This paper studies the long-term effect of hedge fund activism on the productivity of target firms using plant-level information from the U.S. Census Bureau. A typical target firm improves its production efficiency in the three years after an activist intervention, and the improvements are most...

This paper analyses the effects of work-related training on worker productivity. To identify the causal effects from training, we combine a field experiment that randomly assigns workers to treatment and control groups with panel data on individual worker performance before and after training....

In the US, corporate restructuring of financial and physical assets as well as work systems has been widespread. Our study examines the inter-relationship between ‘creative' work systems and ‘destructive' markets, using a sample of US manufacturing firms in the metalworking, jet engine...

Using longitudinal matched employer-employee data for the period 1999-2006, we investigate the relationship between age, wage and productivity in the Belgian private sector. More precisely, we examine how changes in the proportions of young (16-29 years), middle-aged (30-49 years) and older...

This paper asks how the performance of self-employed unincorporated businesses affects the size of the gap in labour productivity between Canada and the United States. To do so, the business sector in each country is divided into unincorporated and corporate businesses, and estimates of labour...

This paper aims at analyzing (a) the factors determining the firms' propensity to outsource various processes (b) the impact of outsourcing on firms' innovation performance as well as labour productivity. The integral investigation of the determining factors as well as the impact of outsourcing...

Recent studies report that productivity increases under tournament reward structures than under piece rate reward structures. We conduct maze-solving experiments under both reward structures and reveal that overconfidence is a significant factor in increasing productivity. Specifically, subjects...

We show how the age profile of earnings, retirement rules and retirement behavior are tightly linked through the general equilibrium of the economy. Generous Social Security benefits financed by large Social Security taxes discourage human capital accumulation. In Social Security systems where...

This paper explores the interaction between retirement flexibility and portfolio choice in an overlapping - generations model. We analyze this interaction both in a partial - equilibrium and general - equilibrium setting. Retirement flexibility is often seen as a hedge against capital - market...

This paper explores the interaction between retirement flexibility and portfolio choice in an overlapping-generations model. We analyse this interaction both in a partial-equilibrium and general-equilibrium setting. Retirement exibility is often seen as a hedge against capital-market risks which...