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Ownership and Control of German Corporations

Franks, Julian R; Mayer, Colin - C.E.P.R. Discussion Papers - 2001

pyramid structures can be used for control purposes. The static relation of ownership to control in Germany is therefore … is an active market in share blocks giving rise to changes in control, but the gains are limited and accrue solely to the … holders of large blocks, not to minority investors. We provide evidence of low overall benefits from control changes and the …

Persistent link: https://www.econbiz.de/10005666867

Screening, Competition, and Job Design: Economic Origins of Good Jobs

Bartling, Björn; Fehr, Ernst; Schmidt, Klaus M. - C.E.P.R. Discussion Papers - 2010

implement a control strategy, which consists of low effort discretion and little or no rent-sharing, or they implement a trust … control strategy prevails, while the possibility of screening renders the trust strategy profitable. The introduction of …

Persistent link: https://www.econbiz.de/10008468606

The Origination and Evolution of Ownership and Control

Franks, Julian R; Mayer, Colin; Rossi, Stefano - C.E.P.R. Discussion Papers - 2003

the subsequent 100 years, and comparing the pattern of ownership and control with a sample incorporated around 1960. We …

Persistent link: https://www.econbiz.de/10005123634

Distrust - The Hidden Cost of Control

Falk, Armin; Kosfeld, Michael - C.E.P.R. Discussion Papers - 2004

principals who control. The reason is that most agents lower their performance as a response to the signal of distrust created by …

Persistent link: https://www.econbiz.de/10005124063

Who Disciplines Management in Poorly Performing Companies?

Franks, Julian R; Mayer, Colin; Renneboog, Luc - C.E.P.R. Discussion Papers - 2001

restructuring, investors focus control on poorly performing companies. These results stand in contrast to the US, where there is …

Persistent link: https://www.econbiz.de/10005124256

Institutions and the Historical Roots of Latin American Divergence

Bértola, Luis - C.E.P.R. Discussion Papers - 2010

In this essay we analyze the relation between long-term growth and institutional development. Relative backwardness has been a constant feature of the history of Latin America. In the wake of Independence the gap between Latin America and the industrializing world was already wide and widened...

Persistent link: https://www.econbiz.de/10008468602

Networks of Relations and Social Capital

Lippert, Steffen; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2005

We model networks of relational (or implicit) contracts, exploring how sanctioning power and equilibrium conditions change under different network configurations and information transmission technologies. In our model relations are the links, and the value of the network lies in its ability to...

Persistent link: https://www.econbiz.de/10005114333

Job Matching, Social Network and Word-of-Mouth Communication

Calvó-Armengol, Antoni; Zenou, Yves - C.E.P.R. Discussion Papers - 2001

In our model, workers are embedded within a network of social relationships and can communicate through word-of-mouth. They can find a job either through formal agencies or through informal networks of contacts (word-of-mouth communication). From this micro scenario, we derive an aggregate...

Persistent link: https://www.econbiz.de/10005789195

Network Dynamics and Knowledge Transfer in Virtual Organizations: Overcoming the Liability of Dispersion

Gandal, Neil; Stettner, Uriel - C.E.P.R. Discussion Papers - 2014

Product development within and across community-based and geographically dispersed virtual organizations is becoming an increasingly important mechanism through which individual knowledge holders create and disseminate knowledge in joint efforts to generate products. Without the benefits of...

Persistent link: https://www.econbiz.de/10011083814

Peer Effects, Risk Pooling, and Status Seeking: What Explains Gift Spending Escalation in Rural China?

Chen, Xi; Kanbur, Ravi; Zhang, Xiaobo - C.E.P.R. Discussion Papers - 2012

It has been widely documented that the poor spend a significant proportion of their income on gifts even at the expense of basic consumption. We test three competing explanations of this phenomenon--peer effect, status concern, and risk pooling--based on a census-type primary household survey in...

Persistent link: https://www.econbiz.de/10011084405