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This paper examines the impact of unionization on profit- ability, growth and productivity using time series data on … negative union effects on profitability, but growth, productivity and the capital-labor ratio appear to be little affected by … may have longer term implications for efficiency since the impact on profitability appears to fall most heavily on firms …
Persistent link: https://www.econbiz.de/10012478115
operating profit of capital, I extend the model to include measurement error and analyze the cash-flow coefficient in …
Persistent link: https://www.econbiz.de/10012457120
This paper evaluates various explanations for the profitability of momentum strategies documented in Jegadeesh and …
Persistent link: https://www.econbiz.de/10012471628
The farm household model, in which decisions about production and consumption are made simultaneously, lies at the heart of many models of development. Empirically modelling these simultaneous choices is not straightforward. The vast majority of empirical studies assume that farm households...
Persistent link: https://www.econbiz.de/10012479160
The purpose of this paper is to treat scale economies, profit-maximizing markups, economic profitability, capacity … run profit potential from markup behavior. As a result, on average economic profits are normal, but declining … profitability is prevalent in most industries since the early 1970s. Also, although cost and revenue shares tend to be approximately …
Persistent link: https://www.econbiz.de/10012475678
estimated. Using the full rainfall distribution and our profit function estimates, we find that Indian farmers on average under … expected profits. Farmers who use skilled forecasts have increased average profit levels but also have more variable profits …
Persistent link: https://www.econbiz.de/10012459327
Contrary to the central predictions of signaling models, changes in profits do not empirically follow changes in dividends, and firms with the least need to signal pay the bulk of dividends. We show both theoretically and empirically that dividends signal safer, rather than higher, future...
Persistent link: https://www.econbiz.de/10012453476
We show that Tobin's q, as proxied by the ratio of the firm's market value to its book value, increases with the firm's systematic equity risk and falls with the firm's unsystematic equity risk. Further, an increase in the firm's total equity risk is associated with a fall in q. The negative...
Persistent link: https://www.econbiz.de/10012470942
Population growth has declined markedly in almost all major economies since the 1970s. We argue this trend has important consequences for the process of firm dynamics and aggregate growth. We study a rich semi-endogenous growth model of firm dynamics, and show analytically that a decline in...
Persistent link: https://www.econbiz.de/10012660102
Anticipated dividend tax changes, on the other hand, allow firms to engage in inter-temporal tax arbitrage so as to reduce investors' tax burden. This can significantly distort aggregate investment. Anticipated tax cuts (increases) delay (accelerate) firms' dividend payments, which leads them to...
Persistent link: https://www.econbiz.de/10012464789