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Specialization, Firms and Markets: The division of Labour Between and Within Law Firms
Garicano, Luis; Hubbard, Thomas - C.E.P.R. Discussion Papers - 2003
the Census of Services to examine law firms' boundaries. We first examine how the specialization of lawyers and firms … increases as lawyers' returns to specialization increase. In fields where lawyers increasingly specialize with market size, the … specialization by mediating exchanges of economic opportunities more efficiently than markets. …
Persistent link: https://www.econbiz.de/10005123527
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Payment Evasion
Buehler, Stefan; Halbheer, Daniel; Lechner, Michael - C.E.P.R. Discussion Papers - 2015
This paper models payment evasion as a source of profit by letting the firm choose the purchase price and the fine imposed on detected payment evaders. For a given price and fine, the consumers purchase, evade payment, or choose the outside option. We show that payment evasion leads to a form of...
Persistent link: https://www.econbiz.de/10011276378
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Globalization and the 'New Enterprise'
Marin, Dalia; Verdier, Thierry - C.E.P.R. Discussion Papers - 2002
Globalization has been identified by many experts as a new way firms organize their activities. This Paper surveys recent work that examines the role of trade integration between similar and dissimilar countries for these changes in corporate organization. It is shown that international...
Persistent link: https://www.econbiz.de/10005662173
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To Be Financed or Not… - The Role of Patents for Venture Capital Financing
Haeussler, Carolin; Harhoff, Dietmar; Mueller, Elisabeth - C.E.P.R. Discussion Papers - 2009
This paper investigates how patent applications and grants held by new ventures improve their ability to attract venture capital (VC) financing. We argue that investors are faced with considerable uncertainty and therefore rely on patents as signals when trying to assess the prospects of...
Persistent link: https://www.econbiz.de/10005662179
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High Skilled Migration and the Exertion of Effort by the Local Population
Epstein, Gil S; Kunze, Astrid; Ward-Warmedinger, Melanie - C.E.P.R. Discussion Papers - 2002
education, that is subject of specialization, and job characteristics. We suggest an efficiency wage model that can explain why …
Persistent link: https://www.econbiz.de/10005666778
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Soft Budget Constraint Theories: From Centralization to the Market
Maskin, Eric; Xu, Cheng-Gang - C.E.P.R. Discussion Papers - 2001
This Paper surveys the theoretical literature on the effect of soft budget constraints (SBC) on economies in transition from centralization to capitalism; it also reviews our understanding of SBC in general. It focuses on the conception of the SBC syndrome as a commitment problem. We show that...
Persistent link: https://www.econbiz.de/10005667038
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Development of Ownership Structure and its Effect on Performance: Czech Firms from Mass Privatisation
Kocenda, Evzen - C.E.P.R. Discussion Papers - 2002
This Paper works with a broad data sample of Czech voucher-privatized firms during 1996-99. It analyses the development of ownership structure and consequently its effect on a firm's performance Ownership concentration had been quite high in 1996 and steadily increased. The single largest owner...
Persistent link: https://www.econbiz.de/10005788907
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A Richer Understanding of Australia’s Productivity Performance in the 1990s: Improved estimates based upon firm-level panel data
Breunig, Robert; Wong, Marn-Heong - Research School of Economics, College of Business and … - 2007
Australia’s productivity performance is characterized by important differences across continuing firms, frequent entry of new firms, and substantial exit of firms which, for one reason or another, decide to cease production. These basic facts call into question the appropriateness of measuring...
Persistent link: https://www.econbiz.de/10004967974
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Objectives and Constraints of Entrepreneurs: Evidence from Small and Medium-Size Enterprises in Russia and Bulgaria
Pissarides, Francesca; Singer, Miroslav; Svejnar, Jan - C.E.P.R. Discussion Papers - 2003
We analyse the principal objectives and constraints of small and medium enterprises (SMEs), using data from a survey of 437 top managers (CEOs) of SMEs in Russia and Bulgaria. The CEOs display similar views and identify a small number of specific constraints as being the most important ones. The...
Persistent link: https://www.econbiz.de/10005788991
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The Influence of the Financial Revolution on the Nature of Firms
Rajan, Raghuram G; Zingales, Luigi - C.E.P.R. Discussion Papers - 2001
Major technological, regulatory, and institutional changes have made finance more widely available in recent years, amounting to a bona fide ‘financial revolution’. In this article, we focus on the impact the financial revolution has had on the way firms are (or should be) organized and...
Persistent link: https://www.econbiz.de/10005789143