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Royal Ahold (Koninklijke Ahold NV) was one of the major success stories in the 1990s and is one of the major failures, suffering a complete meltdown, in 2003.We investigate the strategy, accounting transparency and corporate governance of Ahold; elements which jointly drive the firm s performance...
Persistent link: https://www.econbiz.de/10011091014
The purpose of this paper is to gather evidence on the success of market forces in promoting investor interests through self-regulation.Corporate governance is a complex mechanism design problem that is both economic and legal/political based.As such there is great interest in whether (and when)...
Persistent link: https://www.econbiz.de/10011091306
, proposes an exhaustive and consistent measure of applied, preferential tariff protection in 2007. The methodology, similar to … computing ad valorem equivalents of tariff protection, and when computing averages at aggregate levels. The world average … applied protection level in 2007 is estimated to be 4.4%. Compared to 2004, this is a decline by nearly 0.7 percentage point …
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We study a credit market with adverse selection and moral hazard where sufficient sorting is impossible. The crucial novel feature is the competition between lenders in their choice of contracts offered. Qualities of investment projects are not observable by banks and investment decisions of...
Persistent link: https://www.econbiz.de/10011092395