On-the-Job Training, Immigration Reform, and the True Wages of Native Male Workers

This study measures the Immigration Reform and Control Act's (IRCA) impact on the "true" earnings of native workers. True earnings include observed wages and compensation received in the form of on-the-job training (OJT). Using 1983–1992 NLSY data, we present evidence suggesting IRCA reduced the true wages of male natives most likely to be mistaken as unauthorized. Our findings suggest that Mexican Americans suffered the largest decline in post-IRCA OJT. It appears then that antidiscrimination policies following recent immigration reform have not fully protected some U.S. natives against unintended IRCA-related employment discrimination.     

Deregulation, Business Strategy, and Wages in the Airline Industry

This study assesses empirically the relationship between business strategy and wages within the context of a significant environmental change—deregulation of the airline industry. Regression results provide limited support for the hypotheses that firms' business strategies would lead to systematic differences in average earnings levels of airline carriers, depending on whether or not the industry was regulated, and that these strategies would operate over and above firms' ability to pay higher wages. It appears that business strategies may be linked to their human resource outcomes even in a heavily unionized environment.     

出口收汇风险的模糊综合评价研究

归纳总结了在传统的国际结算方式下,出口企业可能面临的各类收汇风险.先对出口收汇风险进行定性分析,建立风险评价指标体系,再对出口企业收汇风险进行定量分析,划分风险指标的风险等级,最后利用模糊综合评价模型,评估在各种风险共同作用下的出口企业可能面临的收汇风险等级.旨在从出口企业的角度出发,将其收汇风险进行量化,为出口企业衡...     

The NBA, Exit Discrimination, and Career Earnings

The purpose of this article is threefold. First, it complements the many wage discrimination studies by examining exit discrimination in the NBA using a decade's worth of data (the 1980s). White players have a 36 percent lower risk of being cut than black players, ceteris paribus , translating into an expected career length of 7.5 seasons for an apparently similar player who is white and 5.5 seasons for the same player who is black. Second, the career earnings effect of exit discrimination in the 1980s is larger ($808,000) than the career earnings effect of wage discrimination ($329,000). Third, our data are consistent with the hypothesis that customer racial discrimination is the reason for the observed exit discrimination.     

The Growing Importance of Family: Evidence from Brothers’ Earnings

We examine between‐brother correlation of earnings, family income, and wages from two cohorts of the National Longitudinal Surveys. Young brothers who entered the labor market in the 1970s had lower correlations of economic outcomes than did those who entered in the 1980s and early 1990s. Neither the rising brother correlation in education nor the rising return to schooling accounts for much of the increase in the brother correlation in earnings. These results suggest that family and community influences other than years of education that are shared by brothers have become increasingly important in determining economic outcomes.     

融资需求、盈余管理与公司资本配置效率

本文以我国 2011~2015 年的 A 股上市公司为考察对象，实证检验了融资需求与盈余管理的关系，及在融资需求驱动下,不同盈余管理方式对资本配置效率的影响。研究发现：融资需求与盈余管理呈显著正相关，即企业融资需求越强烈，发生盈余管理活动的可能性越大，盈余管理程度也越高；盈余管理行为会影响会计信息质量，提高信息不对称程度，进而容易引发非效率投资问题，但盈余管理并不总是会降低资本投资效率，基于融资需求的盈余管理对缓解非效率投资有一定的积极作用。     

Self-serving attributions,managerial cognition,and company performance

Past research using managers' attributions for good and poor performance in annual reports has repeatedly demonstrated that management takes credit for good outcomes. However, there is disagreement about whether this pattern of attributions reflects attempts to manage impressions in stakeholders or biased perceptions on the part of management, and whether it is associated with increases or decreases in future performance. In this study, attributions in letters to shareholders in the annual reports of public utilities were analyzed. The results showed the same general pattern of attributions as was found in previous studies. However, the relationship between this pattern of attributions and performance (earnings per share growth) was generally negative. Implications of these results for future research are discussed.     

