Downward Wage Rigidity, Corporate Investment, and Firm Value

Downward Wage Rigidity, Corporate Investment, and Firm Value

abstract: Firms reduce investment when facing downward wage rigidity (DWR), the inability or unwillingness to adjust wages downward. I construct DWR measures and exploit staggered state-level changes in minimum wage laws as an exogenous variation in DWR to document this fact. Following a minimum wag...

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Bibliographic Details
Other Authors: Cho, DuckKi (Author)
Format: Doctoral Thesis
Language:English
Published: 2017
Subjects:
Finance
Labor economics
Corporate Investment
Downward Wage Rigidity
Minimum Wage Laws
Theory of Second Best
Online Access:http://hdl.handle.net/2286/R.I.43981

Internet

http://hdl.handle.net/2286/R.I.43981

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