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The Signaling Role of Corporate Social Responsibility

Blumkin, Tomer; Margalioth, Yoram; Sharoni, Adi - CESifo - 2014

We examine the role of CSR as a mechanism for private provision of public goods. We argue that corporations are using CSR to signal high product quality and demonstrate that signaling gives rise to an excessive level of contributions that offsets the positive externality, which causes the...

Persistent link: https://www.econbiz.de/10010948835

Corporate Philanthropy and Productivity: Evidence from an Online Real Effort Experiment

Tonin, Mirco; Vlassopoulos, Michael - CESifo - 2014

Contributing to a social cause can be an important driver for workers in the public and non-profit sector as well as in firms that engage in Corporate Philanthropy or other Corporate Social Responsibility policies. This paper compares the effectiveness of social incentives - that take the form...

Persistent link: https://www.econbiz.de/10010764293

Does Debt Maturity Matter for Investment Decisions?

Nam, Chang Woon; Radulescu, Doina Maria - CESifo - 2004

In the conventional literature related to investment decisions, less attention has been paid to the length of maturity … cost at the end of the borrowing period. In this study, the effects of selecting different maturity years on firms … suggest that (1) ceteris paribus an optimum maturity year appears to exist that maximises the NVP, and (2) the change of …

Persistent link: https://www.econbiz.de/10005181322

Long-Term Interest Rates and Public Debt Maturity

Sakalauskaite, Ieva; Beetsma, Roel; Giuliodori, Massimo - CESifo - 2013

the maturity of the public debt by one year lowers its long-term interest rate by around 20-30 basis points. This effect …

Persistent link: https://www.econbiz.de/10010697222

The Commitment Role of Equity Financing

Fahn, Matthias; Merlo, Valeria; Wamser, Georg - CESifo - 2014

Existing theories of a firm’s optimal capital structure seem to fail in explaining why many healthy and profitable firms rely heavily on equity financing, even though benefits associated with debt (like tax shields) appear to be high and the bankruptcy risk low. This holds in particular for...

Persistent link: https://www.econbiz.de/10010877665

A Race beyond the Bottom: The Nature of Bidding for a Firm

Furusawa, Taiji; Hori, Kazumi; Wooton, Ian - CESifo - 2010

We examine how the bidding environment may affect the outcome of tax competition between two countries (or two regions) in attracting a firm’s foreign direct investment (FDI).We compare the equilibrium location choice and payoffs from an English auction, with both complete and incomplete...

Persistent link: https://www.econbiz.de/10008533990

When Ignorance is Bliss - Information Asymmetries Enhance Prosocial Behavior in Dictator Games

Winschel, Evguenia; Zahn, Philipp - CESifo - 2014

In most laboratory experiments concerning prosocial behavior subjects are fully informed how their decision influences the payoff of other players. Outside the laboratory, however, individuals typically have to decide without such detailed knowledge. To assess the effect of information...

Persistent link: https://www.econbiz.de/10010877838

Price Discrimination in Input Markets: Quantity Discounts and Private Information

Herweg, Fabian; Müller, Daniel - CESifo - 2013

We consider a monopolistic supplier’s optimal choice of wholesale tariffs when downstream firms are privately informed about their retail costs. Under discriminatory pricing, downstream firms that differ in their ex ante distribution of retail costs are offered different tariffs. Under uniform...

Persistent link: https://www.econbiz.de/10010877898

To Commit or not to Commit? An Experimental Investigation of Pre-Commitments in Bargaining Situations with Asymmetric Information

Hoffmann, Sönke; Mihm, Benedikt; Weimann, Joachim - CESifo - 2014

In a recent paper Konrad and Thum (2014) present a model that shows that unilateral pre-commitment reduces the likelihood of agreement in bilateral negotiations over the provision of a public good when parties have private information over their contribution costs. We test the model in a...

Persistent link: https://www.econbiz.de/10010877951

Donating Time or Money: Are they Substitutes or Complements?

Hartmann, Bastian; Werding, Martin - CESifo - 2012

Decisions to donate time or money for charitable purposes are typically seen as make-or-buy decisions, implying that there should be a clear distinction between individuals engaging in one of these two forms of giving and that this distinction should be somehow linked to opportunity costs. But...

Persistent link: https://www.econbiz.de/10010555695