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Tirole, Jean - C.E.P.R. Discussion Papers - 1999

The paper first develops an economic analysis of the concept of shareholder value, describes its approach and discusses some open questions. It emphasizes the relationship between pledgeable income, monitoring and control rights using a unifying and simple framework. The paper then provides a...

Persistent link: https://www.econbiz.de/10005666704

Enterprise Finance and Investment in Listed Hungarian Firms

Perotti, Enrico C; Vesnaver, Luka - C.E.P.R. Discussion Papers - 2004

different ownership and governance structures. The empirical results indicate significant financial constraints even among the …

Persistent link: https://www.econbiz.de/10005791387

Governance Reform in Legal Service Markets

Grout, Paul A; Jewitt, Ian; Sonderegger, Silvia - C.E.P.R. Discussion Papers - 2006

This paper discusses proposed governance reforms of legal services markets. The model distinguishes between a status … quo position supported by a system of professionally enforced collective reputation and forms of governance based more …

Persistent link: https://www.econbiz.de/10005791750

Second-Best Institutions

Rodrik, Dani - C.E.P.R. Discussion Papers - 2008

The focus of policy reform in developing countries has moved from getting prices right to getting institutions right, and accordingly countries are increasingly being advised to move towards "best-practice" institutions. This paper argues that appropriate institutions for developing countries...

Persistent link: https://www.econbiz.de/10005791758

Club Enlargement: Early Versus Late Admittance

Burkart, Mike; Wallner, Klaus - C.E.P.R. Discussion Papers - 2000

We develop an incomplete contract model to analyse the enlargement strategy of a club. An applicant is characterized by his wealth and the degree of conformity with the club standard. The club gains only from a fully reformed new member, but reform is costly. The club chooses between early...

Persistent link: https://www.econbiz.de/10005791969

Bidding in Mandatory Bankruptcy Auctions: Theory and Evidence

Eckbo, B Espen; Thorburn, Karin S - C.E.P.R. Discussion Papers - 2005

We analyse bidding incentives and present evidence on takeover premiums in Sweden’s mandatory bankruptcy auctions. The typical auction attracts multiple bidders and results in the firm being sold as a going concern. We model the incentive of the bankrupt firm’s main creditor (a bank) to...

Persistent link: https://www.econbiz.de/10005792429

Maybe it is time to rediscover bureaucracy?

Olsen, Johan P. - ARENA - 2005

The paper questions the fashionable ideas, that bureaucratic organization is an obsolescent, undesirable and non-viable form of administration, and that there is an inevitable and irreversible paradigmatic shift towards market- or network organization. In contrast, the paper argues that...

Persistent link: https://www.econbiz.de/10005040201

Elements of a sociology of European integration

Trenz, Hans-Jörg - ARENA - 2008

How can sociology contribute to the understanding of the social and political transformations that are affecting contemporary Europe? The article proposes that sociological accounts of European integration should focus around the basic problem of internal differentiation and external adaptation...

Persistent link: https://www.econbiz.de/10005040207

Europeanization and multi-level governance: Empirical findings and conceptual challenges

Bache, Ian - ARENA - 2008

multi-level governance within member states and, if so, of what type(s), and through what processes. The empirical focus is …-level governance in the period of EU membership. The British case is analyzed in relation to developments across the EU. Thus, the main … purpose is to establish whether EU cohesion policy has promoted multi-level governance in Britain and other member states and …

Persistent link: https://www.econbiz.de/10005040223

Decentralised Integration as a New Model of Joint Exercise of Community Functions?

Chiti, Edoardo - ARENA - 2002

According to the original scheme of the ‘Founding Fathers’, the relations between supranational authorities and national administrations were to be characterised by a strict separation of their respective spheres of competence. This did in fact hold true, at least in the original treaties...

Persistent link: https://www.econbiz.de/10005040228