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Post-Issue Patent "Quality Control" : A Comparative Study of US Patent Re-examinations and European Patent Oppositions
Graham, Stuart J. H. - 2002
We report the results of the first comparative study of the determinants and effects of patent oppositions in Europe … thirty times higher than the rate of re-examination at the USPTO. Moreover, opposition leads to a revocation of the patent in … about 41 percent of the cases, and to a restriction of the patent right in another 30 percent of the cases. Re …
Persistent link: https://www.econbiz.de/10012469908
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Banking System Stability : A Cross-Atlantic Perspective
Hartmann, Philipp - 2005
This paper derives indicators of the severity and structure of banking system risk from asymptotic interdependencies between banks' equity prices. We use new tools available from multivariate extreme value theory to estimate individual banks' exposure to each other ("contagion risk") and to...
Persistent link: https://www.econbiz.de/10012466974
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Chinese Firm and Industry Reactions to Antidumping Initiations and Measures
Li, Chunding - 2010
Because of large and rapid growing export volumes and its formal status as a non-market economy; China has been the subject of large numbers of both antidumping initiations and measures. Current estimates are that around 40% of such actions are against China; India, in turn, is the largest source...
Persistent link: https://www.econbiz.de/10012462211
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Evaluating the Role of Insurance in Managing Risk of Future Pandemics
Kunreuther, Howard; Schupp, Jason - National Bureau of Economic Research - 2021
COVID-19 has demonstrated the challenges that policymakers, insurers, businesses, and employees face when disaster assistance programs are developed after the pandemic has already started. There is now an opportunity to design and implement effective and efficient solutions to manage the...
Persistent link: https://www.econbiz.de/10012585452
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Hedging and Competition
Giambona, Erasmo; Kumar, Anil; Phillips, Gordon M. - National Bureau of Economic Research - 2021
We study how risk management through hedging impacts firms and competition among firms in the life insurance industry - an industry with over 7 Trillion in assets and over 1,000 private and public firms. We show that firms that are likely to face costly external finance increase hedging after...
Persistent link: https://www.econbiz.de/10012629427
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Why do Bank Boards have Risk Committees?
Stulz, René M.; Tompkins, James G.; Williamson, Rohan; … - National Bureau of Economic Research - 2021
We develop a theory of bank board risk committees. With this theory, such committees are valuable even though there is no expectation that bank risk is lower if the bank has a well-functioning risk committee. As predicted by our theory (1) many large and complex banks voluntarily chose to have a...
Persistent link: https://www.econbiz.de/10012599396
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Center Pivot Irrigation Systems as a Form of Drought Risk Mitigation in Humid Regions
Cooley, Daniel J.; Smith, Steven M. - National Bureau of Economic Research - 2022
Irrigation in the Eastern US receives little attention compared to the West, but farmers in humid states of the US, traditionally reliant on rainfall, have more than tripled irrigation since 1978. We examine this trend in Illinois where there has been a nearly threefold increase in center pivot...
Persistent link: https://www.econbiz.de/10013210121
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Why Do U.S. Firms Hold So Much More Cash Than They Used To?
Bates, Thomas W. - 2006
The average cash to assets ratio for U.S. industrial firms increases by 129% from 1980 to 2004. Because of this increase in the average cash ratio, American firms at the end of the sample period can pay back their debt obligations with their cash holdings, so that the average firm has no...
Persistent link: https://www.econbiz.de/10012466129
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Derivatives Usage in Risk Management by US and German Non-Financial Firms : A Comparative Survey
Bodnar, Gordon M. - 1998
This paper is a comparative study of the responses to the 1995 Wharton School survey of derivative usage among US non-financial firms and a 1997 companion survey on German non-financial firms. It is not a mere comparison of the results of both studies, but a comparative study, drawing a...
Persistent link: https://www.econbiz.de/10012472108
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Book Value Risk Management of Banks : Limited Hedging, HTM Accounting, and Rising Interest Rates
Granja, João; Jiang, Erica Xuewei; Matvos, Gregor; … - National Bureau of Economic Research - 2024
In the face of rising interest rates in 2022, banks mitigated interest rate exposure of the accounting value of their assets but left the vast majority of their long-duration assets exposed to interest rate risk. Data from call reports and SEC filings shows that only 6% of U.S. banking assets...
Persistent link: https://www.econbiz.de/10014512148