控股股东性质、利益输送与盈余管理幅度——来自中国A股公司首次亏损年度的经验证据

本文研究了大股东从公司向自身"输送利益"与公司预期获取大股东"利益输送"的机会,对公司首次亏损年度负向盈余管理幅度的影响。证据表明,大股东资金占用的规模越大,公司可运用于改善经营管理的财务资源越少,公司进行负向盈余管理的幅度越大;当第一大股东为非经营性股东,公司流通股比例越大时,其获取大股东利益输送的机会越少,公司进行负向盈余管理的幅度越大。     

The Impact of Accounting Earnings Disclosures on Stock Prices in Singapore

This paper reports the relationship between earnings and share prices. The results show that unexpected earnings changes are significantly associated with share price changes. However, the strength of the earnings effect is not as pronounced as those reported in the more analytically-intensive developed stock markets. The results are adjusted for risk differences by using a non-synchronous correction procedure to remove thin-trading bias.     

Race and Post-Displacement Earnings Among High-Tech Workers

This study examines racial variations in post-layoff earnings among a cohort of workers displaced in 1985 from Silicon Valley's high-technology industries. The analysis shows that blacks and Hispanics suffered greater earnings losses than non-Hispanic whites, and that this racial disparity occurred both among those who found other jobs within the high-tech sector and among those who were reemployed outside the high-tech sector. There were no statistical differences in outcomes between Asians and non-Hispanic whites.     

Union Effects on Earnings Dispersion in Australia, 1986–1994

In Australia a large decline in union density has occurred since the mid-1970s. This paper examines the effect of the decline in union density on the dispersion of earnings in Australia between 1986 and 1994. Changes in union density are found to have increased earnings dispersion for male employees over this period, but do not appear to have had a strong effect on earnings dispersion for female employees. The main cause of changes in earnings dispersion for both male and female employees has been an increase in the dispersion of earnings of non-union employees.     

Tipped Wage Effects on Earnings and Employment in Full‐Service Restaurants

We exploit more than 20 years of changes in state‐level tipped wage policy and estimate earnings and employment effects of the tipped wage using county‐level panel data on full‐service restaurants (FSR). We extend earlier work by Dube, Lester, and Reich ( 2010 ) and compare outcomes between contiguous counties that straddle a state border. We find a 10‐percent increase in the tipped wage increases earnings in FSRs about 0.4 percent. Employment elasticities are sensitive to the inclusion of controls for unobserved spatial heterogeneity. In our preferred models, we find small, insignificant effects of the tipped wage on FSR employment.     

Long‐Term Earnings Inequality,Earnings Instability and Temporary Employment in Spain: 1993–2000

This article provides a longitudinal perspective on changes in Spanish male earnings inequality for the period 1993–2000 by decomposing the earnings covariance structure into its permanent and transitory parts. Cross‐sectional earnings inequality of male full‐time employees falls over the second half of the 1990s. Such decline was determined by a decrease in earnings instability and an increase of the permanent earnings component. Given the marked decline in temporary employment over the sample period, we also examine the effect of the type of contract on earnings variance components and find that workers on a fixed‐term contract face, on average, more instability than workers on a permanent contract. This evidence suggests that the decline in temporary employment is responsible for the decreasing earnings instability.     

Privatization, City Residency, and Black-White Earnings Differentials: Evidence from the Public Transit Sector

Becker's theory on the economics of discrimination suggests that enhanced competition creates a business environment that discourages employers from paying racial earnings differences. This study tests this hypothesis by examining black-white earnings differentials for public transit bus drivers for pre- and post-privatization periods. The findings reveal an erosion of the racial earnings differential in the post-privatization period which is consistent with the Becker hypothesis. Public transit black union drivers earned more than their white counterparts prior to privatization. City residency accounts for 36 percent of this premium. However, the city-residency earnings advantage and the black-white union premium declinedappreciably in the post-privatization period.     

