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Divide and Privatize: Firm Break-up and Performance

Kocenda, Evžen; Hanousek, Jan - CESifo - 2011

We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based on a unique data set for a large number of Czech firms spanning the period 1996–2005. We employ a propensity score matching procedure to deal with endogeneity problems. Our...

Persistent link: https://www.econbiz.de/10009024846

International Trade, Factor Mobility and the Persistence of Cultural-Institutional Diversity

Belloc, Marianna; Bowles, Samuel - CESifo - 2009

Cultural and institutional differences among nations may result in differences in the ratios of marginal costs of goods in autarchy and thus be the basis of specialization and comparative advantage, as long as these differences are not eliminated by trade. We provide an evolutionary model of...

Persistent link: https://www.econbiz.de/10005013942

Level r Consensus and Stable Social Choice

Mahajne, Muhammad; Nitzan, Shmuel; Volij, Oscar - CESifo - 2014

We propose the concept of level r consensus as a useful property of a preference profile which considerably enhances … the stability of social choice. This concept involves a weakening of unanimity, the most extreme form of consensus. It is … shown that if a preference profile exhibits level r consensus around a given preference relation, the associated majority …

Persistent link: https://www.econbiz.de/10010877963

Determinants of Survival of Newly Created SMEs in the Brazilian Manufacturing: An Econometric Study

Facanha, Luis Otávio; Resende, Marcelo; Cardoso, Vicente - CESifo - 2012

The paper investigates the survival of newly created small and medium enterprises in Brazilian manufacturing taking as reference the 1996-2005 period. The econometric analysis relies on time-varying version of the proportional hazard rate model that controls for unobserved heterogeneity. The...

Persistent link: https://www.econbiz.de/10009645649

Adoption and Diffusion of Health Information Technology - The Case of Primary Care Clinics

Callaway, Brant; Ghosal, Vivek - CESifo - 2012

We empirically examine the determinants of adoption of information technology by primary healthcare clinics using a large sample of physician clinics from several States in the U.S. Ours is one of the first studies to intensively investigate primary care clinics. These clinics are important as...

Persistent link: https://www.econbiz.de/10010570052

Corporate Governance Reforms, Interlocking Directorship Networks and Company Value in Italy (1998-2007)

Drago, Carlos; Millo, Francesco; Ricciuti, Roberto; … - CESifo - 2011

In this paper we contribute to the literature on the structure of interlocking directorship networks and to the literature on the relationship between corporate governance and performance. We use a unique dataset made of corporate governance variables related to the board size and interlocking...

Persistent link: https://www.econbiz.de/10008833897

Estimating Fluctuations in Oil and Gas Investment

Dahl, Roy Endré; Osmundsen, Petter - CESifo - 2014

Governments in extraction countries are anxious to estimate expected investment in development projects, since they represent an essential element of the macro economy. The overall level of activity is also crucial to oil companies, since the macro picture affects cost levels, the supplies...

Persistent link: https://www.econbiz.de/10010948869

Petroleum Taxation and Investment Behaviour

Osmundsen, Petter; Emhjellen, Magne; Johnsen, Thore; … - CESifo - 2014

Petroleum administration can be regarded as a principal-agent problem. The government allocates exploration and production rights to petroleum companies on behalf of the population. The government is the principal and the companies are agents. With the aim of capturing revenue for the state, the...

Persistent link: https://www.econbiz.de/10010948872

CCS - Failing to Pass Decision Gates

Emhjellen, Magne; Osmundsen, Petter - CESifo - 2014

There is a planning gap for CCS projects in Europe. CCS demonstration plants are not implemented as expected. This fact is at odds with optimistic valuation reports that apply socio-economic valuation criteria for climate projects. However, CCS plants are in most cases to be implemented by...

Persistent link: https://www.econbiz.de/10010888457

Valuation of International Oil Companies –The RoACE Era

Osmundsen, Petter; Asche, Frank; Misund, Bård; Mohn, Klaus - CESifo - 2005

High oil prices are normally expected to stimulate exploration and the development of new oil and gas fields. But over the last few years, financial analysts have focused strongly on short-term accounting return (RoACE) for benchmarking and valuation, and this has led to high capital discipline...

Persistent link: https://www.econbiz.de/10005406311