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this line of research to Asia. Japan imposed its system of well-defined property rights in land on some of its Asian … colonies, including Korea, Taiwan and Palau. In 1939 Japan began to survey and register private land in its island colonies, an … land registration obsolete. Third, considering all of Japan's colonies, we use the presence or absence of a land survey as …
Persistent link: https://www.econbiz.de/10013135762
We explore how changes in ownership and managerial control affect the productivity and profitability of producers … gains in capacity utilization that raised both their productivity and profitability levels, consistent with acquiring owner …
Persistent link: https://www.econbiz.de/10013058693
acquisition target based on its productivity level, profitability and other characteristics and whether the performance of … acquisitions improved target firms%u2019 productivity and profitability significantly more and quicker than acquisitions by … domestic firms.Moreover, we find that there is no positive impact on target firms%u2019 profitability in the case of both …
Persistent link: https://www.econbiz.de/10012760742
In the late 1990s, several large Japanese banks failed for the first time in its postwar history. As the financial environment was deteriorating further, several remaining banks decided to merge among themselves, presumably, to make their operations more efficient to avoid failures. This paper...
Persistent link: https://www.econbiz.de/10012758112
Real risk-free interest rates have trended down over the past 30 years. Puzzlingly in light of this decline, (1) the return on private capital has remained stable or even increased, creating an increasing wedge with safe interest rates; (2) stock market valuation ratios have increased only...
Persistent link: https://www.econbiz.de/10012907462
Recent studies document a decline in the share of labour and a simultaneous increase in the share of residual (‘factorless') income in national GDP. We argue the need for study of factor incomes in cross-border production to complement country studies. We define a GVC production function that...
Persistent link: https://www.econbiz.de/10012908162
We complete the study of comparative statics initiated in Caplin and Leahy [2010], which introduced a new mathematical apparatus for understanding NTU allocation markets, as such covering the housing market and other markets for large indivisible goods. We introduce homotopy methods to...
Persistent link: https://www.econbiz.de/10013139024
Many important markets, such as the housing market, involve goods that are both indivisible and of budgetary significance. We introduce new graph theoretic techniques ideally suited to analyzing such markets. In this paper and its companion (Caplin and Leahy [2010]), we use these techniques to...
Persistent link: https://www.econbiz.de/10013139034
In this paper we utilize data on the head-to-head loss rate for students accepted at Williams College, but who opt to enroll elsewhere. For example, we employ data that measure the fraction of students admitted to Williams and to Amherst (or Harvard or Yale, etc.) but who opt to attend Amherst...
Persistent link: https://www.econbiz.de/10013120298
the U.S., Japan, the U.K., Germany, France, Italy, and Spain, as well as Japan during its high growth period. The paper …
Persistent link: https://www.econbiz.de/10013065397