Sources of Earnings Dispersion
نویسندگان
چکیده
We estimate a standard human capital earnings model, augmented to allow for different firmspecific wage premia. The earnings of an individual depend on her human capital bundle and the earnings mark-up of the firm she is currently working for. We use linked employer-employee data from Norway which allows us to directly estimate the skill premium as a function of firm specific variables such as plant size, the capital/labour ratio, market share, unionisation and openness to trade. We document the impact of job reallocation and skill sorting on earnings dispersion. We find a large potential effect of labour reallocation on earnings dispersion. JEL Classification: J23, J31, J63.
منابع مشابه
رابطه بین کیفیت سود (پراکندگی سود) و بازده سهام
در این مطالعه، رابطه بین پراکندگی سود و بازده سهام در بورس اوراق بهادار تهران بررسی شده است. هدف اصلی این پژوهش بررسی و مقایسه رابطه بین پراکندگی سود و بازده سهام با استفاده از الگوی جورجینسن و همکاران (2012) می‌باشد. تحلیل داده‌های گردآوری شده در این پژوهش با استفاده از روشهای رگرسیون و آزمون معناداری t انجام شد. سپس فرضیه های پژوهش مورد آزمون قرار گرفتند. نتایج حاصل بررسی 285 شرکت عضو نمونه ن...
متن کاملTheories of the Distribution of Earnings
Several empirical regularities motivate most theories of the distribution of labor earnings. Earnings distributions tend to be skewed to the right and display long right tails. Mean earnings always exceed median earnings and the top percentiles of earners account for quite a disproportionate share of total earnings. Mean earnings also differ greatly across groups defined by occupation, educatio...
متن کاملThe Contribution of Dispersion across Plants to the Increase in US Earnings Dispersion
Using an extensive set of establishment and individual data, we estimate the extent to which the variance of earnings among establishments increased in 1977-2002 and its contribution to the increased dispersion of US earnings among individuals. We find that more than 70 percent of the increase in the variance of earnings in this period occurred across establishments. More than two thirds of the...
متن کاملWhy Does Analyst Forecast Dispersion Predict Stock Return? A Corporate Guidance Perspective
Several studies find that stocks with higher dispersion of analysts’ earnings forecasts have lower future returns. The phenomenon is popularly interpreted as evidence that stock prices reflect optimism in the presence of differences of opinions and short-sales constraints. This paper shows that stocks with higher forecast dispersion also experience poorer operating performance in the future. We...
متن کاملWhy Does Analysts’ Forecast Dispersion Predict Stock Returns? A Corporate Guidance Perspective
Recent studies find that stocks with higher dispersion of analysts’ earnings forecasts have lower future returns. The phenomenon is popularly interpreted as evidence that stock prices reflect optimism in the presence of differences of opinions and short-sales constraints. This paper shows that there is also a negative relationship between forecast dispersion and a firm’s unexpected future earni...
متن کامل