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Prediction Ability Author info | Abstract | Publisher info | Download info | Related research | Statistics Katsuya Takii (Osaka University)
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This paper models the value of managerial human capital as a function of the ability to predict profitability in the presence of risk. The model implies that the marginal productivity of prediction ability increases with increasing risk and that managers with high prediction ability will tend to work in risky industries. This prediction contrasts with the traditional view that talented managers concentrate in large firms. Business School placement data supports this hypothesis; talented Business School graduates choose to work in risky industries. (Copyright: Elsevier)
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Article provided by Elsevier for the Society for Economic Dynamics in its journal Review of Economic Dynamics .
Volume (Year): 6 (2003)
Issue (Month): 1 (January)
Pages: 80-98
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Handle: RePEc:red:issued:v:6:y:2003:i:1:p:80-98Contact details of provider: Postal: Review of Economic Dynamics Academic Press Editorial Office 525 "B" Street, Suite 1900 San Diego, CA 92101 Fax: 1-860-486-4463 Email: Web page: http://www.EconomicDynamics.org/review.htm More information through EDIRC
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Keywords: manager ; entrepreneur ; human capital ; risk ; complementarity ; assignment ; Other versions of this item:
Find related papers by JEL classification: D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations M13 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - New Firms; Startups
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"Wage Inequality and the Rise in Returns to Skill ,"
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"Prediction ability and investment under uncertainty ,"
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Other versions:
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references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Katsuya Takii, 2007.
"The Persistence of Differences in Productivity, Wages, Skill Mixes and Profits Between Firms ,"
OSIPP Discussion Paper
07E002, Osaka School of International Public Policy, Osaka University.
[Downloadable!]
Other versions: Katsuya Takii, 2004.
"Entrepreneurial Efficiency: An Empirical Framework and Evidence ,"
Macroeconomics
0411006, EconWPA.
[Downloadable!]
Katsuya Takii, 2004.
"Entrepreneurial Efficiency: Theory ,"
Macroeconomics
0411005, EconWPA.
[Downloadable!]
Katsuya Takii, 2004.
"Entrepreneurial Efficiency ,"
Macroeconomics
0406007, EconWPA.
[Downloadable!]
Katsuya Takii, 2004.
"The Value of Adaptability ,"
Industrial Organization
0406004, EconWPA.
[Downloadable!]
Katsuya Takii, 2009.
"Entrepreneurial competition and its impact on the aggregate economy ,"
Journal of Economics ,
Springer, vol. 97(1), pages 1-18, May.
[Downloadable!] (restricted)
Other versions: Katsuya Takii, 2004.
"Fiscal Policy and Entrepreneurship ,"
Econometric Society 2004 Far Eastern Meetings
698, Econometric Society.
[Downloadable!]
Other versions:
Katsuya Takii, 2004.
"Fiscal Policy and Entrepreneurship ,"
Macroeconomics
0406006, EconWPA.
[Downloadable!] Katsuya Takii, 2004.
"Fiscal Policy and Entrepreneurship ,"
Econometric Society 2004 North American Summer Meetings
320, Econometric Society.
[Downloadable!] Takii, Katsuya, 2008.
"Fiscal policy and entrepreneurship ,"
Journal of Economic Behavior & Organization ,
Elsevier, vol. 65(3-4), pages 592-608, March.
[Downloadable!] (restricted) Katsuya Takii, 2004.
"Prediction Ability and Investment under Uncertainty ,"
Industrial Organization
0406005, EconWPA.
[Downloadable!]
Other versions: Katsuya Takii, 2008.
"The Persistence of Differences in Productivity, Wages, Skill Mixes and Profits Between Firms in a Rapidly Changing Environment ,"
OSIPP Discussion Paper
08E003, Osaka School of International Public Policy, Osaka University.
[Downloadable!]
Li, Fei & Ueda, Masako, 2005.
"CEO-Firm Match and Principal-Agent Problem ,"
CEPR Discussion Papers
5119, C.E.P.R. Discussion Papers.
[Downloadable!] (restricted)
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