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外文原文
原文:Induced Discrimination and Firm Size: Information vs Incentive Effects
正文
ABSTRACT. This paper characterizes the differences in incentives to respond adversely to the Civil Rights Act of 1991 CRA91 across firm size. I then empirically test the firm responses pare them to the incentives. I find that responses across firm size match the incentive differences. Thus firms appear to be rational as well as fully informed. The most pronounced adverse es from large firms. Firms with more than 100 employees reversed a trend of increasing employment at a rate of weeks worked per year prior to CRA91 to a trend of decreasing employment at a rate of ) weeks per year. Since this group employs % of the workforce, this has a profound impact on opportunities for protected groups.
JEL CLASSIFICATION: J7, L2.
1. Introduction
Small businesses are considered to be a vital force in the United States economy, providing a mechanism for innovation, job creation and labor force mobility (US SBA, 1998, 1999, 2001), and serving as the backbone of full and petition (Public Law 85–536). But it is also felt that small firms may be disadvantaged relative to large firms in accessing physical and financial markets and in accessing the policy making process (US SBA, 2001). The record certainly indicates that small firms incur some form of disadvantage. Studies consistently show high failure rates for new and
small firms relative to their older and larger counterparts. Given the higher failure rates much of the economic contribution of small firms e from firms who enter for a brief period then exit. It is unclear whether such transient participation is a good thing or bad thing for social welfare
though at least one study is trying to tackle that question (Knott and Posen, 2004). Despite the fact that small firm contributions e from transient firms and despite the fact that the economy enjoys the benefits in the presence of whatever disadvantages small firms fac