The Firm's Management in Production: Management, Firm, and Time Effects in an Indian Ocean Tuna Fishery
2013
Wolff, François-Charles | Squires, Dale | Guillotreau, Patrice
Exploiting variability in the managerial dimension, this paper presents firm management through firm and time effects in a production function that uses a three‐way fixed effect model and a unique panel dataset that tracks multiple managers for each firm from 1980–2007. We allow for time‐varying firm management through learning. The model is applied to the French purse‐seine fleet harvesting tuna in the Indian Ocean. We find that skippers' learning‐by‐doing as measured by experience and job tenure plays no significant role, meaning that managerial ability is time‐invariant.
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