| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28766 |
| 来源ID | Working Paper 28766 |
| Discrimination, Managers, and Firm Performance: Evidence from \u201cAryanizations\u201d in Nazi Germany | |
| Kilian Huber; Volker Lindenthal; Fabian Waldinger | |
| 发表日期 | 2021-05-10 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | Large-scale increases in discrimination can lead to dismissals of highly qualified managers. We investigate how expulsions of senior Jewish managers, due to rising discrimination in Nazi Germany, affected large corporations. Firms that lost Jewish managers experienced persistent reductions in stock prices, dividends, and returns on assets. Aggregate market value fell by roughly 1.8 percent of German GNP because of the expulsions. Managers who served as key connectors to other firms and managers who were highly educated were particularly important for firm performance. The findings imply that individual managers drive firm performance. Discrimination against qualified business leaders causes first-order economic losses. |
| 主题 | Microeconomics ; Households and Firms ; Macroeconomics ; Fiscal Policy ; Financial Economics ; Corporate Finance ; Labor Economics ; Labor Discrimination ; Other ; Accounting, Marketing, and Personnel ; History ; Financial History ; Labor and Health History ; Other History |
| URL | https://www.nber.org/papers/w28766 |
| 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/586440 |
| 推荐引用方式 GB/T 7714 | Kilian Huber,Volker Lindenthal,Fabian Waldinger. Discrimination, Managers, and Firm Performance: Evidence from \u201cAryanizations\u201d in Nazi Germany. 2021. |
| 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 | ||
| w28766.pdf（5160KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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