Sectoral Booms and Misallocation of Managerial Talent: Evidence from the Chinese Real Estate Boom

Sectoral Booms and Misallocation of Managerial Talent: Evidence from the Chinese Real Estate Boom
This paper identifies a new mechanism leading to inefficiency in capital reallocation at the extensive margin when an economy experiences a sectoral boom. I argue that imperfections in the financial market and capital barriers to entry in the booming sector create a misallocation of managerial talent. Using comprehensive firm-level data from... READ MORE...

Publication date: September 2018
ISBN 9781484378465
$18.00

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Publication date: September 2018

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