Housework and the Wages of Young, Middle-Aged, and Older Workers

This article uses samples of young, middle-aged, and older married workers drawn from the Panel Study of Income Dynamics to examine whether the effect of housework time on wages differs among these age groups. Results from OLS, fixed effects, and panel data instrumental variables models show that young and middle-aged wives are the only groups for which the authors find consistent evidence of a housework effect on wages. Each additional hour of housework reduces their wages by 0.1–0.4%. Additionally, the analysis finds evidence that for young workers, housework time is an important determinant of the male/female wage gap. (JEL J16 , J22 , J31 )     

The Changing Rewards to Science: The Case of Biotechnology

Little is known about the form and or magnitude of compensation provided university-based scientists working on firm R&D. This is unfortunate, given the important role that university-based scientists play in R&D, and the growing literature concerning compensation and innovation. This paper sheds some light on these issues by examining the compensation of university-based scientists involved with 52 biotech firms that made an initial public offering between March of 1990 and November of 1992. Although the stock holdings of the university scientists are of particular interest, additional forms of compensation received by the scientists are also examined.We find that approximately 10 percent of the university-based scientists affiliated with these companies hold sufficient options or stock to require disclosure at the time of the public offering. A far larger proportion has an equity position in the firm. In many instances the scientists also receive consulting fees or salary from the firm and enter into licensing agreements with the firm. In addition to providing information concerning the compensation of university-based scientists, the empirical work suggests that the rewards to science can be significantly greater than previous work would suggest.     

Uk Corporate Acquisitions In Latin America In The 1990s: Lost Opportunities In A New Economic Environment

During the 1990s, foreign direct investment flowed into Latin America at an unprecedented rate. Capital inflows associated with privatizations and private mergers and acquisitions (M&As) rose steeply. Drawing on original firm–level transactions data, this article examines the extent to which UK enterprises participated in the Latin American privatization and private M&A boom. The authors conclude that, relative to their counterparts in many other major industrial countries, UK enterprises adopted a cautious stance, largely eschewing privatization opportunities and concentrating M&A activities on relatively few operations, sectors and countries, in order to strengthen product and market positions. Moreover, the strategic logic guiding the most important corporate acquisitions centred on gaining access to domestic markets rather than attempting to create global export platforms.     

Company reputation and its influence on consumer trust in response to ongoing CSR communication

There is considerable disagreement in academic scholarship and beyond as to whether, in cases of bad reputations, companies will want to communicate corporate social responsibility (CSR) activities because this kind of communication is likely to increase consumers’ skepticism. In this regard, the two empirical studies discussed in this article examine the influence of prior company reputation on consumers’ trust in response to CSR communication in general and the development in response to continuous CSR activities and their ongoing communication by companies as well as by the media in particular. The two studies show that consumers’ trust in companies’ CSR activities increases after a second presentation of information by companies even in instances when companies had prior negative reputations. The second study in particular fills a gap in the literature on underlying mechanisms of consumers’ reactions to CSR communication. The results suggest that companies with prior negative reputations do not need to remain silent about their CSR activities; instead, CSR communication can help improve consumers’ trust in companies. However, the findings of these two studies also suggest that this positive development is short-lived. Consumers’ developing trust in companies’ CSR activities decreases significantly if they are exposed to negative information on these companies.     

Determinants of bank’s interest margin in the aftermath of the crisis: the effect of interest rates and the yield curve slope

Empirical Economics - This paper analyses the determinants of net interest margin, focusing on the impact of interest rates and the slope of the yield curve, using a broad panel of data from 32...