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Horizontal Merger under Strategic Tax Policy
Liu, Chih-Chen; Mukherjee, Arijit; Wang, Leonard F.S. - CESifo - 2014
We show that the presence of a strategic tax policy increases the incentive for a horizontal merger compared to the … a horizontal merger that has been ignored in the existing literature. In contrast to the usual belief, we also show that … a horizontal merger may benefit the consumers and the society. …
Persistent link: https://www.econbiz.de/10010948827
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Driven by the Discount Factor: Impact of Mergers on Market Performance in the Semiconductor Industry
Harris, Jeremiah; Siebert, Ralph - CESifo - 2015
This study investigates the impact of firm-specific discount factors on merger formation and market performance. We … explain merger formation and the impact on product market performance. More specifically, we find that acquiring firms …
Persistent link: https://www.econbiz.de/10011163068
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How Much Sunlight Does it Take to Disinfect a Boardroom? A Short History of Executive Compensation Regulation
Dew-Becker, Ian - CESifo - 2008
This paper reviews the history of executive compensation disclosure and other government policies affecting CEO pay, and as well surveys the literature on the effects of these policies. Disclosure has increased nearly uniformly since 1933. A number of other regulations, including special taxes...
Persistent link: https://www.econbiz.de/10005181351
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What Do Labor Market Institutions Do?
Holmlund, Bertil - CESifo - 2014
offers a brief overview and discussion of research on the labor market impacts of minimum wages (MW), unemployment insurance … result of frequent failures to find noticeable employment effects despite considerable effects on wages. EPL research has …
Persistent link: https://www.econbiz.de/10010735188
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Ethnic Divisions and Production in Firms
Hjort, Jonas - CESifo - 2013
A body of literature suggests that ethnic heterogeneity limits economic growth. This paper provides microeconometric evidence on the direct effect of ethnic divisions on productivity. In team production at a plant in Kenya, an upstream worker supplies and distributes flowers to two downstream...
Persistent link: https://www.econbiz.de/10010706000
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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
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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
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Size Matters! Body Height and Labor Market Discrimination: A Cross-European Analysis
Cinnirella, Francesco; Winter, Joachim - CESifo - 2009
Taller workers earn on average higher salaries. Recent research has proposed cognitive abilities and social skills as explanations for the height-wage premium. Another possible mechanism, employer discrimination, has found little support. In this paper, we provide some evidence in favor of the...
Persistent link: https://www.econbiz.de/10005029260
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Competition in the Presence of Individual Demand Uncertainty
Möller, Marc; Watanabe, Makoto - CESifo - 2013
This paper sheds light on an empirical controversy about the effect of competition on price discrimination. We introduce individual demand uncertainty into Hotelling’s model of product differentiation and show that firms offer advance purchase discounts. Consumers choose between an early...
Persistent link: https://www.econbiz.de/10010877946
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Union Bargaining Power and Product Innovation: Relevance of the Preference Function
Basak, Debasmita; Hoefele, Andreas; Mukherjee, Arijit - CESifo - 2014
We show the effects of the bargaining power of labour unions on product innovation under decentralised and centralised wage bargaining. In this context, we show the implications of preference function, which affects the market size. A higher union bargaining power increases innovation if...
Persistent link: https://www.econbiz.de/10010948850