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Agency in Project Screening and Termination Decisions: Why Is Good Money Thrown After Bad?

Bai, Chong-en; Wang, Yijiang - William Davidson Institute, University of Michigan - 1997

We construct an agency model in which the planner (agent) makes project starting and termination decisions on behalf of …

Persistent link: https://www.econbiz.de/10005489869

Growth Slowdown Under Central Planning: A Model of Poor Incentives

Brixiová, Zuzana; Bulír, Aleš - William Davidson Institute, University of Michigan - 2002

Centrally planned economies tend to be less efficient than economies in which agents are free to choose their output targets, as well as the means to meet them. This paper presents a simple model of planner-manager interactions and shows how planned economies can end up in a low-effort,...

Persistent link: https://www.econbiz.de/10005489931

Default Rates in the Loan Market for SMEs: Evidence from Slovakia

Fidrmuc, Jarko; Hainz, Christa; Malesich, Anton - William Davidson Institute, University of Michigan - 2006

Banks entering an emerging market face a lot of uncertainty about the risks involved in lending. We use a unique unbalanced panel of nearly 700 shortterm loans made to SMEs in Slovakia between January 2000 and June 2005. Of the loans granted, on average 6.0 per cent of the firms defaulted....

Persistent link: https://www.econbiz.de/10005652526

Incentives, Scale Economies, and Organizational Form

Maskin, Eric; Quan, Yingyi; Xu, Chenggang - William Davidson Institute, University of Michigan - 1997

, and (b) providing managerial incentives. We show that two particular organizational forms, the M-form (multidivisional …, under certain empirical assumptions, the M-form is likely to be strictly preferable once incentives are taken into account …

Persistent link: https://www.econbiz.de/10005652528

What incentives are being used by International Business Researchers in Their Surveys? A Review.

Chidlow, Agnieszka; Ghauri, Pervez N. - William Davidson Institute, University of Michigan - 2014

examines the types of incentives mentioned by international business scholars in mail surveys as well as how the use of such … incentives affects the response rate. This work uses a content analysis of articles published in four leading international … any type of incentives for enhancing the response rate. The most common incentives used by authors are confidentiality and …

Persistent link: https://www.econbiz.de/10011161381

Governing for Genuine Profit

O'Hara, Michael J. - William Davidson Institute, University of Michigan - 2003

Business corporations seek profit. That is, after subtracting cost, they maximize net revenue. Spillovers (both costs and benefits) involve trade-offs governing boards should make. Spillovers, especially when coupled with clumsy applications of discounted present value, distort a business'...

Persistent link: https://www.econbiz.de/10005207895

Competition, Innovation and Growth in Transition: Exploring the Interactions between Policies

Aghion, Philippe; Carlin, Wendy; Schaffer, Mark - William Davidson Institute, University of Michigan - 2002

relationship between competition and innovation, Aghion, Dewatripont and Rey (1999) showed that this could be reversed if agency …) enhances the performance of old firms, which is suggestive of a role if agency effects and hence of policy substitutability and …

Persistent link: https://www.econbiz.de/10005207902

Objectivity, Proximity and Adaptability in Corporate Governance

Boot, Arnoud W.A.; Macey, Jonathan R. - William Davidson Institute, University of Michigan - 1999

Countries appear to differ considerably in the basic orientations of their corporate governance structures. We postulate the trade-off between objectivity and proximity as fundamental to the corporate governance debate. We stress the value of objectivity that comes with distance (e.g. the market...

Persistent link: https://www.econbiz.de/10005677455

Adapting Corporate Governance for Sustainable Peace

Fort, Timothy L.; Schipani, Cindy A. - William Davidson Institute, University of Michigan - 2003

In previous work, we argued that there is a link between corporate governance and the reduction of violence. In this manuscript, we further explore that link with a focus on how corporations can work toward the goal of reduction of violence in the societies in which they operate. Here, we pose...

Persistent link: https://www.econbiz.de/10005677485

Post-Privatization Enterprise Restructuring

Bornstein, Morris - William Davidson Institute, University of Michigan - 2000

Post-privatization restructuring of former state-owned enterprises (FSOEs) encompasses both shorter-run "defensive" actions and longer-run "strategic" measures. Restructuring involves changes in corporate governance, organizational structure, management, labor, capital, technology, output, and...

Persistent link: https://www.econbiz.de/10005677509