Showing 1 - 10 of 182
government regulation may reduce transaction costs, intensifying the competition associated with a given market structure, and we … use data from the recently liberalized and regionally diverse country of Russia to test the hypothesis. Estimating …
Persistent link: https://www.econbiz.de/10005504465
substitutability of market competition and private ownership in increasing firm efficiency. We analyse a simple Cournot model that … competition, and thus that competition only among state-owned enterprises may be ineffectual in stimulating them to increase …
Persistent link: https://www.econbiz.de/10005114270
impact of several dimensions of market competition and other factors on enterprise efficiency. We analyse 1992-1998 panel …, intensity, time path, and survival effects of competitive pressures. We find large, positive effects on TFP from competition in …
Persistent link: https://www.econbiz.de/10005661595
In this paper we examine the causal impact of competition on management quality. We analyze the hospital sector where … geographic proximity is a key determinant of competition, and English public hospitals where political competition can be used to … management quality - measured using a new survey tool - is strongly correlated with financial and clinical outcomes such as …
Persistent link: https://www.econbiz.de/10008468548
We model technological and financial innovation as reflecting the decisions of profit maximizing agents and explore the implications for economic growth. We start with a Schumpeterian endogenous growth model where entrepreneurs earn monopoly profits by inventing better goods and financiers arise...
Persistent link: https://www.econbiz.de/10008528522
We study a continuous time model of a levered firm with fixed assets generating a cash flow that fluctuates with business conditions. Since external finance is costly, the firm holds a liquid (cash) reserve to help survive periods of poor business conditions. Holding liquid assets inside the...
Persistent link: https://www.econbiz.de/10005123584
intervention affects the supply of productive inputs by management. We show that both the advantage and the disadvantage of public … a firm’s shareholder base. This exposes management to uncertainty regarding the identity of future shareholders and … their extent of intervention in management decisions and in turn curtails managerial incentives. By contrast, because of its …
Persistent link: https://www.econbiz.de/10005123967
When a young entrepreneurial firm matures, it is often necessary to replace the founding entrepreneur by a professional manager. This replacement decision can be affected by the private benefits of control enjoyed by the entrepreneur which gives rise to a conflict of interest between the...
Persistent link: https://www.econbiz.de/10005124147
This Paper analyses the transmission mechanisms of monetary policy in a general equilibrium model of securities markets and banking with asymmetric information. Banks' optimal asset/liability policy is such that in equilibrium capital adequacy constraints are always binding. Asymmetric...
Persistent link: https://www.econbiz.de/10005136682
To prevent profit shifting by manipulation of transfer prices, tax authorities typically apply the arm's length principle in corporate taxation and use comparable market prices to `correctly' assess the value of intracompany trade and royalty income of multinationals. We develop a model of...
Persistent link: https://www.econbiz.de/10005061477