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When Competitors Share Owners, They Automate More and Hire Less

Joseph Emmens, Dennis C. Hutschenreiter, Stefano Manfredonia, Felix Noth and Tommaso Santini
In a new paper, Joseph Emmens, Dennis C. Hutschenreiter, Stefano Manfredonia, Felix Noth, and Tommaso Santini find that when competitors for the same pool of workers share investors, they increase their innovation to automate tasks and slow down hiring.    

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