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Guadalupe, Maria; Kuzmina, Olga; Thomas, Catherine - C.E.P.R. Discussion Papers - 2010

product and process innovation (simultaneously adopting new machines and organizational practices) and adopt foreign … technologies, leading to higher productivity. We propose a model of endogenous selection and innovation in heterogeneous firms that … jointly explains the observed selection process and the innovation decisions. Further, we show in the data that innovation on …

Persistent link: https://www.econbiz.de/10008784754

Investments in Pharmaceuticals Before and After TRIPS

Kyle, Margaret K; McGahan, Anita M - C.E.P.R. Discussion Papers - 2011

This paper addresses the relationship between patent protection and investment in the development of new pharmaceutical treatments. The TRIPS Agreement, which specifies minimum levels of intellectual property protection for countries in the World Trade Organization, has increased levels of...

Persistent link: https://www.econbiz.de/10009002387

On the Role of Bank Competition for Corporate Finance and Corporate Control in Transition Economies

Schnitzer, Monika - C.E.P.R. Discussion Papers - 1998

Banks play a central role in financing and monitoring firms in transition economies. This study examines how bank competition affects the efficiency of credit allocation; monitoring of firms; and the firms' restructuring effort. In our model, banks compete to finance an investment project with...

Persistent link: https://www.econbiz.de/10005792444

Bank Competition and Enterprise restructuring in Transition Economies

Schnitzer, Monika - C.E.P.R. Discussion Papers - 1998

We investigate how bank competition affects the efficiency of credit allocation, using a model of spatial competition. Our analysis shows that bad loans are more likely the larger the number of banks competing for customers. We study further how many banks will be active if market entry is not...

Persistent link: https://www.econbiz.de/10005067568

Outside Finance, Dominant Investors and Strategic Transparency

Perotti, Enrico C; von Thadden, Ernst-Ludwig - C.E.P.R. Discussion Papers - 2001

This Paper studies the incentives for transparency under different forms of corporate governance in a context of product market competition. This Paper endogenizes the governance and financial structure of firms and determines a strategic decision on the degree of transparency in a context of...

Persistent link: https://www.econbiz.de/10005656269

Mergers with Product Market Risk

Banal-Estanol, Albert; Ottaviani, Marco - C.E.P.R. Discussion Papers - 2005

This Paper studies the private incentives and the social effects of horizontal mergers among risk-averse firms. In our model, merging firms are allowed to choose how to split their joint profits, with implications for risk sharing and strategic behaviour in the product market. If firms compete...

Persistent link: https://www.econbiz.de/10005114318

Dominant Investors and Strategic Transparency

Perotti, Enrico C; von Thadden, Ernst-Ludwig - C.E.P.R. Discussion Papers - 1998

This paper studies product market competition under a strategic transparency decision. Dominant investors can influence information collection in the financial market, and thereby corporate transparency, by affecting market liquidity or the cost of information collection. More transparency on a...

Persistent link: https://www.econbiz.de/10005114392

Unionization Structures and Innovation Incentives

Haucap, Justus; Wey, Christian - C.E.P.R. Discussion Papers - 2003

This Paper examines how different unionization structures affect firms' innovation incentives and industry employment …: ‘decentralization’ carries higher investment incentives than ‘coordination’. Labour market policy can spur innovation by decentralizing …

Persistent link: https://www.econbiz.de/10005667024

Industry Concentration and Welfare - On the Use of Stock Market Evidence from Horizontal Mergers

Fridolfsson, Sven-Olof; Stennek, Johan - C.E.P.R. Discussion Papers - 2006

possible reconciliation. It is demonstrated that anticompetitive mergers may reduce competitors' share prices, if the merger …

Persistent link: https://www.econbiz.de/10005497962

Religion and Innovation

Bénabou, Roland; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2015

individual level, examining the relationship between religiosity and a broad set of pro- or anti-innovation attitudes in all five … waves of the World Values Survey (1980 to 2005). We thus relate eleven indicators of individual openness to innovation … innovation. …

Persistent link: https://www.econbiz.de/10011213308

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