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Preference for the Workplace, Human Capital, and Gender
Wiswall, Matthew - 2016
with sets of job offers that vary in their attributes (such as earnings and job hours flexibility) and asked to state their … probabilistic choices. We show that this method robustly identifies preferences for various job attributes, free from omitted … (lower hours, and part-time option availability) and job stability (lower risk of job loss), and men have a higher …
Persistent link: https://www.econbiz.de/10012456502
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Agglomeration Economies and Race Specific Spillovers
Ananat, Elizabeth Oltmans; Fu, Shihe; Ross, Stephen L. - National Bureau of Economic Research - 2021
Racial social isolation within and across workplaces may reduce firm productivity. We provide descriptive evidence that African-Americans feel socially isolated from Whites. To test whether isolation affects productivity, we estimate models of Total Factor Productivity for manufacturing firms...
Persistent link: https://www.econbiz.de/10012533396
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Workplace Heterogeneity and the Rise of West German Wage Inequality
Card, David - 2012
We study the role of establishment-specific wage premiums in generating recent increases in West German wage inequality. Models with additive fixed effects for workers and establishments are fit in four distinct time intervals spanning the period 1985-2009. Unlike standard wage models,...
Persistent link: https://www.econbiz.de/10012460138
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Augmenting the Human Capital Earnings Equation with Measures of Where People Work
Barth, Erling - 2016
We augment standard ln earnings equations with variables reflecting unmeasured attributes of workers and measured and unmeasured attributes of their employer. Using panel employee-establishment data for US manufacturing we find that the observable employer characteristics that most impact...
Persistent link: https://www.econbiz.de/10012456167
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Capital and Labor Reallocation Inside Firms
Giroud, Xavier - 2012
We document how a plant-specific shock to investment opportunities at one plant of a firm ("treated plant") spills over to other plants of the same firm--but only if the firm is financially constrained. While the shock triggers an increase in investment and employment at the treated plant, this...
Persistent link: https://www.econbiz.de/10012460069
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Investor Protection and Corporate Valuation
Porta, Rafael La - 1999
We present a model of the effects of legal protection of minority shareholders and of cash flow ownership by a controlling shareholder on the valuation of firms. We then test this model using a sample of 371 large firms from 27 wealthy economies. Consistent with the model, we find evidence of...
Persistent link: https://www.econbiz.de/10012471382
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Innovation and Market Value
Hall, Bronwyn H. - 1999
Recent research on financial market valuation of the knowledge assets of publicly traded firms is surveyed. The motivation for using a market value equation to price knowledge assets is discussed and the theory behind this equation is briefly presented. Then the empirical literature that relates...
Persistent link: https://www.econbiz.de/10012471824
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Both Sides of Corporate Diversification : The Value Impacts of Geographic and Industrial Diversification
Bodnar, Gordon M. - 1997
This paper examines the effect of geographic and industrial diversification on firm value for a sample of over 20,000 firm-year observations of U.S. corporations from 1987-1993. Our" multivariate tests indicate the average value of a firm with international operations is 2.2% higher than...
Persistent link: https://www.econbiz.de/10012472587
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A Clinical Exploration of Value Creation and Destruction in Acquisitions : Organizational Design, Incentives, and Internal Capital Markets
Kaplan, Steven N. - 1997
This paper presents clinically-based studies of two acquisitions that received very different stock market reactions at announcement one positive and one negative. Despite the differing market reactions, we find that ultimately neither acquisition created value overall. In exploring the reasons...
Persistent link: https://www.econbiz.de/10012472819
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The Effects of Industry Structure on Economic Exposure
Marston, Richard C. - 1996
A firm is subject to `economic exposure' if changes in exchange rates affect the firm's value, as measured by the present value of its future cash flows. This paper shows that in many forms of competition, including the most commonly studied case of monopoly, the economic exposure of an...
Persistent link: https://www.econbiz.de/10012473341