制度环境 盈余质量与融资约束

以我国A股上市公司2007-2008年的数据为样本,研究了盈余质量和制度环境因素对融资约束的影响。研究发现,盈余质量的提高和制度环境的改善都可以有效降低企业的融资约束;在市场化水平越高的地区,盈余质量对公司面临的融资约束所产生的缓解效应更加显著;但是在市场化水平低的地区,盈余质量的提高并没有很好地降低企业面临的融资约束水平。同时得出结论:盈余质量对于企业面临的融资约束的缓释作用离不开宏观制度环境的改善,政府应该加快各地区的市场化进程。     

Temporary Help Work: Earnings,Wages, and Multiple Job Holding*

Temporary help services (THS) employment has been growing in size, particularly among disadvantaged workers. An extended policy debate focuses on the low earnings, limited benefits, and insecurity that such jobs appear to provide. We investigate the earnings and wage differentials observed between THS and other jobs in a sample of disadvantaged workers. We find lower quarterly earnings at THS jobs but a $1 per hour wage premium. We reconcile these findings in terms of the shorter duration and lower hours worked at THS jobs. We interpret the premium as a compensating wage differential.     

Governors' Party Affiliation and Unions

Employing a regression discontinuity (RD) approach on gubernatorial elections in the United States over the last three decades, this paper investigates the causal effects of governors' party affiliation (Democrat versus Republican) on unionization of workers, and unionized workers' working hours and earnings. Surprisingly, we find no significant impact from the party affiliation of governors on union membership and union workers' labor‐market outcomes.     

Non-farm income,gender, and inequality: evidence from rural Ghana and Uganda

This paper examines how the distribution of earnings in rural Ghana and Uganda differs by income type and by gender. We find that non-farm earnings contribute to rising inequality, but that lower income groups also benefit due to strong overall growth in non-farm earnings. The inequality-inducing effect is driven by self-employment income; wage income, on the other hand, reduces inequality. The tendency of non-farm income to contribute to inequality is greater among female-headed households for whom self-employment is important and non-farm opportunities more constrained. Determinants of non-farm income are estimated and appear to be strongly related to location, education, age, and distance to market. Estimates of the linkages to agriculture in Ghana are weaker than expected, showing the non-farm sector to be functioning more as an alternative activity to agriculture than as a complement.     

Labor‐Market Specialization within Same‐Sex and Difference‐Sex Couples

We use data from the 2000 decennial U.S. Census to compare differences in earnings, hours worked, and labor‐force participation between members of different household types, including same‐sex couples, different‐sex couples, and roommates. Both same‐sex and different‐sex couples exhibit some degree of household specialization, whereas roommates show little or no degree of specialization. Of all household types, married couples exhibit by far the highest degree of specialization with respect to labor‐market outcomes. With respect to differences in earnings and hours, gay male couples are more similar to married couples than lesbian or unmarried heterosexual couples are to married couples.     

管理层盈余预测与不对称及时性实证研究

为了分析管理层盈余预测对盈余不对称及时性之间的关系,即发布消息的时间点和内容分类对盈余不对称及时性的影响,用Basu模型分段实证检验盈余预测对盈余不对称及时性的影响、正(负)向盈余预测与不对称及时性的关系,以及当期发布的盈余预警对盈余不对称及时性的影响。结果表明,不对称及时性对公司发布的未来盈余的影响不显著,公司发布预期盈余的时间及时性主要集中在负向盈余意外,这与价格引导盈余引起更多的未来盈余预测的向下有偏的不对称及时性系数相一致,当期发布盈余预警会降低盈余与收益的不对称及时性。管理层发布内部盈余预测,有助于缓解与外部信息使用者之间的信息不对称,满足利益相关者的决策需求,进而有助于促进证券市场向半强式有效市场转化。