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Library/Human capital and performance after a leadership change

E5FT50

Capitalists in the twenty-first century

Smith, M., Yagan, D., Zidar, O., & Zwick, E. (2019)

Quarterly Journal of Economics, 134(4), 1675-1745

US tax data linking 11 million firms to owners. Top pass-through profit accrues to working-age owners of closely held mid-market firms in skill-intensive industries, and profit falls by three-quarters after owner retirement or premature death. Strong US evidence that much of a private firm's profit is tied to the owner and may not transfer to a buyer.

Sourcedoi:10.1093/qje/qjz020261 citations (OpenAlex)

Full citation

Smith, M., Yagan, D., Zidar, O., & Zwick, E. (2019). Capitalists in the twenty-first century. Quarterly Journal of Economics, 134(4), 1675-1745.

https://doi.org/10.1093/qje/qjz020

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