Finance
Research insight
INVITED EDITOR
Editorial from
Rui C. Silva
Assistant Professor, Nova SBE
July 16, 2024
8. Decent work and economic growth

8. Decent work and economic growth

Promote inclusive and sustainable economic growth, full and productive employment and decent work for all
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Internal Labor Markets, Wage Convergence and Investment

Rui Silva joined Nova SBE as an Assistant Professor in Finance! Recently, he published "Internal labor markets, wage convergence, and investment" in the Journal of Financial and Quantitative Analysis, 56(4), 1192-1227. Click to read the abstract and access the paper.

Abstract

I document wage convergence in conglomerates using detailed plant-level data: Workers in low-wage industries collect higher-than-industry wages when the diversified firm also operates in high-wage industries. I confirm this effect by exploiting the implementation of the North American Free Trade Agreement (NAFTA) and changes in minimum wages at the state level as sources of exogenous increases in wages in some plants. I then track the evolution of wages of the remaining workers of the firm, relative to workers of unaffiliated plants. Plants where workers collect higher-than-industry wages operate with higher capital intensity, suggesting that internal labor markets may affect investment decisions in internal capital markets.

Access the research paper here

Rui C. Silva
Assistant Professor, Nova SBE
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Internal Labor Markets, Wage Convergence and Investment

Rui Silva joined Nova SBE as an Assistant Professor in Finance! Recently, he published "Internal labor markets, wage convergence, and investment" in the Journal of Financial and Quantitative Analysis, 56(4), 1192-1227. Click to read the abstract and access the paper.

PhD Series - Meet Fahiz Baba-Yara

Fahiz Baba-Yara started his PhD journey in Economics and Finance in 2015. His research focus on finance, specifically how machine learning models help us make better this decision and how we can improve the forecasting ability of these machine learning models. Fahiz is now heading forward to Indiana University as Assistant Professor from next semester.

A new opportunity for family offices: investing in gender equality

While institutional investors are ocean liners, family offices are sailing boats ready to adjust sails according to the wind direction. With smaller governance structures and more independent decision-making, family offices are better able to set agendas and head towards new opportunities.

How will FinTech impact financial services and society?

FinTech in Iberia and sub-Saharan Africa Report. This is the first output of the FinTech Initiative, a joint partnership between Nova SBE Finance Knowledge Center and Nova SBE NOVAFRICA Knowledge Center, under the Social Equity Initiative, promoted by BPI | Foundation "la Caixa".

THE CHOICES OF

Nova SBE awarded at the 1st edition of the EFFAS Gasperini Awards

Professors Miguel Ferreira and José Tavares and Nova SBE PhD student Sharmin Sazedj were awarded the first edition of the EFFAS Gasperini Awards, where they represented Nova SBE

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