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Capital Structure and a Firm’s Workforce
Matsa, David A. - 2018
firm's workforce on its capital structure. For instance, high leverage often makes managing labor more difficult by … undermining employees' job security and increasing the need for costly workforce reductions. But firms can also use leverage to … needs and management of their workforce when making financing decisions …
Persistent link: https://www.econbiz.de/10012480777
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How Substitutable Are Workers? Evidence from Worker Deaths
Jäger, Simon; Heining, Jörg - National Bureau of Economic Research - 2022
administrative data from Germany, we analyze 34,000 unexpected worker deaths, which, on average, raise the remaining workers' wages …
Persistent link: https://www.econbiz.de/10013462678
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Outside Purchase Contracts, Human Capital and Firm Capital Structure
Moon, S. Katie - 2014
We examine the impact of outside purchase contracts on firm risk and firm capital structure. We find that firms with more outside purchase contracts have less risky cash flows. Despite these less risky cash flows, firms with these contracts also have less financial leverage especially when they...
Persistent link: https://www.econbiz.de/10012458086
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Employee Costs of Corporate Bankruptcy
Graham, John R. - 2019
An employee's annual earnings fall by 10% the year her firm files for bankruptcy and fall by a cumulative present value of 67% over seven years. This effect is more pronounced in thin labor markets and among small firms that are ultimately liquidated. Compensating wage differentials for this...
Persistent link: https://www.econbiz.de/10012479872
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Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market
Groysberg, Boris - 2007
Our paper contributes to the studies on the relationship between workers' human capital and their decision to become self-employed as well as their probability to survive as entrepreneurs. Analysis from a panel data set of research analysts in investment banks over 1988-1996 reveals that star...
Persistent link: https://www.econbiz.de/10012465006
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Human Capital and Black-White Earnings Gaps, 1966-2017
Thompson, Owen - National Bureau of Economic Research - 2021
This paper estimates the contribution of human capital, measured using both educational attainment and test performance, to the Black-white earnings gap in three separate samples of men spanning 1966 through 2017. There are three main findings. First, the magnitude of reductions in the...
Persistent link: https://www.econbiz.de/10012496140
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Health, Human Capital Formation and Knowledge Production : Two Centuries of International Evidence
Madsen, Jakob - 2012
Recent medical research shows that health is highly influential for learning and the ability to think laterally; however, past economic studies have failed to empirically examine the influence of health on learning, schooling, and ideas production; the main drivers of growth in endogenous growth...
Persistent link: https://www.econbiz.de/10012460199
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Does Input Quality Drive Measured Differences in Firm Productivity?
Fox, Jeremy T. - 2011
Firms in the same industry can differ in measured productivity by multiples of 3. Griliches (1957) suggests one explanation: the quality of inputs differs across firms. We add labor market history variables such as experience and firm and industry tenure, as well as general human capital...
Persistent link: https://www.econbiz.de/10012461805
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Opening the Black Box : Task and Skill Mix and Productivity Dispersion
Blackwood, G. Jacob; Cunningham, Cindy; Dey, Matthew S.; … - National Bureau of Economic Research - 2022
An important gap in most empirical studies of establishment-level productivity is the limited information about workers' characteristics and their tasks. Skill-adjusted labor input measures have been shown to be important for aggregate productivity measurement. Moreover, the theoretical...
Persistent link: https://www.econbiz.de/10013462669
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The Power of Proximity to Coworkers : Training for Tomorrow or Productivity Today?
Emanuel, Natalia; Harrington, Emma; Pallais, Amanda - National Bureau of Economic Research - 2023
Amidst the rise of remote work, we ask: what are the effects of proximity to coworkers? We find being near coworkers has tradeoffs: proximity increases long-run human capital development at the expense of short-term output. We study software engineers at a Fortune 500 firm, whose main campus has...
Persistent link: https://www.econbiz.de/10014437011