The Firm's Management in Production: Management, Firm, and Time Effects in an Indian Ocean Tuna Fishery
Résumé
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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