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Reexamination of the A-J effect
Caputo, Michael R.; Partovi, M. Hossein - In: Economics Bulletin 12 (2002) 8, pp. 1-9
We establish four necessary and sufficient conditions for the existence of the Averch-Johnson effect in a generalized version of their famous model of the rate-of-return regulated firm. The four necessary and sufficient conditions are then compared to the two stronger sufficient conditions for...
Persistent link: https://www.econbiz.de/10005094643
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Reexamination of the A-J effect
Caputo, Michael R.; Partovi, M. Hossein - In: Economics Bulletin 12 (2002) 10, pp. 1-9
We establish four necessary and sufficient conditions for the existence of the Averch-Johnson effect in a generalized version of their famous model of the rate-of-return regulated firm. The four necessary and sufficient conditions are then compared to the two stronger sufficient conditions for...
Persistent link: https://www.econbiz.de/10005416932
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Reexamination of the A-J effect
Caputo, Michael R.; Partovi, M. Hossein - In: Economics Bulletin 12 (2002) 10, pp. 1-9
We establish four necessary and sufficient conditions for the existence of the Averch-Johnson effect in a generalized version of their famous model of the rate-of-return regulated firm. The four necessary and sufficient conditions are then compared to the two stronger sufficient conditions for...
Persistent link: https://www.econbiz.de/10010629996
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Capital Structure and Regulation in U.S. Local Telephony: an Exploratory Econometric Study
Resende, Marcelo - In: Economics Bulletin 30 (2010) 1, pp. 392-404
as a response to previous physical capital investment with an ultimate goal of inducing higher rates. Theoretical models …) and gross investment (INV) in physical capital. The evidence accruing from a dynamic panel data estimation indicates an … with the notion that the size of the firm´s investment project can impose a restriction on the amount of new debt. The …
Persistent link: https://www.econbiz.de/10010629387
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Capital Structure and Regulation in U.S. Local Telephony: an Exploratory Econometric Study
Resende, Marcelo - In: Economics Bulletin 30 (2010) 1, pp. 392-404
as a response to previous physical capital investment with an ultimate goal of inducing higher rates. Theoretical models …) and gross investment (INV) in physical capital. The evidence accruing from a dynamic panel data estimation indicates an … with the notion that the size of the firm´s investment project can impose a restriction on the amount of new debt. The …
Persistent link: https://www.econbiz.de/10008563166
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Ownership concentration, monitoring, and optimal board structure
Graziano, Clara; Luporini, Annalisa - In: Economics Bulletin 32 (2012) 4, pp. 3333-3346
shareholder and provide the manager with the incentive to exert effort to become informed on investment projects without reducing …
Persistent link: https://www.econbiz.de/10011278523
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Stock option contract design and managerial fraud
Santore, Rudy; Tackie, Martin - In: Economics Bulletin 33 (2013) 2, pp. 1283-1289
Stock option contracts provide managers with dual incentives, motivating both effort and fraud. We show that although there exists an infinity of stock option contracts that induce a given level of effort, no contract behaviorally dominates another in the sense that it induces relatively greater...
Persistent link: https://www.econbiz.de/10010835978
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Family management: creating or destroying firm value?
Costa, Cristiano M.; Galdi, Fernando Caio; Motoki, … - In: Economics Bulletin 34 (2014) 4, pp. 2292-2302
This research explores whether management by family members creates or destroys firm value. We estimate the impact of family pervasiveness in top management (family members as executive officers or board members) on firm value as measured by Tobin's Q. Results indicate that family members acting...
Persistent link: https://www.econbiz.de/10011039057
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Small business investment sensitivity of debt before and during the global crisis
Benkraiem, Ramzi - In: Economics Bulletin 34 (2014) 2, pp. 1185-1196
This article aims at studying the influence of debt on small business investment in a European context, i.e. France …
Persistent link: https://www.econbiz.de/10010836335
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Temporary Work as an Active Labor Market Policy: Evaluating an Innovative Activation Program for Disadvantaged Youths
Ehlert, Christoph R.; Kluve, Jochen; Schaffner, Sandra - In: Economics Bulletin 32 (2012) 2, pp. 1765-1773
While high rates of youth unemployment are a severe problem in most European countries, the program evaluation literature shows that di sadvantaged youths constitute a group that is particularly difficult to assist effectively. As innovative measures are thus needed, we evaluate a German pilot...
Persistent link: https://www.econbiz.de/10011408860