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Labour market characteristics and profitability: An econometric analysis of Hugarian exporting firms, 1986-95

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  • László Halpern
  • Gábor Körösi

Abstract

This paper follows through an aspect of microeconomic restructuring in Hungary during the transition period. This restructuring brought about substantial changes in the behaviour of all economic agents. Our study combines labour market and corporate financial information to explore the effect of the quality of labour employed on the profitability of the firm. The quality of labour is measured as that portion of wage differentials that cannot be explained by a standard human capital model. The profitability of Hungarian exporting firms can be explained by economic factors during transition. In addition the quality of labour, export share, wage and bank costs, payables, receivables, foreign ownership, inventories, amortization and equity are all significant explanatory variables. Copyright The European Bank for Reconstruction and Development, 1998.

Suggested Citation

  • László Halpern & Gábor Körösi, 1998. "Labour market characteristics and profitability: An econometric analysis of Hugarian exporting firms, 1986-95," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 6(1), pages 145-162, May.
  • Handle: RePEc:bla:etrans:v:6:y:1998:i:1:p:145-162
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    File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1468-0351.1998.tb00041.x
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    1. Halpern,László & Wyplosz,Charles (ed.), 1998. "Hungary: Towards a Market Economy," Cambridge Books, Cambridge University Press, number 9780521630689, May.
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    Cited by:

    1. Kőrösi, Gábor, 2005. "Vállalati munkahelyteremtés és -rombolás
      [Corporate job creation and job destruction]
      ," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(11), pages 825-845.

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