Bibliographic record
Abstract
The extent to which firm ownership is concentrated or dispersed varies considerably from country to country. Explanations based on differences in the protection of minor-ity shareholders leave a significant part of the variance unexplained. This paper offers a novel explanation for the variation in ownership concentration across countries based on differences in the quality of labor relations. We show empirically that countries in which labor relations are hostile tend to have more concentrated ownership. These results con-tinue to hold when we instrument labor relations using religion, which has been argued is a key factor in the history of European labor organizations. We find similar results using historical data for Canada, documenting a surprisingly strong correlation between strike activity and ownership concentration over the past 50 years. Theoretically, we show that these findings are consistent with a simple model of repeated wage bargaining under asymmetric information in which labor relations and ownership concentration are jointly determined.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.008 | 0.056 |
| Meta-epidemiology (narrow) | 0.001 | 0.001 |
| Meta-epidemiology (broad) | 0.001 | 0.001 |
| Bibliometrics | 0.006 | 0.010 |
| Science and technology studies | 0.004 | 0.002 |
| Scholarly communication | 0.007 | 0.007 |
| Open science | 0.003 | 0.005 |
| Research integrity | 0.002 | 0.003 |
| Insufficient payload (model declined to judge) | 0.418 | 0.171 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; the direct Gemma label and the distilled Codex classifier agree on what is shown here.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".