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The economic analysis of corporate governance is en vogue. In addition to a host of theoretical papers, an increasing number of empirical studies analyze how ownership structure, capital structure, the structure of the board and the market for corporate control influence firm performance. This...
Persistent link: https://www.econbiz.de/10013428324
We present a new method for imposing and testing concavity of a cost function using asymptotic least squares, which can easily be implemented even for cost functions which are nonlinear in parameters. We provide an illustration on the basis of a (generalized) Box-Cox cost function with six...
Persistent link: https://www.econbiz.de/10013428379
This paper empirically investigates whether individuals withhold a certain amount of cash for precautionary reasons at … the point-of-sale (POS) in order to be able to cover future transactions that might have to be paid for in cash. Such … being settled in cash declines significantly as the amount of cash available at one’s disposal decreases. This indicates …
Persistent link: https://www.econbiz.de/10010192759
develops a simulation model to test whether standard implications of the theory on cash management and payment choices can …, Germany and the Netherlands, we test the assumption that cash is still the most efficient payment instrument, and the idea …Despite various payment innovations, today, cash is still heavily used to pay for low-value purchases. This paper …
Persistent link: https://www.econbiz.de/10010249691
Netherlands and Germany. Participants received a set of 200 banknotes with either a high or a low average soil level, based on the … actual circulation in two different countries. Real-life circulation in both Germany and the Netherlands is in between these …
Persistent link: https://www.econbiz.de/10011452776
that, for the coin denominations €2, €1, 50 cent and 20 cent roughly the same quantity of euro coins migrate from Germany … Republic of Germany are not materially explained by exports of coins to other euro area countries. …
Persistent link: https://www.econbiz.de/10012272025
Cash is an important means of transaction, generally assumed to be fungible. However, behavioral economics and consumer … research show that 'cash in hand', physically holding on to cash and then handing it away, affects purchasing decisions. I … study how cash in hand influences decisions in a different but very important domain: savings. Savings accounts are a …
Persistent link: https://www.econbiz.de/10012064818
Persistent link: https://www.econbiz.de/10000168403
Persistent link: https://www.econbiz.de/10000168404
Many studies of producer behavior consider cost and input demand functions de-rived from microeconomic theory and …
Persistent link: https://www.econbiz.de/10011622104