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The Great Reversals: The Politics of Financial Development in the 20th Century

Rajan, Raghuram G; Zingales, Luigi - C.E.P.R. Discussion Papers - 2001

We show that the development of the financial sector does not change monotonically over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and only recently have they surpassed their 1913 levels. This pattern is inconsistent with...

Persistent link: https://www.econbiz.de/10005504599

A Multi-Task Principal-Agent Approach to Organizational Form

Besanko, David; Régibeau, Pierre; Rockett, Katharine - C.E.P.R. Discussion Papers - 2000

This paper studies the choice of organizational forms in a multi-task principal-agent model. We compare a functional organization in which the firm is organized into functional departments such as marketing and R&D to a product-based organization in which the firm is organized into product...

Persistent link: https://www.econbiz.de/10005789163

Disruptive Technologies and the Emergence of Competition

Adner, Ron; Zemsky, Peter - C.E.P.R. Discussion Papers - 2003

We formalize the phenomenon of disruptive technologies (Christensen, 1997) that initially serve isolated market niches and, as they mature, expand to displace established technologies from mainstream segments. Using a model of horizontal and vertical differentiation with discrete customer...

Persistent link: https://www.econbiz.de/10005791327

The Impact of Horizontal Mergers on Rivals: Gains to Being Left Outside a Merger

Clougherty, Joseph A.; Duso, Tomaso - C.E.P.R. Discussion Papers - 2008

It is commonly perceived that firms do not want to be outsiders to a merger between competitor firms. We instead argue that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert-identification of relevant rivals and the event-study...

Persistent link: https://www.econbiz.de/10005123810

Who Gets Over the Training Hurdle? A Study of the Training Experiences of Young Men and Women in Britain

Arulampalam, Wiji; Booth, Alison L - C.E.P.R. Discussion Papers - 1996

the determinants of work-related training. The analysis covers a crucial decade in the working lives of the 1958 birth … the number of work-related training events lasting at least three days. This approach takes into account the fact that … more than one-half of the men and two-thirds of the women in the sample experienced no work-related training lasting three …

Persistent link: https://www.econbiz.de/10005504728

Class Size, Education and Wages

Dustmann, Christian; Rajah, Najma; van Soest, Arthur - C.E.P.R. Discussion Papers - 2002

This Paper examines the effects of class size on the decision to stay on in full time schooling at the age of 16 and on wages at later stages in life. Little research exists on the effect of school quality on career decisions, although it has potentially important long-term implications. We use...

Persistent link: https://www.econbiz.de/10005498143

Effective Active Labour Market Policies

Boone, Jan; Ours, Jan C van - C.E.P.R. Discussion Papers - 2004

empirical analysis we use data on 20 OECD countries covering the time period 1985-99. We find that labour market training is the …

Persistent link: https://www.econbiz.de/10005498201

Minimum Wage Legislation, Work Conditions and Employment

De Fraja, Gianni - C.E.P.R. Discussion Papers - 1996

minimum wage. The paper concludes by showing that if employers can change investment in fixed capital and in training, then an …

Persistent link: https://www.econbiz.de/10005656136

How Much Does the UK Invest in Intangible Assets?

Giorgio Marrano, Mauro; Haskel, Jonathan - C.E.P.R. Discussion Papers - 2007

development etc.), about 14% on branding, about 20% on training and the rest on organisational capital. …

Persistent link: https://www.econbiz.de/10005656338

Estimating the Return to Training and Occupational Experience: The Case of Female Immigrants

Cohen-Goldner, Sarit; Eckstein, Zvi - C.E.P.R. Discussion Papers - 2004

Do government provided training programmes benefit the participants and the society? We address this question in the … training. Although theoretically training may have several outcomes, most evaluations have focused on only one outcome of … training: the expected wage. Training might have no direct effect on wage, however, but it affects employment probability in …

Persistent link: https://www.econbiz.de/10005661563