Search results for "Panel data"
showing 10 items of 172 documents
Upstream Product Market Regulations, ICT, R&D and Productivity
2017
Our study aims to assess the actual importance of the two main channels via which upstream anti-competitive sector regulations are usually considered to impact productivity growth, i.e. by acting as a disincentive to business investments in R&D and in ICT. We estimate the specific impacts of these two channels and their shares in the total impact as opposed to alternative channels of investments in other forms of intangible capital that we cannot explicitly consider for lack of appropriate data such as improvements in skills, management and organization. To achieve this, we specify an extended production function explicitly relating productivity to R&D and ICT capital as well as to upstream…
Selection Correction in Panel Data Models: An Application to Labour Supply and Wages
2000
In recent years a number of panel estimators have been suggested for sample selection models, where both the selection equation and the equation of interest contain individual effects which are correlated with the explanatory variables. We review and compare some of these estimators, and apply them to estimating the return to actual labour market experience for females, using a panel of twelve years. All these estimators rely on the assumption of strict exogeneity of regressors in the equation of interest, conditional on individual specific effects and the selection mechanism. This assumption is likely to be violated in many applications. Also, life history variables are often measured with…
Determinants of Board Size, Composition and Leadership
2018
Using a 14-year panel data set on the Standard and Poor’s 1500 firms, this chapter examines the trends and determinants of corporate board structure (Board size, independence and CEO duality). Our hypotheses lead to predictions that firm complexity and advising requirements, the costs of monitoring and advising, ownership structure and CEO characteristics are important determinants of board structure. Our findings provide strong empirical evidence in support of these hypotheses. We also find some evidence that the Sarbanes–Oxley Act has had an impact on board structure and its determinants.
Risk committee complexity and liquidity risk in the European banking industry
2021
Abstract The present study aims to investigate how bank governance characteristics are related to liquidity risk by analysing board composition, gender, and the risk committee. A dynamic panel data model is employed on a sample of European banks during the period after the financial crisis (from 2011 to 2017). Furthermore, we collect information about the profiles of the directors on the boards of banks, thereby creating five categories of risk committee members. To address the endogeneity issue, a generalised method of moments two-step estimator is implemented. The findings highlight that the fundamental role of the risk committee adequately shields banks against general liquidity risks. M…
The Return-to-Entrepreneurship Puzzle
2013
The returns to entrepreneurship are monetary and non-monetary. We offer new evidence on these returns using a large sample of genetically identical male twins. Our within-twin analysis suggests that OLS estimates are downwards, and traditional first-differenced panel data estimates upwards biased. We find no differences in the earnings of men with either low or high education. Our within-twin analysis of non-monetary returns shows that entrepreneurs with low education work longer hours and have greater responsibilities, but also face a reduced risk of divorce and less monotonous work tasks. The same does not apply to highly educated entrepreneurs.
Technological change and wage premiums: historical evidence from linked employer-employee data
2013
Abstract This study analyses the impacts of a technological change (the steam engine) on wage premiums. Using historical employer–employee panel data, we found that steam technology had both new skill-demanding and skill-replacing aspects. The former manifested itself as an increase in the demand for high-skilled engineers, the latter in a decline in the demand for intermediate-skilled, able-bodied seamen and an increase in the demand for unskilled engine room operators. Our panel data analysis, which controls for unobserved heterogeneity, implies that high-skilled labourers in abstract tasks and unskilled labourers in manual tasks improved their wage positions relative to intermediate-skil…
Internal and External Hiring
2019
Using large-scale, linked, employer–employee, Finnish panel data, the authors examine firms’ internal versus external hiring decisions more comprehensively than has prior literature. The results show that vacancies in job hierarchies are filled more often by horizontal moves than by promotions. Most horizontal moves are external and within the same job functions, so that internally promoted workers face external competitors occupying higher job levels. Compared to internally promoted workers, external and internal horizontal hires have stronger observable ability indicators (e.g., education, experience, prior work history) but weaker job performance in the year preceding the transfer. Inter…
Modeling Heterogeneity in Country-Industry-Year Panel Data: Two Illustrative Econometric Analyses
2017
The macroeconomic empirical literature based on three-dimensional country- industry-year panel data, such as the widely used OECD STAN and EUKLEMS databases, has become extremely abundant, providing more observations for studies previously investigated on two-dimensional country-year panels. However, a large part of this literature does not take advantage of the development of panel data methods to deal with heterogeneity and dynamic and non-stationarity issues. We explain in this chapter how one can put them into practice and circumvent the lack of variability left in the data once one controls for simple and two-way interacted fixed effects in these industry-country-year panels. We illust…
Dynamics of real labour productivity and real compensation in Latvia
2019
Relationship between labour productivity and wages is an important issue not only for economists, but also for policy makers. In the last decades, we have witnessed that in the EU15 wage growth has been lagging productivity growth. At the same time in Latvia, also in some other central and eastern European member states, wages increased more than productivity, rising concerns about disbalance in the economy. However, comparison of wage level and productivity level in Latvia and respective levels in the EU15 shows that wage level in Latvia is much below the EU15 average value in absolute terms, but also in relation to productivity level. To understand whether dissimilarities in wage and prod…
Effects of a Travel Behaviour Change Program on Sustainable Travel
2018
The main objective of the present study is to analyse the effect of a Travel Behaviour Change Program (TBCP) based on health improvement actions, in relation to a potential for an increase in walking and cycling, with reference to particular groups of people defined according to sociodemographics. A TBCP consisting of three persuasion actions based on health improvements was planned and executed in Valencia (Spain). A two-wave panel survey was used to study the effects of taking part in the TBCP. The panel survey collected data related to activity-travel scheduling process before and after the execution of the TBCP. To study the influence of participating in the TBCP, respondents were separ…