Destructive Creation at Work: How Financial Distress Spurs Entrepreneurship [0.03%]
困境中的创造性破坏：财务困境如何激发创业活动
Tania Babina
Tania Babina
Using U.S. Census firm-worker data, I document that firms' financial distress has an economically important effect on employee departures to entrepreneurship. The impact is amplified in the high-tech and service sectors, where employees are...
How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios [0.03%]
家庭状态与社会保障领取方式对生命周期投资组合的影响分析
Andreas Hubener,Raimond Maurer,Olivia S Mitchell
Andreas Hubener
We show how optimal household decisions regarding work, retirement, saving, portfolio allocations, and life insurance are shaped by the complex financial options embedded in U.S. Social Security rules and uncertain family transitions. Our l...
John Beshears,James J Choi,David Laibson et al.
John Beshears et al.
Many experiments have found that participants take more investment risk if they see returns less frequently, see portfolio-level returns (rather than each individual asset's returns), or see long-horizon (rather than one-year) historical re...
The Bright Side of Corporate Diversification: Evidence from Internal Labor Markets [0.03%]
企业多元化的好处：来自内部劳动力市场的证据
Geoffrey Tate,Liu Yang
Geoffrey Tate
We document differences in human-capital deployment between diversified and focused firms. We find that diversified firms have higher labor productivity and that they redeploy labor to industries with better prospects in response to changin...
James J Choi,David Laibson,Brigitte C Madrian
James J Choi
We conduct an experiment to evaluate why individuals invest in high-fee index funds. In our experiments, subjects allocate $10,000 across four S&P 500 index funds and are rewarded for their portfolio's subsequent return. Subjects overwhelmi...