| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w18592 |
| 来源ID | Working Paper 18592 |
| Capital and Labor Reallocation Inside Firms | |
| Xavier Giroud; Holger M. Mueller | |
| 发表日期 | 2012-12-06 |
| 出版年 | 2012 |
| 语种 | 英语 |
| 摘要 | We document how a plant-specific shock to investment opportunities at one plant of a firm ("treated plant") spills over to other plants of the same firm--but only if the firm is financially constrained. While the shock triggers an increase in investment and employment at the treated plant, this increase is offset by a decrease at other plants of the same magnitude, consistent with headquarters channeling scarce resources away from other plants and toward the treated plant. As a result of the resource reallocation, aggregate firm-wide productivity increases, suggesting that the reallocation is beneficial for the firm as a whole. We also show that--in order to provide the treated plant with scarce resources--headquarters does not uniformly "tax" all of the firm's other plants in the same way: It is more likely to take away resources from plants that are less productive, are not part of the firm's core industries, and are located far away from headquarters. We do not find any evidence of investment or employment spillovers at financially unconstrained firms. |
| 主题 | Microeconomics ; Households and Firms ; Financial Economics ; Corporate Finance ; Labor Economics ; Unemployment and Immigration |
| URL | https://www.nber.org/papers/w18592 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576266 |
| 推荐引用方式 GB/T 7714 | Xavier Giroud,Holger M. Mueller. Capital and Labor Reallocation Inside Firms. 2012. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w18592.pdf（301KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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