competition for matches may solve hold-up and coordination problems generated by the absence of complete contingent contracts. In … particular, this paper shows that when matching is assortative and sellers’ investments precede market competition then … coordination failures. Different types of efficiency arise when buyers undertake investment before market competition. These …

incentive effect of competition on innovation and the effect competition has on the degree of credit rationing. I find that the … levels of competition. These predictions are supported by empirical evidence: The competition-innovation relationship has an … developed financial systems. Innovation-enhancing policies implemented through competition reforms ought to be complemented by …

be bad based on private and public information. The paper provides a reason for why competition in the ratings industry …

-standards competition triggers less aggressive price competition than between-standards competition. We also find that an early monopolist …

competition, measured as the strength of coverage of a stock from other analysts. The interaction among analysts and investors is …

Focusing on homogeneous beliefs, we can distinguish two commonly shared ideas that, i) the competition between informed … market, i) the informativeness of prices increases with the degree of competition and, ii) the aggregate and individual …