Showing 1 - 10 of 59
This paper explores the economic role credit rating agencies play in the corporate bond market. We consider three existing theories about multiple ratings: information production, rating shopping and regulatory certification. Using differences in rating composition, default prediction and credit...
Persistent link: https://www.econbiz.de/10013156427
We investigate the role of competition on the outcome of Austrian Treasury auctions. Austria's EU accession led to an … examine the effect of increased competition on auction performance: We find that increased competition reduced bidder surplus … aggressive bidding. Counterfactuals establish that as competition increases, concerns regarding auction format play a smaller …
Persistent link: https://www.econbiz.de/10011495132
Persistent link: https://www.econbiz.de/10009734812
their general online attention patterns. This conclusion has important implications for competition and welfare in other …
Persistent link: https://www.econbiz.de/10012986680
This paper studies the impact that capital market imperfections have on the natural" selection of the most efficient firms by estimating the effect of the pre-deregulation level of" leverage on the survival of trucking firms after the Carter deregulation. Highly leveraged" carriers are less...
Persistent link: https://www.econbiz.de/10013215356
straightforward empirical tests from a model of patient demand, procedure quality, and differentiated product competition. Using …
Persistent link: https://www.econbiz.de/10013222631
degree of competition in a market with the share of nonprofits: the availability of economic profits under for-profit status …
Persistent link: https://www.econbiz.de/10013224865
autarkies" to a nationally integrated market. I demonstrate that the results of increased competition were" what industrial …
Persistent link: https://www.econbiz.de/10013233735
into schools when peer effects are present. The model predicts that competition will lead private schools to give tuition …
Persistent link: https://www.econbiz.de/10013236684
This paper examines the introduction of Direct Broadcast Satellites as an alternative to cable television and the welfare gains such satellites generated for consumers. The extent to which satellites compete with cable has become an important issue in the debate over re-regulation of cable...
Persistent link: https://www.econbiz.de/10013237546