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We argue in this paper that retailers can strategically position store brands in product space to strengthen their bargaining position when negotiating supply terms with manufacturers of national brands. Using a bargaining framework we model a retailer's decision whether to carry an additional...
Persistent link: https://www.econbiz.de/10012471049
dramatically affected profitability of these goods, and raised concerns for future development of socially valuable digital …
Persistent link: https://www.econbiz.de/10008738354
U.S. airlines have lost nearly $60 billion (2009 dollars) in domestic markets since deregulation, most of it in the last decade. More than 30 years after domestic airline markets were deregulated, the dismal financial record is a puzzle that challenges the economics of deregulation. I examine...
Persistent link: https://www.econbiz.de/10012461914
profitability of momentum-related asset pricing factors. Before the reform, funds pursuing the same investment style had correlated … reform happened. We estimate that the reform explains 25%-50% of the long-term profitability drop in momentum-related factors …
Persistent link: https://www.econbiz.de/10012496178
Recent work on wealth inequality based on the capitalization method wherein aggregate wealth totals are distributed in proportion to various forms of income like dividends has motivated a concern about whether rates of return on assets vary across the wealth distribution. In this study, I use a...
Persistent link: https://www.econbiz.de/10013435105
Privatization has been shown to increase growth and profitability of public firms. However, effects on consumers are … operators may improve hospitals' financial performance, but a focus on profitability may adversely affect access to care for …-2018 period. Private operators improve profitability so that hospitals generate a modest surplus, primarily by increasing mean …
Persistent link: https://www.econbiz.de/10013537718
Persistent link: https://www.econbiz.de/10013477485
We use plant-level data from the US Census of Manufacturers to study the short and long run effects of temperature on manufacturing activity. We document that temperature shocks significantly increase energy costs and lower the productivity of small manufacturing plants, while large plants are...
Persistent link: https://www.econbiz.de/10014337767
In competitive capital markets, risky debt claims that offer high yields in good times have high systematic risk exposure in bad times. We apply this idea to bank risk measurement. We find that banks with high accounting return on equity (ROE) prior to a crisis have higher systematic tail risk...
Persistent link: https://www.econbiz.de/10014337867
Applications for new businesses from the U.S. Census Bureau's monthly and weekly Business Formation Statistics (BFS) fell substantially in the early stages of the pandemic but then surged in the second half of 2020. This surge has continued through May 2021. The pace of applications since...
Persistent link: https://www.econbiz.de/10012585396