Showing 1 - 10 of 223
Persistent link: https://www.econbiz.de/10003282759
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10003818743
Persistent link: https://www.econbiz.de/10003849495
This paper aims to explain the large premium paid on common (voting) shares relative to preferred (non-voting) shares in the Russian stock market. Empirical analysis focuses on two main explanations relating the premium either to the voting right attached to common shares or to differences in...
Persistent link: https://www.econbiz.de/10003440052
The paper examines the labour quality explanation of the employer sizewage gap: larger firms pay higher wages because they employ more skilled workers. Most previous studies control for unobserved skills of workers using longitudinal data and the fixed effects estimator thus relying on a...
Persistent link: https://www.econbiz.de/10003440056
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10003932236
The paper tests for the existence of human capital externalities, more precisely those stemming from higher education, using a micro-level approach: the Mincerian wage regression augmented with the average level of education in a local geographical area (city). To solve identification problems...
Persistent link: https://www.econbiz.de/10003381999
This paper presents and discusses new data on employment protection legislation (EPL) in the successor states of the former USSR - the CIS and Baltic states - over 25 years from 1985 to 2009. We use the OECD methodology (OECD EPL, version II) for assessing the strictness of national labor laws...
Persistent link: https://www.econbiz.de/10009312896
Persistent link: https://www.econbiz.de/10010340953
Persistent link: https://www.econbiz.de/10003748105