We provide empirical evidence that investors are influenced by their coworkers when they make equity investment decisions. Using a rich dataset of 401(k) plans, we show that individuals are likely to increase (decrease) their risky share when they have lower (higher) equity exposure than their coworkers in the past period. The effect is especially strong when the difference of equity exposure i...

Capital expenditures are a critical part of hospitals' efforts to maintain quality of patient care and financial stability. Over the past 20 years, finding capital to fund these expenditures has become increasingly challenging for hospitals, particularly independent hospitals. Independent hospitals struggling to find ways to fund necessary capital investment are often advised that their best st...

According to preliminary estimates of the Nation's health spending in fiscal year 1975, health expenditures reached $118.5 billion, or $547 per person. Total health spending showed a 14-percent rise, significantly higher than the increase in 1974 when price controls in the health industry were in effect for most of the year. The acceleration of health spending during 1975 was accompanied by a s...

A better understanding of the determinants of public health care expenditures is key to designing effective health policies. We integrate demand and supply-side determinants and factors from political economy into an empirical analysis of the highly decentralized Swiss health care system and control for major health care finance reforms. We compile a novel data set of the cantonal health care e...

Using detail published firm-level panel data from the Taiwan Economic Journal (TEJ), this study measures the effect of foreign ownership on wage dispersion. The estimation has been done by the Ordinary Least Squares (OLS) technique. It finds that current R&D and capital expenditures lead to decreased wage dispersion in response to a rise in the foreign investment in Taiwan ROC. However, the lag...

We investigate the effects of the institutional settings of the US health care system on individuals' life-cycle medical expenditures. Health is a form of general human capital; labor turnover and labor-market frictions prevent an employer-employee pair from capturing the entire surplus from investment in an employee’s health. Thus, the pair underinvests in health during working years, thereby ...

National health care expenditures constitute revenue to the health care system. However, little is known about how this revenue is distributed across sectors. This article calculates revenues and detailed expenditures for physicians' offices, hospitals, and outpatient care centers in 1997, 2002, 2007, and 2012, using a range of Census Bureau and Bureau of Labor Statistics sources. Between 1997 ...

OBJECTIVE To assess effects of the Master Settlement Agreement (MSA) and the four individual state settlements on tobacco company decisions and performance. DESIGN 10-K reports filed with the US Securities and Exchange Commission, firm and daily data from the Center for Research in Security Prices, stock price indices, market share and advertising data, cigarette export and domestic consumpti...