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Carbon Lock-In: The Role of Expectations

Meijden, Gerard van der; Smulders, Sjak - Tinbergen Instituut - 2014

We argue that expectations about future energy use affect the transition from fossil fuels to renewable substitutes, because of an interaction between innovation and resource scarcity. The paper presents a model of directed technical change to study this interaction. We find that resource-saving...

Persistent link: https://www.econbiz.de/10011257201

The Political Economy of Dominant Investors

Perotti, Enrico C.; Thadden, Ernst-Ludwig von - Tinbergen Instituut - 2004

We allow the preference of a political majority to determine boththe corporate governance structure and the division of profits betweenhuman and financial capital. In a democratic society where financialwealth is concentrated, a political majority may prefer to restraingovernance by dispersed...

Persistent link: https://www.econbiz.de/10011255534

Acquisitions as a Real Options Bidding Game

Smit, Han T.J.; Berg, Ward A. van den; Maeseneire, Wouter De - Tinbergen Instituut - 2004

expected target value, and uncertainty, determine value appropriation in acquisitions. …

Persistent link: https://www.econbiz.de/10011256936

Winning by Losing: Evidence on Overbidding in Mergers

Malmendier, Ulrike; Moretti, Enrico; Peters, Florian - Tinbergen Instituut - 2011

Do shareholders of acquiring companies profit from acquisitions, or do acquiring CEOs overbidand destroy shareholder …

Persistent link: https://www.econbiz.de/10011257222

Consolidation Waves

Berg, Ward A. van den; Smit, Han T.J. - Tinbergen Instituut - 2007

This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is … initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is … accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial …

Persistent link: https://www.econbiz.de/10011257223

Optimal Diversity in Investments with Recombinant Innovation

Bergh, Jeroen C.J.M. van den; Zeppini-Rossi, Paolo - Tinbergen Instituut - 2008

This discussion paper resulted in a publication in Structural Change and Economic Dynamics, 2013, 24, 141-156. We address the notion of dynamic, endogenous diversity and its role in theories of investment and technological innovation. We develop a formal model of an innovation arising from the...

Persistent link: https://www.econbiz.de/10011255510

The Pollution Effects of Mergers and Acquisitions: Asymmetry, Disaggregation, and Multilateralism

Swart, Julia; Marrewijk, Charles van - Tinbergen Instituut - 2011

This paper studies the impact of cross-border Mergers and Acquisitions (M&As) on Carbon Dioxide emissions. Carbon …

Persistent link: https://www.econbiz.de/10011255767

Modelling R&D and Innovation Support Systems – Analysis of Regional Cluster Structures in Innovation in Portugal

Vaz, Teresa de Noronha; Galindo, Purificación Vicente; … - Tinbergen Instituut - 2013

This paper offers a new methodology to identify R&D and innovation clusters, on the basis of a regional analysis of innovation support systems in Portugal. Using a web-based inventory of R&D and innovation agencies, an extensive data base is created. This data set is next analyzed by means of...

Persistent link: https://www.econbiz.de/10011255791

Competing Recombinant Technologies for Environmental Innovation

Zeppini, Paolo; Bergh, Jeroen C.J.M. van den - Tinbergen Instituut - 2010

This discussion paper resulted in a publication in 'Industry and Innovation', 2011, 18(3), 317-334. This article presents a model of sequential decisions about investments in environmentally dirty and clean technologies, which extends the path-dependence framework of Arthur (1989). This allows...

Persistent link: https://www.econbiz.de/10011256080

Differential Impact of Environmental Policy Instruments on Technological Change: A Review of the Empirical Literature

Vollebergh, Herman R.J. - Tinbergen Instituut - 2006

This survey reviews the empirical literature on the impact of environmental policy instruments on the rate and direction of technological change. The survey is explicitly focused on the empirical identification of the hypothesis to expect a stronger impact from market-based incentives than from...

Persistent link: https://www.econbiz.de/10011256107