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Is the reputation of a firm tradeable when the previous owner has to retire even though ownership change is observable? We consider a competitive market in which a share of owners must retire in each period. New owners, observing only recent profits, bid for the firms on sale. Customers are...
Persistent link: https://www.econbiz.de/10005405863
Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...
Persistent link: https://www.econbiz.de/10010604419
Management research has long focused on the theory of the firm, studying for-profit organizations that produce privately owned resources based on central authority and within well-defined boundaries. In recent times, a new kind of enterprise has emerged that we call Community Enterprises. They...
Persistent link: https://www.econbiz.de/10009020794
Recent literature proposes many variables as significant determinants of pollution. This paper gives an overview of … this literature and asks which of these factors have an empirically robust impact on water and air pollution, i.e. do not … water pollution. …
Persistent link: https://www.econbiz.de/10005406345
We study (energy) markets with dirty incumbents and costly entry by clean producers. For intermediate entry costs, the market outcome exhibits inefficient production and inefficient entry. A policy mix of three popular regulatory instruments—taxation on polluters, feed-in tariffs for clean...
Persistent link: https://www.econbiz.de/10010765499
either mitigate the health consequences of domestic pollution privately or reduce pollution collectively through public … ordinary citizens. The recognition that the health consequences of pollution can be dealt with privately at a cost adds an … private mitigation is feasible, inequality of incomes leads to an unequal distribution of the health burden of pollution (in …
Persistent link: https://www.econbiz.de/10008727301
Pollution from power stations is a growing problem in many developing nations. The Philippines is no exception and many … economic costs and benefits are weighed up, there are ways to reduce pollution that make sense for society as a whole. The … significant pollution reductions and bring equally significant health gains. The study also found that the potential economic …
Persistent link: https://www.econbiz.de/10004964183
The study assesses the impact of trade reforms in the Philippines on pollution using computable general equilibrium … (CGE) model simulations. It focuses on the manufacturing industry and its pollution effects and examines whether trade … that trade reform is output augmenting and income improving. The overall impact on pollution is very little. The overall …
Persistent link: https://www.econbiz.de/10005002539
coal-powered electricity generation. This, in turn, has led to an increase in pollution and environmental destruction. This …. To deal with this problem, the study proposes that the costs of dealing with pollution and other environmental problems …
Persistent link: https://www.econbiz.de/10005002594
Pollution is recognized as one of the biggest environmental challenges facing China as the country pushes to modernize … and develop its economy. Many major waterways are in unhealthy condition and air pollution now affects almost all of the … protection policies. Among the most important market-based anti-pollution policies in the country is the Pollution Charge System …
Persistent link: https://www.econbiz.de/10005002602