Showing 1 - 6 of 6
Contracts often reward inefficient tasks and are not enforced ex post. We provide a new explanation based on the relationship between explicit contracts and implicit agreements, distinguishing the ex-ante decision to sign a contract from the ex-post decision whether to apply it. We show that it...
Persistent link: https://www.econbiz.de/10008854495
properly designed - leniency may simultaneously provide an effective governance mechanism for occasional sequential illegal …
Persistent link: https://www.econbiz.de/10005124229
reciprocal exchange to lifetime employment, from relational governance to corruption/collusion. We study how agents …
Persistent link: https://www.econbiz.de/10005136656
Recent events in several countries have underscored the importance of good governance in private occupational pension …. Under complete contracting, governance can be shown to be neutral: DC and DB plans differ only on risk allocation. If …
Persistent link: https://www.econbiz.de/10005497828
Globalization, governance and economic performance affect each other in very complex mutual relationships. In this … Paper, we establish a clear and well-circumscribed hypothesis: ‘Is there an effect of globalization on governance?’ To test … available theoretical explanations of causal relationships between globalization and governance. Microeconomic theory helps us …
Persistent link: https://www.econbiz.de/10005114501
Recent research on central bank governance has focused mainly on their monetary policy task. As the sub-prime loan … also in ensuring their soundness and stability. In this paper we study the specific corporate governance structures of a … public governance literatures, where present. Our analysis highlights a striking variety in central bank governance …
Persistent link: https://www.econbiz.de/10005656403