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David Thesmar

Professor of Finance · MIT Sloan School of Management

Franco Modigliani Professor of Financial Economics and Professor of Finance at MIT Sloan. Research covers corporate finance, financial intermediation, entrepreneurship and behavioral economics.

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Published Quarterly Journal of Economics Online 24 Apr 2026 Published Jul 2026

The Effects of Mandatory Profit-Sharing on Workers and Firms: Evidence from France

Elio Nimier-David · David Sraer · David Thesmar

This paper studies the causal effects of mandatory profit-sharing on workers and firms using a quasi-experimental design arising from a 1990 French reform that lowered the eligibility threshold for …

Labor Markets Public Finance Inequality Free Read ↗