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Entrepreneurial Innovations, Entrepreneurship Policy and Globalization
Douhan, Robin; Norbäck, Pehr-Johan; Persson, Lars - C.E.P.R. Discussion Papers - 2010
What explains the world-wide trend of pro-entrepreneurial policies? We study entrepreneurial policy in a lobbying model taking into account the conflict of interest between entrepreneurs and incumbents. It is shown that international market integration leads to more pro-entrepreneurial policies....
Persistent link: https://www.econbiz.de/10008530366
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Are More Important Patents Approved More Slowly and Should They Be?
Régibeau, Pierre; Rockett, Katharine - C.E.P.R. Discussion Papers - 2007
quickly. Also, the approval delay is likely to decrease as an industry moves from the early stages of an innovation cycle to …
Persistent link: https://www.econbiz.de/10005661945
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Weathering the crisis and beyond: Perspectives for the Euro Area
Schmidt, Christoph M; Weigert, Benjamin - C.E.P.R. Discussion Papers - 2013
The euro area is experiencing a severe and highly complex crisis. It comprises three problem areas, the difficulties of some highly indebted European sovereigns to ascertain funding at palatable cost, the disconcerting fragility of the European banking system and disappointing growth prospects...
Persistent link: https://www.econbiz.de/10011083564
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Business Groups in the United States: A Revised History of Corporate Ownership, Pyramids and Regulation, 1930-1950
Kandel, Eugene; Kosenko, Konstantin; Morck, Randall; … - C.E.P.R. Discussion Papers - 2013
The extent to which business groups ever existed in the United States and, if they did exist, the reasons for their disappearance are poorly understood. In this paper we use hitherto unexplored historical sources to construct a comprehensive data set to address this issue. We find that (1)...
Persistent link: https://www.econbiz.de/10011083947
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Effect of Regulatory Constraints on Fund Performance: New Evidence from UCITS Hedge Funds
Joenväärä, Juha; Kosowski, Robert - C.E.P.R. Discussion Papers - 2015
We economically motivate and then test a range of hypotheses regarding performance and risk differences between UCITS-compliant and other hedge funds. The latter exhibit more suspicious return patterns than do absolute return UCITS (ARUs), but ARUs exhibit higher levels of operational risk. We...
Persistent link: https://www.econbiz.de/10011272713
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Investment and capital structure of partially private regulated firms
Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that incorporates two key institutional features of the public utilities sector in many countries: firms are partially owned by the state and regulators are not necessarily...
Persistent link: https://www.econbiz.de/10009209829
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When bigger isn’t better: Bail outs and bank behaviour
Li, Han Hao; Miller, Marcus; Zhang, Lei - C.E.P.R. Discussion Papers - 2011
The traditional theory of commercial banking explains maturity transformation and liquidity provision assuming no asymmetric information and no excess profits. It captures the possibility of bank runs and business cycle risk; but it ignores the moral hazard problems connected with risk-taking by...
Persistent link: https://www.econbiz.de/10009320408
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Regulation, Privatization, and Airport Charges: Panel Data Evidence from European Airports
Bilotkach, Volodymyr; Clougherty, Joseph A.; Mueller, … - C.E.P.R. Discussion Papers - 2011
main empirical results indicate that aeronautical charges are lower at airports when single-till regulation is employed …, when airports are privatized, and -- tentatively -- when ex-post price regulation is applied. Furthermore, hub airports … generally set higher aeronautical charges, and it appears that price-cap regulation and the presence of nearby airports do not …
Persistent link: https://www.econbiz.de/10009351519
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Effects of Deregulation and Vertical Unbundling on the Performance of China's Electricity Generation Sector
Gao, Hang; Van Biesebroeck, Johannes - C.E.P.R. Discussion Papers - 2011
We study whether the 2002 deregulation and vertical unbundling of the Chinese electricity sector has boosted productivity in the generation segment of the industry. Controlling explicitly for sources of price-heterogeneity across firms and for firm-fixed effects, we find deregulation to be...
Persistent link: https://www.econbiz.de/10009385757
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Assessing the impact of Mali’s water privatization across stakeholders
Estache, Antonio; Grifell-Tatjé, Emili - C.E.P.R. Discussion Papers - 2011
This paper offers a unique quantitative evaluation of the distribution of the welfare of a water privatization experience in Mali among labor, investors, intermediate input providers, users and taxpayers. The assessment is based on indicator duality and production theory. The paper shows that...
Persistent link: https://www.econbiz.de/10009399719