NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
New NBER Research

25 July 2014

Does it Pay to Invest in Firms with High Workplace Satisfaction?

Alex Edmans, Lucius Li, and Chendi Zhang find that high employee satisfaction is correlated with positive abnormal stock market returns in countries with flexible labor markets, such as the United States, but not in countries with low labor market flexibility, such as Germany. The study compares companies in 14 countries with heterogeneous labor markets.

24 July 2014

Property Values and Brownfield Remediation

Kevin Haninger, Lala Ma, and Christopher Timmins study the effect of the U.S. Environmental Protection Agency's Brownfields Program that develops once-contaminated sites. Using non-public EPA administrative records and detailed property price data, they estimate that a brownfields cleanup raises house prices nearby by between 5 and 11%.

23 July 2014

Informed Shoppers and the Brand Premium

Bart Bronnenberg, Jean-Pierre Dubé, Matthew Gentzkow, and Jesse Shapiro find that more informed consumers, measured in various ways, are less likely to pay extra to buy national brands. For example, pharmacists choose national brands of headache remedies only 9 percent of the time, compared to 26 percent of the time for the average consumer. For pantry staples such as salt and sugar, chefs devote 12 percentage points less of their purchases to national brands than demographically similar non-chefs.

22 July 2014

Teacher Absence in India

Karthik Muralidharan, Jishnu Das, Alaka Holla, and Aakash Mohpal study the determinants of teacher absence in a panel data set comprising schools in 1297 Indian villages. They find that 24 percent of teachers in public schools are absent during unannounced visits. More frequent inspections are strongly correlated with teacher attendance; hiring more inspectors may be ten times more cost-effective in raising teacher-student contact time than hiring more teachers.
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