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Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts

Farhi, Emmanuel - 2009

The paper elicits a mechanism by which private leverage choices exhibit strategic complementarities through the reaction of monetary policy. When everyone engages in maturity transformation, authorities have little choice but facilitating refinancing. In turn, refusing to adopt a risky balance...

Persistent link: https://www.econbiz.de/10012463512

The Economics of Bank Supervision

Eisenbach, Thomas M. - 2016

We study bank supervision by combining a theoretical model distinguishing supervision from regulation and a novel … supervision and use the model to interpret the relation between supervisory efforts and bank characteristics observed in the data … proportionally with bank size, suggesting the presence of technological scale economies in supervision. The data also show …

Persistent link: https://www.econbiz.de/10012456474

Integrated Political Strategy

de Figueiredo, John M. - 2009

This paper reviews the literature on corporate political strategy and identifies a number of open research questions and streams for potential investigation. The paper develops a framework to explain why, when, and how a firm will pursue multi-forum political action as part of its non-market and...

Persistent link: https://www.econbiz.de/10012463597

Business Strategy and the Management of Firms

Yang, Mu-Jeung - 2015

Business strategy can be defined as a firm's plan to generate economic profits based on lower cost, better quality, or new products. The analysis of business strategy is thus at the intersection of market competition and a firm's efforts to secure persistently superior performance via...

Persistent link: https://www.econbiz.de/10012457820

Spatial Competition, Strategic Entry Responses, and the North Dakota Railroad War of 1905

Syverson, Chad - National Bureau of Economic Research - 2024

The North Dakota Railroad War of 1905, which pitted a potential entrant (the Soo Line) against an established monopolist incumbent (the Great Northern Railway), offers a lucid empirical example of strategic behavior, and in particular the potential for entry deterrence through product...

Persistent link: https://www.econbiz.de/10014576577

Why Tie A Product Consumers Do Not Use?

Carlton, Dennis W. - 2007

This paper provides a new explanation for tying that is not based on any of the standard explanations -- efficiency, price discrimination, and exclusion. Our analysis shows how a monopolist sometimes has an incentive to tie a complementary good to its monopolized good in order to transfer...

Persistent link: https://www.econbiz.de/10012465313

Strategic Information Disclosure : The Case of Multi-Attribute Products with Heterogeneous Consumers

Hotz, V. Joseph - 2006

We examine the incentives for firms to voluntarily disclose otherwise private information about the quality attributes of their products. In particular, we focus on the case of differentiated products with multiple attributes and heterogeneous consumers. We show that there exist certain...

Persistent link: https://www.econbiz.de/10012466734

Executive Compensation, Strategic Competition, and Relative Performance Evaluation : Theory and Evidence

Aggarwal, Rajesh - 1996

We argue that strategic interactions between firms in an oligopoly can explain the puzzling lack of high-powered incentives in executive compensation contracts written by shareholders whose objective is to maximize the value of their shares. We derive the optimal compensation contracts for...

Persistent link: https://www.econbiz.de/10012473194

Pricing Strategy and Financial Policy

Dasgupta, Sudipto - 1996

Recent empirical evidence indicates that capital structure changes affect pricing strategies. In most cases, prices increase following the implementation of a leveraged buyout of a major firm in an industry, with the more levered firm charging higher prices on average. Notable exceptions exist...

Persistent link: https://www.econbiz.de/10012473361

Strategic Trade Policy When Domestic Firms Compete Against Vertically Integrated Rivals

Rodrik, Dani - 1989

This paper models the international competition between a domestic firm and its vertically integrated foreign rival. The domestic firm has the choice of developing its own production capability for an intermediate input, or of importing it from the foreign firm at a price set by the latter. In...

Persistent link: https://www.econbiz.de/10012476137

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