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Use and Abuse of Authority - A Behavioral Foundation of the Employment Relation

Bartling, Björn; Fehr, Ernst; Schmidt, Klaus - CESifo - 2013

Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...

Persistent link: https://www.econbiz.de/10010604419

Selling Reputation When Going out of Business

Hakenes, Hendrik; Peitz, Martin - CESifo - 2004

Is the reputation of a firm tradeable when the previous owner has to retire even though ownership change is observable? We consider a competitive market in which a share of owners must retire in each period. New owners, observing only recent profits, bid for the firms on sale. Customers are...

Persistent link: https://www.econbiz.de/10005405863

Community Enterprises - An Institutional Innovation

Frey, Bruno S.; Lüthi, Roger; Osterloh, Margit - CESifo - 2011

Management research has long focused on the theory of the firm, studying for-profit organizations that produce privately owned resources based on central authority and within well-defined boundaries. In recent times, a new kind of enterprise has emerged that we call Community Enterprises. They...

Persistent link: https://www.econbiz.de/10009020794

Prices vs. Quantities with Endogenous Cost Structure

Storrøsten, Halvor Briseid - CESifo - 2014

significant impact. Finally, either regulatory instrument may induce the highest technology investment levels. …

Persistent link: https://www.econbiz.de/10010877871

Abusive Transfer Pricing and Economic Activity

Nielsen, Søren Bo; Schindler, Dirk; Schjelderup, Guttorm - CESifo - 2014

We demonstrate that the choice of the transfer price and its effect on intra-firm trade and investment depends on the …

Persistent link: https://www.econbiz.de/10010948897

International Capital Markets, Oil Producers and the Green Paradox

Meijden, Gerard C. van der; Ploeg, Frederick Van der; … - CESifo - 2014

-period world with identical homothetic preferences and without investment, the global interest rate falls and the Green Paradox … weakens. With investment or a relatively more impatient oil-importing region, the Green Paradox may be strengthened because …

Persistent link: https://www.econbiz.de/10011264741

The Impact of Dividend Taxation on Dividends and Investment: New Evidence Based on a Natural Experiment

Kari, Seppo; Karikallio, Hanna; Pirttilä, Jukka - CESifo - 2009

There is a lack of clear evidence of the ways in which dividend taxation affects dividend distributions and investment …

Persistent link: https://www.econbiz.de/10005013938

Booms, Recessions and Financial Turmoil: A Fresh Look at Investment Decisions under Cyclical Uncertainty

Chen, Yu-Fu; Funke, Michael - CESifo - 2009

The paper studies the interaction between cyclical uncertainty and investment in a stochastic real option framework … of the link between cyclical uncertainty and investment is quantified using simulations of the model. The chief …

Persistent link: https://www.econbiz.de/10005013955

Powering Up Developing Countries through Integration?

Auriol, Emmanuelle; Biancini, Sara - CESifo - 2012

to invest compared to autarky. The investment levels remain inefficient though. With generation facilities over-investment … occurs sometimes, while systematic under-investment occurs for transportation facilities. Free-riding reduces the incentives … investment. …

Persistent link: https://www.econbiz.de/10010556079

Optimal Investment Strategies under Demand and Tax Policy Uncertainty

Boehm, Hjalmar; Funke, Michael - CESifo - 2000

In this paper we offer an analysis of the effects of uncertainty about future tax policy on irreversible investment …. The main message of the paper is that investment is not much affected by the degreee of tax policy uncertainty. This is … that reducing tax policy uncertainty is probably no magic bullet to increase private investment spending …

Persistent link: https://www.econbiz.de/10005765662