THREE ESSAYS IN LABOR FINANCE

This dissertation investigates how public policy and financial market conditions influence corporate decisions related to intangible capital. I exploit large-scale labor market data to study firm-level human capital along multiple dimensions. Chapter one examines corporate hiring sensitivities to a sudden tax windfall, documenting substantial nationwide heterogeneous responses across geographies, ownership types, and worker prospects. Chapters two and three focus on the innovation side of corporate human capital. I develop separate research and development measures independent of corporate disclosures, enabling an in-depth examination of a firm's capital allocation between development and research. Overall, this dissertation enhances our understanding of corporate policies inside the firm.

Author dc:creator

• MA HOUNING

• Institutional Ownership
• R&D
• Labor Finance
• Corporate Finance