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Replication data for: Labor and the Market Value of the Firm

Version
V0
Resource Type
Dataset
Creator
  • Merz, Monika
  • Yashiv, Eran
Publication Date
2007-09-01
Description
  • Abstract

    What role does labor play in firms' market value? We use a production-based asset pricing model with factor adjustment costs and forward-looking agents to explore this question. We posit that the hiring of labor is akin to investment in capital and that the two interact, with the interaction being a crucial determinant of the dynamic behavior of market value. Using aggregate US corporate sector data, we estimate firms' optimal hiring and investment decisions and the consequences for firms' value. (JEL E22, E24, G31, G32, M51)
Availability
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Relations
  • Is supplement to
    DOI: 10.1257/aer.97.4.1419 (Text)
Publications
  • Merz, Monika, and Eran Yashiv. “Labor and the Market Value of the Firm.” American Economic Review 97, no. 4 (August 2007): 1419–31. https://doi.org/10.1257/aer.97.4.1419.
    • ID: 10.1257/aer.97.4.1419 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-12-07

Merz, Monika; Yashiv, Eran (2007): Replication data for: Labor and the Market Value of the Firm. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. https://doi.org/10.3886/E116290