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Why Are There Explicit Contracts of Employment?
James, Harvey; Johnson, Derek - EconWPA - 2002
understanding of two fundamental problems that arise when agency relationships are established between a worker and firm. The first … is that agency relationships often require the creation of specific property rights in order for firm owners to realize … productive efficiencies of scale or scope from agency. The second is that the economic characteristics of the agency relationship …
Persistent link: https://www.econbiz.de/10005076642
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Why Funds of Funds?
Lai, Richard Kum-yew - EconWPA - 2005
Private equity funds of funds (FOFs) have become big business. Today, FOFs form 14% of new money raised. I test six explanations for the rise of FOFs. First, I find that FOFs do not generally deliver superior returns. They do, however, do well enough for the limited partners (LPs) that hire...
Persistent link: https://www.econbiz.de/10005134791
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Three Union Regulations for Environment Protection Agency: A Game with 12 bank notes
Mullat, Joseph - EconWPA - 2001
the interaction of interests between companies and environment protection agency, which takes into account the nature …
Persistent link: https://www.econbiz.de/10005407567
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AGENCY, ASSOCIATIONS AND CULTURE: A THALE OF STATE AND SOCIETY
Talpos, Ioan; Dima, Bogdan; Enache, Cosmin; Mutascu, … - EconWPA - 2005
theoretical foundation, elements resumed by a set of critical postulates and a special definition of state as the dominant agency …
Persistent link: https://www.econbiz.de/10005408429
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Do Tender Offers Create Value? New Methods and Evidence
BHAGAT, SANJAI; DONG, MING; HIRSHLEIFER, DAVID A.; … - EconWPA - 2004
We develop the Probability Scaling Method, which rescales short-window announcement period returns; and the Intervention Method, which uses returns associated with intervening events, to estimate value improvements from tender offers. These methods address biases in conventional techniques,...
Persistent link: https://www.econbiz.de/10005413073
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A Tale of Two Wages: Separating Contract from Governance
Harvey S. James Jr. - EconWPA - 1997
This paper distinguishes between governance structure and contractual form. The basic premise is that researchers often confuse these two concepts when they develop or empirically test models within the transaction cost framework. In the paper I utilize a simple principal- agent model to show...
Persistent link: https://www.econbiz.de/10005561837
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ICT productivity and firm propensity to innovative investment: learning effect evidence from italina micro data
Atzeni, Gianfranco Enrico; Carboni, Oliviero Antonio - EconWPA - 2005
This work attempts to shed light on the “information technology productivity paradox”. Employing a large data set of Italian manufacturing firms we compute ICT marginal productivity across different cluster of firms and the impact of information and communication technology (ICT) on output...
Persistent link: https://www.econbiz.de/10005076878
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Is Perfect Price Discrimination Really Efficient? An Analysis of Free Entry Equilibria
Bhaskar, V.; To, Ted - EconWPA - 2000
apply to models of common agency or lobbying with free entry and imply that one has excessive entry into the ranks of …
Persistent link: https://www.econbiz.de/10005076900
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Labor Conflict and Foreign Investments: An Analysis of FDI in India
Menon, Nidhiya; Sanyal, Paroma - EconWPA - 2005
This paper analyzes patterns of foreign direct investment in India. We investigate how labor conflict, credit constraints, and indicators of a state’s economic health influence location decisions of foreign firms. We account for the possible endogeneity of labor conflict variables in modeling...
Persistent link: https://www.econbiz.de/10005124865
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A Tractable Model of Reciprocity and Fairness
Cox, James; Friedman, Daniel; Gjerstad, Steven - EconWPA - 2004
We introduce a parametric model of other-regarding preferences. The income distribution and the kindness or unkindness of others' choices ('intentions') systematically affect a person's emotional state. The emotional state systematically affects the marginal rate of substitution between own and...
Persistent link: https://www.econbiz.de/10005125574