There is controversy between Putnam and Olson concerning the role of group. Putnam argued that small group makes a contribution to economic growth whereas Olson asserted that small group hampers the economic growth through rent-seeking behavior. Since the end of the 1990s in Japan, there has been a remarkable rise in the rate of enactment of public information-disclosure ordinances by local gov...

This paper use Swedish establishment-level panel data on job turnover and wages to test the hypothesis of a positive relation between job reallocation and degree of wage compression as proposed by Bertola & Rogerson (1997). The effect of wage dispersion on job turnover is negative and significant in the manufacturing sector. The wage compression effect is stronger on job destruction than on job...

Using panel data for 24 (OECD) countries during the period 1980–2004 this study examines how social trust affects fertility. The major finding through the random effects approach is that the social trust increases the fertility rate. A 1% rise in the trust rate leads to an increase in fertility by 0.01 points. The results presented here suggest that in developed countries, trust underlies the d...

Many recent studies exploring conditional factor demand or factor substitution issues use firm level panel data. A considerable number of establishment panels contains no direct information on the capital input, necessary for production or cost function estimation. Incorrect measurement of capital leads to biased estimates and casts doubt on any inference on output elasticities or input substit...

Our objective is to explore the correlation between stock market and investors’ attention in China’s stock market through empirical analysis method. We use search volume (SV) to represent individual investors’ attention. We choose 1380 a-share stocks in SSE and SZSE from 2008 to 2011. After summarizing time series data of different cross-sections, we get the panel data. According to the fixed e...

This paper examines the changes of royalty terms of technology import contracts of Japan in 1980s and 1990s, based on the sector-level panel data. Major findings are the following: (1) The share of high royalty contracts increased significantly in 1980s and 1990s, which, however, mainly reflected the change of the composition of imported technologies, especially the increasing share of software...

This paper investigates whether and how individual managers affect corporate behavior and performance. We construct a manager-firm matched panel data set which enables us to track the top managers across different firms over time. We find that manager fixed effects matter for a wide range of corporate decisions. A significant extent of the heterogeneity in investment, financial and organization...

This paper provides empirical evidence on the link between piracy and software protection, taking piracy determinants in cross–country regressions as basic reference. For that purpose, we use a panel data set for 24 countries over three years, 1994, 1997 and 2000, relating piracy rates to an index of software protection, per capita income and a set of country fixed effects. Results display that...

This article examines the determinants of private investment in Brazil from sectorial industry data for the period of 1996 to 2010. The series of gross fixed capital formation, commonly used in empirical studies of aggregate investment, eliminates irregular adjustments of individual production units due to the aggregation process. Using the industry’s sectorial data it is possible to avoid smoo...