During the 1980s and 1990s the argument that “maximizing share-holder value” results in superior economic performance came to dominate the corporate governance debates. In this paper, I outline the rationale for the shareholder-value perspectives, and show that, rooted in agency theory,it...

This papers intends to relate more closely corporate governance, industry dynamics and firms performance. In this perspective, it focuses on the impact of applying the normative, best pratice, shareholder value model of corporate governance on industry dynamics and related performance measured...

We study the endogenous formation of networks between manufacturers of differentiated goods and multi-product retailers who interact in a successive duopoly. Joint consent is needed to establish and/or maintain a costly link between a manufacturer and a retailer. We find that only three...

We reconsider Goyal and Moraga-Gonzalez (Rand J. of Econ. 32 (2001), 686-707) model of strategic networks in order to analyze how government policies (e.g. subsidies) will affect the stability and efficiency of networks of R&D collaboration among three firms located in different countries. A...

This paper analyses how a diversifying firm can strategically design its wage policy in order to gain market power in unionized markets. This paper shows that union power in the local market power in the local market coupled with the nature of the wage contractual agreement process-i.e. the type...

The objective of this paper is to identify the determinants of the decision to innovate in Taiwan. Three “innovation strategies” are considered : doing R&D only, importing technology only, and combining both. We estimate a Bivariate Probit on a panel of more than 27000 Taiwanese...

This paper proposes to investigate the effect of spillovers on location decision of firms. We develop an analysis merging the geographer toolbox with the standard econometric techniques. For a chosen sample of sectors, through the spatial data analysis, we test the existence of positive spatial...

Firms protected by antidumping measures do not unequivocally benefit from them. Antidumping protection benefits non-exporters active on the protected market by raising their domestic sales, but hurts exporters of similar products as the protected ones. Export sales of protected firms fall by...

L'objectif de cet article est d'expliquer le chômage de masse, tel qu'il existe depuis plus d'une décennie dans les pays européens. Il est affirmé que sa cause réside dans une offre réelle de monnaie insuffisante, conjuguée avec une politique budgétaire trop restrictive. En découlent...

Cet article aborde le problème de la suppression du chômage de masse en Europe. Il affirme que pour ce faire, une décennie complète d'une croissance soutenue de l'output ( 3%) accompagnée d'une croissance modérée des salaires réels (≤ 2%) est nécessaire et probablement suffisante. La...