Highlights in my words.
Consider replacing a person without a business degree with someone who has one (bachelor’s, MBA, whatever).
1. Workers’ wages decrease.
2. Sales or profits do not increase.
3. Windfall profits are not shared with workers (non-business managers do).
4. They’re doing what they were taught in school.
Caveats about hard-to-wrangle data apply.
(2/4)
…
In their words:
"This paper provides evidence from the US and Denmark that managers with a business degree (“business managers”) reduce their employees' wages.”
"Exploiting exogenous export demand shocks, we show that non-business managers share profits with their workers, whereas business managers do not.”
"these business managers show no greater ability to increase sales or profits in response to exporting opportunities.”
(3/4)
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