Using data from the National Employer Survey (NES), this study examines the relationship between wages and on-the-job training. Traditional theory argues that workers may finance onthe- job human capital accumulation through lower wages. A binding minimum wage may, therefore, reduce workplace...

This paper seeks to improve on previous estimates of the impact of immigration on native wages by using an occupational segmentation approach that directly controls for regional migration and other shifts in native-born labor supply. The labor market is segmented by occupation in order to...

We study the role of banking relationships in IPO underwriting. Among other issues, we consider whether banking relationships lead to increased access to public equity markets, especially for smaller, lesserknown firms. When a firm in Japan goes public, it can engage an investment bank that is...

We study corporate philanthropy using an original database that includes firm-level data on dollar giving, giving priorities, governance, and managerial involvement in giving programs. Results provide some support for the theory that giving enhances shareholder value, as firms in the same...

Previous work found the racial composition of NBA teams to be positively correlated with the racial composition of their metropolitan markets in the 1980s.We find continued evidence of this relationship during the 1990s, with accompanying revenue gains from the inclusion of White players on...

Previous studies, using data from the 1980s, found that racial composition of NBA teams is positively correlated with racial composition of the metropolitan markets in which the teams are located. Researchers have interpreted this evidence as consistent with a customer discrimination hypothesis....

We study the role of banking relationships in IPO underwriting. Among other issues, we consider whether banking relationships lead to increased access to public equity markets, especially for smaller, lesserknown firms. When a firm in Japan goes public, it can engage an investment bank that is...

Many college and university 403(b) plans restrict the menu of investment choices to funds offered by TIAA-CREF, the current manager of over half of all 403(b) contributions. Further, in the face of Internal Revenue Code changes that will take effect in 2006 and will make 403(b) plan ERISA...