The effects of unions on research and development: an empirical analysis using multi-year data

A link between unionization and research and development rates (research and development expenditures divided by output) is tested for in thirteen aggregate Canadian industries. A balanced panel of thirteen industries covering 1968 to 1986 reveals a negative relationship between industry unionization rates and research and development. The results hold when a number of techniques are used to control for unobserved industry heterogeneity and non-linear responses to unionization. In an industry that moves from the 25th to the 75th percentile of unionization, research and development is predicted to fall by about 40 per cent. JEL Classification: J51
Les effets des syndicats sur l'intensité de la recherche et développement: une analyse empirique sur plusieurs années . Ce mémoire examine le lien entre le degré de syndicalisation et les taux de dépenses en recherche et développement en proportion de la production dans treize industries canadiennes. Pour ces treize secteurs industriels, entre 1968 et 1986, il semble qu'il y ait une relation négative entre les taux de syndicalisation et les taux de dépenses en recherche et développement. Ces résultats sont robustesmême quand on utilise des techniques pour tenir compte de l'hétérogéneité des secteurs et des réponses non linéaires à la syndicalisation. Pour une industrie qui voit son taux de syndicalisation passer du 25e au 75e percentile, on prévoit une chute de 40% dans la recherche et développement.     

Board Pay and the Separation of Ownership from Control in U.K. SMEs

This paper examines Board pay for a sample of 571 U.K. SMEs from 1991 to 1995. Approximately half of the sample were closely-held (i.e., owner-managed) firms which allowed empirical testing of models of the relationship between Board pay and ownership from control characteristics. Consistent with their need to align shareholder and manager incentives, the results indicate that the change in nonclosely-held SME Board pay is significantly related to both external market pay comparisons and “benchmark” profits. This contrasts with the empirical results for the closely-held firms where Board pay awards are typically highly sensitive to current total profits but wholly unrelated to external market pay levels.     

意法半导体大手笔重组

2005年初,当Pasquale Pistorio在担任意法半导体公司首席执行官18年之后退休时, Carlo Bozotti接过了这一重任。Pistorio帮助这家法意合资的芯片制造商一跃成为充满平衡感、精妙之处和多样性的全球半导体工业巨人。接替Pistorio将面临极大的困难。现年53岁的Bozotti要面临重建公司增长、削减公司成本和鼓励公司创新营销等接踵而来的重任。简而言之, Bozotti的工作就是重组这家欧洲最大的芯片制造商,使其在比以往更加以消费者市场为导向的半导体行业中抓住更多的机会。     

The Effects of a Federal Flat Tax on Agriculture

This study examines the impact of a federal flat tax on agriculture by determining the tax liability under the current and flat tax systems using actual farm records. The study considers the linkages between agriculture and the rest of the economy by examining the impact of a flat tax on interest rates and capital investment and how those changes would affect agriculture. Results indicate that roughly 63% of agricultural producers would benefit from a flat tax in terms of lowering taxes paid. Under the flat tax, larger farms and more profitable farms would be relatively better off.