persistent link: https://www.econbiz.de/10013086668
The H-1B program allows skilled foreign-born individuals to work in the United States. The annual quota on new H-1B visa issuances fell from 195,000 to 65,000 for employees of most firms in fiscal year 2004. However, this cap did not apply to new employees of colleges, universities, and...
Persistent link: https://www.econbiz.de/10012946029
Countries that cannot attract foreigners to invest in their local currency bonds run the risk of currency mismatches that can result in painful crises. We analyze foreign participation in the bond markets of over 40 countries. Bond markets in less developed countries have returns characterized...
Persistent link: https://www.econbiz.de/10012760626
We use remarkable population-level administrative education and birth records from Florida to study the role of Long-Term Orientation on the educational attainment of immigrant students living in the US. Controlling for the quality of schools and individual characteristics, students from...
Persistent link: https://www.econbiz.de/10012984751
This paper provides the first systematic analysis of the link between economic, political, and social conditions and the global phenomenon of ISIS foreign fighters. We find that poor economic conditions do not drive participation in ISIS. In contrast, the number of ISIS foreign fighters is...
Persistent link: https://www.econbiz.de/10012993838
Using data on all new admissions to California state prisons in 1986, 1990, and 1996, we find that the foreign born have a very different offense mix from native-born inmates, with foreigners much more likely to be serving time for drug offenses. We document and discuss many of the substantial...
Persistent link: https://www.econbiz.de/10013218514