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Povel, Paul; Singh, Rajdeep; Winton, Andrew - EconWPA - 2003

We examine firm managers' incentives to commit fraud in a model where firms seek funding from investors and investors … can monitor firms at a cost in order to get more precise information about firm prospects. We show that fraud incentives … funded without committing fraud, whereas in bad times investors are more vigilant and it is harder to commit fraud …

Persistent link: https://www.econbiz.de/10005134707

Optimal Audit Policy and Heterogenous Agents

Ratto, Marisa; Vergé, Thibaud - EconWPA - 2003

Frauds can be explained not only in terms of individual willingness to cheat, but may also be driven by opportunities to behave dishonestly. The audit policy should therefore be different for different categories of agents. This paper focuses on the optimal audit policy when there are two...

Persistent link: https://www.econbiz.de/10005412503

Third-party punishment and social norms

Fehr, Ernst; Fischbacher, Urs - EconWPA - 2004

We examine the characteristics and relative strength of third-party sanctions in a series of experiments. We hypothesize that egalitarian distribution norms and cooperation norms apply in our experiments, and that third parties, whose economic payoff is unaffected by the norm violation, may be...

Persistent link: https://www.econbiz.de/10005125599

Are there Regional Variations in the Psychological Cost of Unemployment in South Africa?

Powdthavee, Nattavudh - EconWPA - 2003

Are certain groups of unemployed individuals hurt less by unemployment than others? This paper is an attempt to test the hypothesis that non- pecuniary costs of unemployment may vary between societies with different unemployment rates. Using cross-sectional data from the SALDRU93 survey, we show...

Persistent link: https://www.econbiz.de/10005125760

Snir, Avichai; Levy, Daniel - EconWPA - 2005

Economic organization of the imaginary worlds depicted in popular literary works may be viewed as a mirror to public opinion on the economic organization of life. If a book becomes a best-seller, it is because the book conveys messages, feelings, and events the readers can relate to. In other...

Persistent link: https://www.econbiz.de/10005407781

Stakeholder Value Matrix - Die VErbindung zwischen Shareholder Value und Stakeholder Value

Figge, Frank - EconWPA - 2004

Die Studie zeigt, was unter Stakeholder Value verstanden werden kann, wie Shareholder Value und Stakeholder Value … Wertbeitragsanalyse von Stakeholderbeziehungen vorgestellt. Anhand der Stakeholder Value Matrix lässt sich zeigen, welche …

Persistent link: https://www.econbiz.de/10005062491

Agent Behaviour, Financial Market and Welfare Theory

Paranque, Bernard; Baets, Walter; Pruden, Henry - EconWPA - 2005

An important literature has pointed out the coordination problems faced by the agents, in particular the financial one when they have to manage risk and their portfolio. If we follow Kaldor and its definition of speculation, then we could point out that in this case agents are short term...

Persistent link: https://www.econbiz.de/10005413089

Stakeholder und Unternehmensrisiko

Figge, Frank - EconWPA - 2004

Dass Stakeholder zum Unternehmensrisiko beitragen können, ist heute weitgehend unbestritten. Höhe und Art des … einen Einfluss auf den Unternehmenswert. Gelingt es, den Beitrag der Stakeholder zum Unternehmensrisiko zu reduzieren …

Persistent link: https://www.econbiz.de/10005561064

Geneses of labour market turnover: Job search and entrepreneurial aspirations on-the-job

Hyytinen, Ari; Ilmakunnas, Pekka - EconWPA - 2005

In this paper we study the labour market behavior of employed individuals that have entrepreneurial aspirations in addition to aspirations to switch job. We analyze empirically these two “search processes” side-by-side and report three main findings: First, neither entrepreneurial...

Persistent link: https://www.econbiz.de/10005125777

Entrepreneurial Efficiency: Theory

Takii, Katsuya - EconWPA - 2004

.e., their prediction ability), and derives an aggregate production function as a result of entrepreneurship. An increase in … affects the total factor productivity (TFP) of an economy, the model can explain how entrepreneurship influences TFP. …

Persistent link: https://www.econbiz.de/10005126334