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Firm insiders a manager and a board face moral hazard in relation to their outside shareholders in a repeated game with asymmetric information and stochastic market outcomes. The manager determines whether or not outsiders are cheated; the board, whose objectives differ from those of outside...
Persistent link: https://www.econbiz.de/10009363724
This paper tries to analyze the interrelationship between possibilities of conflict in cross border mergers and acquisitions and firm and market characteristics in a two country three firm model. We show that in general an increase in asymmetry across firms reduces the possibility of conflict...
Persistent link: https://www.econbiz.de/10009365327
This paper studies factors associated with firm participation in export markets, focusing primarily on firm size and access to credit, based on a survey sample comprising observations of 8,080 small and medium enterprises (SMEs) (with fewer than 100 employees) and non-SME firms in developing...
Persistent link: https://www.econbiz.de/10010901622
This paper studies factors associated with firm participation in export markets, focusing primarily on firm size and access to credit, based on a survey sample comprising observations of 8,080 small and medium enterprises (SMEs) (with fewer than 100 employees) and non-SME firms in developing...
Persistent link: https://www.econbiz.de/10010901625
During the post-1990 period, services sector inmost of the Asian economies witnessed growth fuelled by substantial changes in the financial sector of these economies. The insurance industry, in most of the Asian economies, ASEAN and SAARC economies in particular, was publicly owned and remained...
Persistent link: https://www.econbiz.de/10009363872
The information and communication technology (ICT) revolution of the past 3 decades has transformed the world into an integrated marketplace. Today, producers and consumers alike are able to compare the prices of local businesses and worldwide sellers. For an increasing number of tradable goods,...
Persistent link: https://www.econbiz.de/10010857580
The information and communication technology (ICT) revolution of the past 3 decades has transformed the world into an integrated marketplace. Today, producers and consumers alike are able to compare the prices of local businesses and worldwide sellers. For an increasing number of tradable goods,...
Persistent link: https://www.econbiz.de/10010857584
This paper focuses on the pricing behavior of Japanese and United States firms selling their identical products in New York City, Chicago, Osaka, and Tokyo. The authors utilize some simple models of international price dispersion and market segmentation that generate predictions about testable...
Persistent link: https://www.econbiz.de/10011277998
This paper discusses Japan’s strategy for Asian monetary integration. It argues that Japan faces three major policy … a leadership role in this endeavor. There is no question that Japan and the PRC are such potential leaders, and the two … monetary zone in Asia, Japan needs to make significant efforts at the national and regional levels and further strengthen …
Persistent link: https://www.econbiz.de/10011278016
Asia is fast becoming the largest recipient of Japan's foreign direct investment (FDI). Within the Asian region, the … Association of Southeast Asian Nations (ASEAN) has been the major investment destination of Japan. In the manufacturing sectors …, however, the investment flows from Japan to ASEAN—with Thailand being the largest recipient—has been declining. In …
Persistent link: https://www.econbiz.de/10011278055