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Size Matters: The Impact of Capital Market Liberalization on Individual Firms

Christoffersen, Peter; Chung, Hyunchul; Errunza, Vihang - Centre Interuniversitaire de Recherche en Analyse des … - 2003

, volatility, and return correlation from stock market liberalization in emerging markets? These questions have been studied … declines in volatility, and insignificant change in correlation from liberalization. Small firms show small revaluation effects …, improved performance, smaller decline in volatility and decreases in correlation after liberalization. These results hold after …

Persistent link: https://www.econbiz.de/10005100936

Bankruptcy Cost, Financial Structure and Technological Flexibility Choices

Boyer, Marcel; Jacques, Armel; Moreaux, Michel - Centre Interuniversitaire de Recherche en Analyse des … - 2001

We study the interactions between the capital structure and the technological flexibility choices of firms in a duopoly. When there are bankruptcy costs, a leveraged firm may modify its strategic choices in order to decrease its probability of bankruptcy. We show that, when the capacity level of...

Persistent link: https://www.econbiz.de/10005100547

R&D Spillovers and Location Choice under Cournot Rivalry

Long, Ngo Van; Soubeyran, Antoine - Centre Interuniversitaire de Recherche en Analyse des … - 1996

A model of location choice by Cournot oligopolists is presented, under the assumption that R&D spillovers depend on the distance between firms. We show that a variety of patterns emerge. Agglomeration is optimal under certain assumptions. Geographical dispersion in a two-dimensional plane is...

Persistent link: https://www.econbiz.de/10005100573

Selective Penalization Of Polluters: An Inf-Convolution Approach

Long, Ngo Van; Soubeyran, Antoine - Centre Interuniversitaire de Recherche en Analyse des … - 2002

In this paper, we consider an asymmetric polluting oligopoly: firms have different production costs, and their …

Persistent link: https://www.econbiz.de/10005100587

Efficiency Inducing Taxation for Polluting Oligopolists

Benchekroun, Hassan; Long, Ngo Van - Centre Interuniversitaire de Recherche en Analyse des … - 1997

We derive corrective tax rules when firms are oligopolists whose production processes generate emissions that add to a stock of pollution that accumulates over time. In our model, firms play dynamic Cournot games among themselves, and the government designs a tax rule that corrects for both the...

Persistent link: https://www.econbiz.de/10005100683

Cost Manipulation Games in Oligopoly, with Costs of Manipulating

Long, Ngo Van; Soubeyran, Antoine - Centre Interuniversitaire de Recherche en Analyse des … - 1999

applications of the model are analyzed. We show that often the optimal allocation of resources within a Cournot oligopoly can be …

Persistent link: https://www.econbiz.de/10005100697

The Curse of Windfall Gains in a Non Renewable Resource Oligopoly

Benchekroun, Hassan; Long, Ngo Van - Centre Interuniversitaire de Recherche en Analyse des … - 2006

We investigate the effect of stock discovery on the profits of non-identical oligopolists. We show that a uniform addition to all stocks could harm firms that are originally larger than average. One conclusion that could be drawn from the results is that a new technology that leads to more...

Persistent link: https://www.econbiz.de/10005100790

Pollution, Pigouvian Taxes, and Asymmetric International Oligopoly

Long, Ngo Van; Soubeyran, Antoine - Centre Interuniversitaire de Recherche en Analyse des … - 1998

transboundary pollution, (iii) correction for restrictive oligopoly output, and (iv) correction for domestic coordination of outputs …

Persistent link: https://www.econbiz.de/10005100900

Emission Taxes and Standards for an Asymmetric Oligopoly

Long, Ngo Van; Soubeyran, Antoine - Centre Interuniversitaire de Recherche en Analyse des … - 2001

We characterize optimal firm-specific emission tax rates, and optimal firm-specific emission standards, and provide intuitive explanation on differential treatments. We show that there is a unified framework for deriving firm-specific policy measures. When firms are identical, the optimal policy...

Persistent link: https://www.econbiz.de/10005101044

Protection, Lobbying, and Market Structure

Hillman, Arye; Long, Ngo Van; Soubeyran, Antoine - Centre Interuniversitaire de Recherche en Analyse des … - 2000

corrélation entre le degré de concentration d'une industrie et la protection qu'elle obtient du gouvernement? …

Persistent link: https://www.econbiz.de/10005101083