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Stock market returns, corporate governance and capital market equilibrium
Parigi, Bruno; Pelizzon, Loriana; Thadden, Ernst-Ludwig von - 2013
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/10010212666
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Do management practices matter in further education?
McNally, Sandra; Schmidt, Luis; Valero, Anna - 2022
Further Education colleges are a key way in which 16-19 year olds acquire skills in the UK (much like US Community Colleges), especially those from low income backgrounds. Yet, little is known about what could improve performance in these institutions. We design and conduct the world’s first...
Persistent link: https://www.econbiz.de/10013176947
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Peer effects and the gender gap in corporate leadership : evidence from MBA students
Hampole, Menaka; Truffa, Francesca; Wong, Ashley - 2024
Women continue to be underrepresented in corporate leadership positions. This paper studies the role of social connections in women's career advancement. We investigate whether access to a larger share of female peers in business school affects the gender gap in senior managerial positions....
Persistent link: https://www.econbiz.de/10015050800
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Investment in broadband infrastructure under local deregulation : evidence from the UK broadband market
Fabritz, Nadine; Falck, Oliver - 2013
This paper investigates telecommunication operator investment in broadband infrastructure after local deregulation of the wholesale broadband access market. Using a panel dataset covering all 5,598 exchange areas in the United Kingdom, we exploit regional differences in deregulation following a...
Persistent link: https://www.econbiz.de/10009752995
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Prices vs. quantities with endogenous cost structure
Storrøsten, Halvor Briseid - 2014
Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing …
Persistent link: https://www.econbiz.de/10010238324
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Irreversible investments and regulatory risk
Panteghini, Paolo; Scarpa, Carlo - 2003
This paper addresses the issue of how regulatory constraints affect firm s investment choices when the firm has an option to delay investment. The RPI-x rule is compared to a profit sharing rule, which increases the x factor in case profits go beyond a given level. It is shown that a pure price...
Persistent link: https://www.econbiz.de/10011507879
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Investment size and firm's value under profit sharing regulation
Moretto, Michele; Panteghini, Paolo; Scarpa, Carlo - 2003
In this article we analyse the effects of different regulatory schemes (price cap and profit sharing) on a firm s investment of endogenous size. Using a real option approach in continuous time, we show that profit sharing does not affect a firm s start-up decision relative to a pure price cap...
Persistent link: https://www.econbiz.de/10011509471
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Regulation in Swiss cantons : data for one country
Lüchinger, Simon; Schelker, Mark - 2015
In this paper, we present and illustrate novel data on more than a century of regulation in Switzerland. We provide … reflected in the annual changes to such regulation from 1908-2013. We measure the stock of regulation by the number of … heterogeneity in the stock of regulation and the amount and development of regulatory activity. Regulatory activity generally …
Persistent link: https://www.econbiz.de/10011405724
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The new systems competition
Sinn, Hans-Werner - 2001
While the old systems competition took place with closed borders, globalisation has brought about a new type of systems competition that is driven by the mobility of factors of production. The new systems competition will likely imply the erosion of the European welfare state, induce a race to...
Persistent link: https://www.econbiz.de/10011408441
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The interplay between regulation and competitions : the case of universal service obligations
Hörnig, Steffen; Valletti, Tommaso M. - 2002
Regulators have long been aware of the social aspects of communication. In the past, regulated monopolists have provided Universal Service Obligations, typically funded via a system of cross-subsidies. In this paper, we first review the rationale for imposing Universal Service Obligations, based...
Persistent link: https://www.econbiz.de/10011409371