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Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within...
Persistent link: https://www.econbiz.de/10014312548
We use de-identified data from Facebook to study the social integration of Syrian migrants in Germany, a country that … received a large influx of refugees during the Syrian Civil War. We construct measures of migrants’ social integration based on … find large variation in Syrians’ social integration across German counties, and use a movers’ research design to document …
Persistent link: https://www.econbiz.de/10013174171
The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A particular focus is on the size of monetary policy committees, the degree of centralization, and the representation of relative economic size in the voting rights of regional (or...
Persistent link: https://www.econbiz.de/10003301388
No good comparable data on sizes of cultural sectors of the countries of Europe exist. Still, local and national governments of Europe spend substantial resources on culture and cultural sectors contribute significantly to employment and national income. After briefly describing special features...
Persistent link: https://www.econbiz.de/10003114255
What determines whether or not multinational firms transplant the mode of organisation to other countries? We embed the …
Persistent link: https://www.econbiz.de/10012119950
This paper argues that profit-shifting activities of multi-jurisdictional enterprises (MJE) are maintained under a tax system of consolidation and formula apportionment (FA). A theoretical model discusses how an MJE can exploit its impact on the definition of the consolidated group...
Persistent link: https://www.econbiz.de/10003792841
This paper provides a theory and firm-level evidence on the incorporation decision of entrepreneurs in a model of taxes and corporate governance. The theory explains how the incorporation decision of entrepreneurs is driven by taxation (corporate and personal income taxes), corporate...
Persistent link: https://www.econbiz.de/10003854414
In many countries, the legal system or social norms ensure that firms are stakeholder oriented. We analyze the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to shareholder-oriented firms in a model of imperfect competition....
Persistent link: https://www.econbiz.de/10010249637