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Using textual analysis of earnings conference calls, we quantify firms' supply chain risk and its sources. Our proxy for supply chain risk exhibits large cross-sectional and time-series variation that aligns with reasonable priors and is unprecedently high during the Covid-19 pandemic. In...
Persistent link: https://www.econbiz.de/10014250152
, we analyze firm misreporting, auditor monitoring and competition, and regulatory policy in a unified model. A federated …
Persistent link: https://www.econbiz.de/10015056089
This paper considers functions of contracting other than the protection of relationship-specific investments and the provision of marginal incentives, and applies the theory to explain variation in the form of compensation of over-the-road truck drivers in the U.S. Specifically, we argue that...
Persistent link: https://www.econbiz.de/10012469856
Our study aims at assessing the actual importance of the two main channels usually contemplated in the literature through which upstream sector anticompetitive regulations may impact productivity growth: business investments in R&D and in ICT. We thus estimate what are the specific impacts of...
Persistent link: https://www.econbiz.de/10012459134
This paper examines vertical arrangements in electricity markets. Vertically integrated wholesalers, or those with long-term contracts, have less incentive to raise wholesale prices when retail prices are determined beforehand. For three restructured markets, we simulate prices that define...
Persistent link: https://www.econbiz.de/10012465139
This paper models the international competition between a domestic firm and its vertically integrated foreign rival …
Persistent link: https://www.econbiz.de/10012476137
This paper sets up a microeconomic theory of labor unions. It discusses their formation and goals, their hierarchical structure, and the nature of rent distribution. The theory provides predictions for the probability that an industry or occupation will be unionized, the proportion of that...
Persistent link: https://www.econbiz.de/10012478449
investment. We distinguish free generic technology from proprietary technologies resulting from risky investment with uncertain … technology cannot be compared to its own direct investment costs. Eureka moments are hardly ever self-enabling and incentives are … required to motivate investment attempting to turn them into an innovation. The alternative to a valuable proprietary …
Persistent link: https://www.econbiz.de/10012466574
absolute margin. We derive these results in both a monopoly model and a variety of different competitive models. We conclude …
Persistent link: https://www.econbiz.de/10012468099
aftermarkets? In this paper we explore a number of models characterized by either competition or monopoly in the new-unit market …, and show that a variety of behaviors that hurt competition in aftermarkets can, in fact, be efficient responses to …
Persistent link: https://www.econbiz.de/10012470643