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Asset stripping, rule of law and firm survival : the Hoff-Stiglitz model and mass privatization in Montenegro

Koman, Matjaž; Lakičević, Milan; Prašnikar, Janez; … - 2013

-oriented issue of why a large number of efficient firms disappeared during mass privatization in a booming economy of Montenegro …. Econometrically, we present the first study to look at firms that disappeared during a mass privatization transition, improving upon … remaining in samples when estimating the effects of privatization or other ownership changes. We also show that one needs to …

Persistent link: https://www.econbiz.de/10010226663

How transition paths differ : enterprise performance in Russia and China

Bhaumik, Sumon Kumar (contributor); Estrin, Saul (contributor) - 2005

We use enterprise data to analyse and contrast the determinants of enterprise performance in China and Russia. We find that in China, enterprise growth and efficiency is associated with rapid increases in factor inputs, but not correlated with ownership or institutional factors. However, in...

Persistent link: https://www.econbiz.de/10002603928

Legal default rules : the case of wrongful discharge laws

MacLeod, William Bentley (contributor); … - 2006

One of the most vexing public policy issues is the extent to which governments should intervene into private contractual relationships. The purpose of this paper is to explore both theoretically and empirically the extent to which such interventions may enhance efficiency. In the case of...

Persistent link: https://www.econbiz.de/10003278950

Reputations, relationships and the enforcement of incomplete contracts

MacLeod, William Bentley (contributor) - 2006

This paper discusses the literature on the enforcement of incomplete contracts. It compares legal enforcement to enforcement via relationships and reputations. A number of mechanisms, such as the repeat purchase mechanism (Klein and Leffler (1981)) and efficiency wages (Shapiro and Stiglitz...

Persistent link: https://www.econbiz.de/10003278957

Producer protection legislation and termination damages in the presence of contracting frictions

Wu, Steven - 2009

This study models producer protection legislation that would grant growers the right to claim damages (PPLD) if their contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning contracts to accommodate exogenous policy changes, PPLD...

Persistent link: https://www.econbiz.de/10003894440

Contracts between legal persons

Kornhauser, Lewis A.; MacLeod, William Bentley - 2010

Contract law and the economics of contract have, for the most part, developed independently of each other. In this essay, we briefly review the notion of a contract from the perspective of lawyer, and then use this framework to organize the economics literature on contract. The title, Contracts...

Persistent link: https://www.econbiz.de/10009312933

The economics of first-contract mediation

Dobbelaere, Sabien; Luttens, Roland Iwan - 2013

This paper provides an economic foundation for non-binding mediation to stimulate first collective bargaining agreements, as implemented in British Columbia since 1993. We show that the outcome of first-contract mediation is Pareto efficient and proves immune to the insider-outsider problem of...

Persistent link: https://www.econbiz.de/10009786453

Court-ship, kinship and business : a study on the interaction between the formal and the informal institutions and its effect on entrepreneurship

Chakraborty, Tanika; Mukherjee, Anirban; Saha, Sarani - 2015

In this paper we theoretically and empirically examine how the interaction between the formal court system and the informal loan network affects a household's decision to start a business. We find that when the formal court system is weak, expansion of informal credit network leads to the...

Persistent link: https://www.econbiz.de/10010488828

Do the selfish mimic cooperators? : experimental evidence from finitely-repeated labor markets

Roe, Brian; Wu, Steven Y. - 2009

Experimental studies have consistently shown that cooperative outcomes can emerge even in finitely repeated games. Such outcomes are justified by existing reputation building models, which suggest that cooperative outcomes can be sustained if some subjects have other-regarding preferences. While...

Persistent link: https://www.econbiz.de/10003829127

Transfer fee regulations in European football

Feess, Eberhard; Mühlheußer, Gerd - 2002

We analyze the impact of three different transfer fee systems on payoffs, contract lengths, training and effort incentives in European football. The different regimes, being used until 1995 ("Pre-Bosman" or P), currently in use ("Bosman" or B), and recently approved ("Monti" or M) differ with...

Persistent link: https://www.econbiz.de/10011405887

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