Similar Search Results

Does the Separation of Regulatory Powers Reduce the Threat of Capture? Evidence from the US Maritime Bureaucracy

Uribe, Marín; Luis, Pedro; Sicotte, Richard - C.E.P.R. Discussion Papers - 2003

Recent economic theories have investigated the susceptibility of diverse public bureaucratic structures to capture by … private industry. In particular, Laffont and Martimort (1999) propose that the separation of regulatory powers will reduce the … threat of capture. We analyse investor reaction to a reorganization of the United States maritime bureaucracy that created …

Persistent link: https://www.econbiz.de/10005504380

Managerial Incentives and Stock Price Manipulation

Peng, Lin; Röell, Ailsa A - C.E.P.R. Discussion Papers - 2009

This paper presents a rational expectations model of optimal executive compensation in a setting where managers are in a position to manipulate short-term stock prices, and managers' propensity to manipulate is uncertain. Stock-based incentives elicit not only productive effort, but also costly...

Persistent link: https://www.econbiz.de/10005014567

Natural Resources and Reforms

Amin, Mohammad; Djankov, Simeon - C.E.P.R. Discussion Papers - 2009

We use a sample of 133 countries to investigate the link between the abundance of natural resources and micro-economic reforms. Previous studies suggest that natural resource abundance gives rise to governments that are less accountable to the public, states that are oligarchic, and that it...

Persistent link: https://www.econbiz.de/10005666720

Deregulation of Business

Yakovlev, Evgeny; Zhuravskaya, Ekaterina - C.E.P.R. Discussion Papers - 2007

registration, licensing, and inspections. Based on the analysis of micro-level panel data on regulatory burden, we find that: 1) On …

Persistent link: https://www.econbiz.de/10005667109

Strategic Behaviour under European Antidumping Rules

Pauwels, Wilfried; Vandenbussche, Hylke; Weverbergh, Marcel - C.E.P.R. Discussion Papers - 1997

This paper analyses how European anti-dumping policy under imperfect competition affects firm behaviour and domestic welfare. Our theoretical model is the first to complement the European empirical literature on anti-dumping policy (see Messerlin (1989), Hindley (1988), Tharakan and Waelbroeck...

Persistent link: https://www.econbiz.de/10005791229

Objectivity, Proximity and Adaptability in Corporate Governance

Boot, Arnoud W A; Macey, Jonathon - C.E.P.R. Discussion Papers - 1999

Countries appear to differ considerably in the basic orientations of their corporate governance structures. We postulate the trade-off between objectivity and proximity as fundamental to the corporate governance debate. We stress the value of objectivity that comes with distance (e.g. the market...

Persistent link: https://www.econbiz.de/10005791601

The Dynamics of Technological Adoption in Hardware/Software Systems: The Case of Compact Disc Players

Gandal, Neil; Kirkwood MP, Archy; Rob, Rafael - C.E.P.R. Discussion Papers - 1999

In this paper we examine the diffusion of a hardware/software system. For such systems there is interdependence between the hardware adoption decisions of consumers and the supply decisions of software manufacturers. Hence there can be bottlenecks to the diffusion of the system which stem not...

Persistent link: https://www.econbiz.de/10005123748

Bankruptcy Codes and Innovation

Acharya, Viral V; Subramanian, Krishnamurthy - C.E.P.R. Discussion Papers - 2007

Do legal institutions governing financial contracts affect the nature of real investments in the economy? We develop a simple model and provide evidence that the answer to this question is yes. We consider a levered firm's choice of investment between innovative and conservative technologies, on...

Persistent link: https://www.econbiz.de/10005136739

Advertising Bans

Motta, Massimo - C.E.P.R. Discussion Papers - 1997

This paper shows that an advertising ban is more likely to increase – rather than decrease – total consumption when advertising does not bring about a large expansion of market demand at given prices and when it increases product differentiation (thus allowing firms to command higher...

Persistent link: https://www.econbiz.de/10005656386

The Political Economy of State Aids in the European Community: Some Econometric Evidence

Neven, Damien J - C.E.P.R. Discussion Papers - 1994

capture. …

Persistent link: https://www.econbiz.de/10005788879