Narrow search
Showing 1 - 10 of 2,337
Cover Image
Financial Constraints and Moral Hazard : The Case of Franchising
Fan, Ying; Kuhn, Kai-Uwe; Lafontaine, Francine - 2021
decisions and growth of principals, in the context of franchising. We find that a 30 percent decrease in average … collateralizable housing wealth in a region delays chains’ entry into franchising by 0.28 years on average, 9 percent of the average …
Persistent link: https://www.econbiz.de/10013315688
Cover Image
Financial Constraints and Moral Hazard: The Case of Franchising
Fan, Ying; Kühn, Kai-Uwe; Lafontaine, Francine - CESifo - 2013
decisions and growth of principals, in the context of franchising. We find that a 30 percent decrease in average … collateralizable housing wealth in a region delays chains’ entry into franchising by 0.28 years on average, 9 percent of the average …
Persistent link: https://www.econbiz.de/10010877784
Cover Image
Second-Degree Moral Hazard in a Real-World Credence Goods Market
Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2021
Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard – the tendency of the supply...
Persistent link: https://www.econbiz.de/10013315697
Cover Image
How to Deal with Covert Child Labour, and Give Children an Effective Education, in a Poor Developing Country : An Optimal Taxation Problem with Moral Hazard
Cigno, Alessandro - 2010
Given that credit and insurance markets are imperfect, and given also that intra-household transfers, and much of the work a child does, are private information, the second-best policy uses a combination of need and merit based education awards, together with a mix of taxes on parental income,...
Persistent link: https://www.econbiz.de/10013142234
Cover Image
Market Competition and Lower Tier Incentives
Theilen, Bernd - CESifo - 2008
The relationship between competition and performance-related pay has been analyzed in single-principal-single-agent models. While this approach yields good predictions for managerial pay schemes, the predictions fail to apply for employees at lower tiers of a firm’s hierarchy. In this paper, a...
Persistent link: https://www.econbiz.de/10005405811
Cover Image
Microeconometric Evidence of Financing Frictions and Innovative Activity
Tiwari, Amaresh - 2014
Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that … when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics … innovate and the change in the propensity to innovate no longer varies with firm characteristics. We find that financing …
Persistent link: https://www.econbiz.de/10013057269
Cover Image
Trust, Competition and Innovation : Theory and Evidence from German Car Manufacturers
Calzolari, Giacomo - 2015
emerge as substitutes both in theory and in the data …
Persistent link: https://www.econbiz.de/10013026633
Cover Image
Learning and the Value of Relationships in International Trade
Monarch, Ryan; Schmidt-Eisenlohr, Tim - 2021
How valuable are long-term supplier relationships? To address this question, this paper explores relationships between U.S. importers and their suppliers abroad. We first establish several facts: almost half of U.S. imports are in relationships three years or older, relationship survival and...
Persistent link: https://www.econbiz.de/10013315511
Cover Image
Loans, Insurance and Failures in the Credit Market for Students
Del Rey, Elena - 2011
In the education literature, it is generally acknowledged that both credit and insurance for students are rationed. In order to provide a rationale for these observations, we present a model with perfectly competitive banks and risk averse students who have private information on their ability...
Persistent link: https://www.econbiz.de/10013127182
Cover Image
Expert Politicians, Electoral Control, and Fiscal Restraints
Dulleck, Uwe - 2012
Fiscal restraints have been argued to force today's governments to internalize the externalities that result from extensive borrowing on future electorates and governments as well as on other countries by causing fiscal instability. In this article we provide an alternative argument for fiscal...
Persistent link: https://www.econbiz.de/10013110412