The Causal Effect of Local Product Market Shocks on Equity Holdings: Evidence from the Airline Industry

2017 ◽  
Author(s):  
Daniel Bradley ◽  
Jared Williams
Keyword(s):  
Airline Industry ◽  
Causal Effect ◽  
Product Market ◽  
Local Product ◽  
Market Shocks ◽  
Equity Holdings

scholarly journals Local product space and firm-level churning in exported products

2019 ◽  
Vol 28 (6) ◽  
pp. 1473-1496
Author(s):  
Cilem Selin Hazir ◽  
Flora Bellone ◽  
Cyrielle Gaglio
Keyword(s):  
Product Space ◽  
Local Environment ◽  
Product Market ◽  
Manufacturing Firms ◽  
Entry And Exit ◽  
Micro Data ◽  
Firm Level ◽  
The Core ◽  
Local Product ◽  
Core Capabilities

Abstract This article explores the determinants of changes to the range of exports at the firm level with a focus on the role played by the firm’s local environment. It extends the model developed by Bernard et al. (2010) to a multiregional setting to account for localized externalities. The model is tested using French micro-data on monoregional manufacturing firms covering the period 2002–2007. Our main finding is that the local product space has an impact on exporters’ product-market entry and exit decisions. Firms tend to modify their exported product mix to achieve congruence with the core products of the locality. Also, firms receive higher revenue from the export of products that are more related to the core capabilities of the locality.

scholarly journals The Flattening Firm and Product Market Competition: The Effect of Trade Liberalization on Corporate Hierarchies

2010 ◽  
Vol 2 (4) ◽  
pp. 105-127 ◽  
Author(s):  
Maria Guadalupe ◽  
Julie Wulf
Keyword(s):  
Organizational Structure ◽  
Trade Liberalization ◽  
Organizational Design ◽  
Natural Experiment ◽  
Causal Effect ◽  
Market Competition ◽  
Product Market ◽  
Product Market Competition ◽  
Division Managers

This paper establishes a causal effect of product market competition on various characteristics of organizational design. Using a unique panel dataset on firm hierarchies of large US firms (1986–1999) and a quasi-natural experiment (trade liberalization), we find that competition leads firms to flatten their hierarchies: firms reduce the number of positions between the CEO and division managers, and firms increase the number of positions reporting directly to the CEO. The results illustrate how firms redesign their organizational structure through a set of complementary choices in response to changes in their environment. We discuss several possible interpretations of these changes. (JEL D23, F13, G34, M12, M51)

scholarly journals The Effect of Education on Equity Holdings

2012 ◽  
Vol 12 (1) ◽  
Author(s):  
Dmytro Hryshko ◽  
Maria Luengo-Prado ◽  
Bent E. Sorensen
Keyword(s):  
Mutual Funds ◽  
Fixed Effects ◽  
Causal Effect ◽  
Panel Study ◽  
White Collar ◽  
Longitudinal Survey ◽  
Income Dynamics ◽  
Retirement Accounts ◽  
Equity Ownership ◽  
Equity Holdings

Abstract We study the effect of education on equity ownership in the form of stocks or mutual funds (outside of retirement accounts). We find a causal effect of education on stockholding using the number of colleges in the county where the respondent grew up as an instrument and data from the Panel Study of Income Dynamics. The effect is particularly strong for whites from non-privileged backgrounds. We explore the channels through which education affects equity holdings using the Wisconsin Longitudinal Survey and find that, controlling for family fixed effects, increased cognition and features associated with having a white collar job appear to be the main channels.

Estimating the Magnitude of the Relation Between Bullying, E-Bullying, and Suicidal Behaviors Among United States Youth, 2015

Crisis ◽  
2019 ◽  
Vol 40 (3) ◽  
pp. 157-165 ◽  
Author(s):  
Kevin S. Kuehn ◽  
Annelise Wagner ◽  
Jennifer Velloza
Keyword(s):  
Adolescent Suicide ◽  
Suicide Attempts ◽  
Causal Effect ◽  
Strong Association ◽  
Cross Sectional ◽  
Average Causal Effect ◽  
Effects Of Bullying ◽  
Pc Algorithm ◽  
Nationally Representative ◽  
Significant Covariates

Abstract. Background: Suicide is the second leading cause of death among US adolescents aged 12–19 years. Researchers would benefit from a better understanding of the direct effects of bullying and e-bullying on adolescent suicide to inform intervention work. Aims: To explore the direct and indirect effects of bullying and e-bullying on adolescent suicide attempts (SAs) and to estimate the magnitude of these effects controlling for significant covariates. Method: This study uses data from the 2015 Youth Risk Behavior Surveillance Survey (YRBS), a nationally representative sample of US high school youth. We quantified the association between bullying and the likelihood of SA, after adjusting for covariates (i.e., sexual orientation, obesity, sleep, etc.) identified with the PC algorithm. Results: Bullying and e-bullying were significantly associated with SA in logistic regression analyses. Bullying had an estimated average causal effect (ACE) of 2.46%, while e-bullying had an ACE of 4.16%. Limitations: Data are cross-sectional and temporal precedence is not known. Conclusion: These findings highlight the strong association between bullying, e-bullying, and SA.

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