Explaining firms' heterogeneity in productivity and wages: ownership, innovation and size.

摘要: Micro data have provided invaluable contributions to a better understanding of the drivers of, and factors affecting, wages, productivity growth. The literature in this area has highlighted both ownership innovative activity as two that consistently seem affect its dynamics at the micro level the empirical regularity larger firms pay higher wages. This thesis provides evidence on these issues. In first chapter I investigate implications of concentration presence of financial institutions for productivity, using accounting detailed shareholdings for a panel quoted UK companies. control unobserved firm fixed effects the endogeneity inputs GMM estimation. The second chapter considers whether nationality affects productivity. analysis challenges previous foreign advantage by showing that is large multinational advantage, except for US firms. addition, longitudinal analysis disentangles sources US and MNE advantage. third examines hypothesis that multinational accessto knowledges tocks quantifies how much multinationals' successis due innovation expenditure how much access their intra-firm worldwide pool information. fourth chapter matches information activity with production investigate the link between expenditure, knowledge flows results confirm importance innovation for growth. final thesis investigates the empirical establishments longitudinal estimates demonstrate positive size wages persist after controlling for observed worker, match specific characteristics and correcting non-random mobility workers.