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SMU SOE Seminar (October 23, 2023): Credit and firms' organisation
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TOPIC:
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Credit and firms' organisation;
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ABSTRACT
We study the nexus between the organization of firm's labor and firm credit. We use employer-employee data, firm loans and bank balance sheets to construct an instrument for firm's credit supply based on firm-bank credit linkages. We conduct an event study and evaluate the importance of credit for the organization of firm's labor in the aftermath of an exogenous shock: the global financial crisis. We show that firms reduce employment of team leaders and production workers. We investigate the channel and provide evidence that the re-organization of the firms' labor structure happens via the financing of machines: firms that invested in machines before the financial crisis are more exposed to the credit shock and re-organize by reducing employment of workers that are complementary with machines.
Click here to view the CV.
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PRESENTER
Alessandro Sforza
Universita di Bologna
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RESEARCH FIELDS
International Trade
Labor and Organisational economics
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DATE:
23 October 2023 (Monday)
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TIME:
4pm - 5.30pm
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VENUE:
Meeting Room 5.1, Level 5
School of Economics
Singapore Management University
90 Stamford Road
Singapore 178903
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