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Determinants of Voluntary Bank Disclosure: Evidence from Japanese Shinkin Banks

Spiegel, Mark M.; Yamori, Nobuyoshi - CESifo - 2004

Disclosure is widely regarded as a necessary condition for market discipline in a modern financial sector. However, the … determinants of disclosure decisions are still unknown, particularly among banks. This paper investigates the determinants of … disclosure by Japanese Shinkin banks in 1996 and 1997. This period is unique because disclosure of non-performing loans was …

Persistent link: https://www.econbiz.de/10005406090

Communicating Subjective Evaluations

Lang, Matthias - CESifo - 2014

Should principals explain and justify their evaluations? Suppose the principal’s evaluation is private information, but she can provide justification by sending a costly cheap-talk message. If she does not provide justification, her message space is restricted, but the message is costless. I...

Persistent link: https://www.econbiz.de/10010781550

Strategic Complementarity, Fragility, and Regulation

Vives, Xavier - CESifo - 2011

disclosure or introducing a derivatives market may backfire, aggravating fragility (in particular when the asset side of a … financial intermediary is opaque); the regulator should set together disclosure and prudential policy. The model is applied to …

Persistent link: https://www.econbiz.de/10009144883

An Empirical Analysis of Legal Insider Trading in the Netherlands

Degryse, Hans; Jong, Frank de; Lefebvre, Jérémie - CESifo - 2009

In this paper, we employ a registry of legal insider trading for Dutch listed firms to investigate the information content of trades by corporate insiders. Using a standard event-study methodology, we examine short-term stock price behavior around trades. We find that purchases are followed by...

Persistent link: https://www.econbiz.de/10005034632

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

Optimum Commodity Taxation in Pooling Equilibria

Sheshinski, Eytan - CESifo - 2006

This paper extends the standard model of optimum commodity taxation (Ramsey (1927) and Diamond-Mirrlees (1971)) to a competitive economy in which some markets are inefficient due to asymmetric information. As in most insurance markets, consumers impose varying costs on suppliers but firms cannot...

Persistent link: https://www.econbiz.de/10005766269