Narrow search
Showing 1 - 10 of 2,007
Cover Image
Common Ownership, Competition, and Top Management Incentives
Anton, Miguel - 2020
When one firm's strategy affects other firms' value, optimal executive incentives depend on whether shareholders have interests in only one or in multiple firms. Performance-sensitive contracts induce managerial effort to reduce costs, and lower costs induce higher output. Hence, greater...
Persistent link: https://www.econbiz.de/10012854854
Cover Image
Stock Market Returns, Corporate Governance and Capital Market Equilibrium
Parigi, Bruno Maria; Pelizzon, Loriana; von Thadden, … - 2021
This paper proposes a theoretical model that incorporates corporate governance into the basic CAPM, where corporate governance affects the disutility of managerial effort and the possibility of managers to divert company resources. It shows that corporate governance affects firms’ stock...
Persistent link: https://www.econbiz.de/10013315674
Cover Image
Cash Flow Duration and the Term Structure of Equity Returns
Weber, Michael - 2016
The term structure of equity returns is downward-sloping: stocks with high cash flow duration earn 1.10% per month lower returns than short-duration stocks in the cross section. I create a measure of cash flow duration at the firm level using balance sheet data to show this novel fact. Factor...
Persistent link: https://www.econbiz.de/10012981605
Cover Image
Cross-Border Mergers & Acquisitions : The Facts as a Guide for International Economics
Brakman, Steven; Garretsen, Harry; van Marrewijk, Charles - 2021
Using a detailed and large data set on cross-border merger and acquisitions we discuss the relationship between theory …
Persistent link: https://www.econbiz.de/10013317375
Cover Image
Raising Taxes through Equalization
Smart, Michael - 2007
A simple theory suggests that a common form of federal horizontal equalization grants should cause subnational … Canadian provincial tax policies in the 1972-2002 period. Consistent with the theory, provinces respond to expansions of …
Persistent link: https://www.econbiz.de/10012777492
Cover Image
Political Competition and Convergence to Fundamentals : With Application to the Political Business Cycle and the Size of Government
Ferris, J. Stephen - 2006
We address the problem of how to investigate whether economics, or politics, or both, matter in the explanation of public policy. The problem is first posed in a particular context by uncovering a political business cycle (using Canadian data for 130 years) and by taking up the challenge to make...
Persistent link: https://www.econbiz.de/10012781541
Cover Image
Labor Market Effects of Sports and Exercise : Evidence from Canadian Panel Data
Lechner, Michael - 2014
Based on the Canadian National Population Health Survey we estimate the effects of individual sports and exercise on individual labor market outcomes. The data covers the period from 1994 to 2008. It is longitudinal and rich in life-style, health, and physical activity information. Exploiting...
Persistent link: https://www.econbiz.de/10013057258
Cover Image
Indian Entrepreneurial Success in the United States, Canada and the United Kingdom
Fairlie, Robert W.; Krashinsky, Harry A.; … - 2021
Kingdom and Canada -- we examine the performance of Indian entrepreneurs and explanations for their success. We find that … Canada, Indian entrepreneurs have average earnings slightly below the national average but they are more likely to hire … Canada and the United Kingdom contributing less to their entrepreneurial success …
Persistent link: https://www.econbiz.de/10013315668
Cover Image
Dutch Disease and the Mitigation Effect of Migration : Evidence from Canadian Provinces
Beine, Michel A. R.; Coulombe, Serge; Vermeulen, Wessel - 2021
This paper looks at whether immigration can mitigate the Dutch disease effects associated with booms in natural resource sectors. We first derive predicted changes in the size of the non-tradable sector from a small general-equilibrium model à la Obstfeld-Rogoff, supplemented by a resource...
Persistent link: https://www.econbiz.de/10013315912
Cover Image
Cross-Ownership, R&D Spillovers, and Antitrust Policy
López, Ángel L. - 2017
This paper considers cost-reducing R&D investment with spillovers in a Cournot oligopoly with overlapping ownership. We show that overlapping ownership leads to internalization of rivals' profits by firms and find that, for demand not too convex, increases in overlapping ownership increase...
Persistent link: https://www.econbiz.de/10012968865