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Does the Profit Motive Make Jack Nimble? Ownership Form and the Evolution of the U.S. Hospital Industry
Chakravarty, Sujoy - 2005
We examine the evolving structure of the U.S. hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding...
Persistent link: https://www.econbiz.de/10012466967
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Is There a Diversification Discount in Financial Conglomerates?
Laeven, Luc - 2005
influences their market valuations. We find that there is a diversification discount: The market …not sufficiently large to produce a diversification premium …
Persistent link: https://www.econbiz.de/10012467179
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Do Nontraded Goods Explain the Home Bias Puzzle?
Pesenti, Paolo - 1996
domestic shares under full diversification. When stock-market data are directly used, the predicted coefficient of home bias …
Persistent link: https://www.econbiz.de/10012473049
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Industrial De-Diversification and its Consequences for Productivity
Lichtenberg, Frank R. - 1990
diversification declined significantly during the second half of the decade. The mean number of industries in which firms operated … operated. using plant-level Census Bureau data, we show that productivity is inversely related to the degree of diversification …, the lower the productivity of its plants. Hence de-diversification is one of the means by which recent takeovers have …
Persistent link: https://www.econbiz.de/10012475806
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Frictions in a Competitive, Regulated Market : Evidence from Taxis
Fréchette, Guillaume R. - 2018
This paper presents a dynamic general equilibrium model of a taxi market. The model is estimated using data from New York City yellow cabs. Two salient features by which most taxi markets deviate from the efficient market ideal are, first, matching frictions created by the need for both market...
Persistent link: https://www.econbiz.de/10012480576
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How Much of Barrier to Entry is Occupational Licensing?
Blair, Peter Q. - 2018
We exploit state variation in licensing laws to study the effect of licensing on occupational choice using a boundary discontinuity design. We find that licensing reduces equilibrium labor supply by an average of 17%-27%. The negative labor supply effects of licensing appear to be strongest for...
Persistent link: https://www.econbiz.de/10012480913
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The Effects of Entry on Incumbent Innovation and Productivity
Aghion, Philippe - 2006
How does firm entry affect innovation incentives and productivity growth in incumbent firms? Micro-data suggests that there is heterogeneity across industries--incumbents in technologically advanced industries react positively to foreign firm entry, but not in laggard industries. To explain this...
Persistent link: https://www.econbiz.de/10012466642
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How do Incumbents Respond to the Threat of Entry? Evidence from the Major Airlines
Goolsbee, Austan - 2005
We examine how incumbents respond to the threat of entry by competitors (as distinct from how they respond to actual entry). We look specifically at passenger airlines, using the evolution of Southwest Airlines' route network to identify particular routes where the probability of future entry...
Persistent link: https://www.econbiz.de/10012467615
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"Success Taxes," Entrepreneurial Entry, and Innovation
Gentry, William M. - 2004
Interest in the role of entrepreneurial entry in innovation raises the question of the extent to which tax policy encourages or discourages entry. We find that, while the level of the marginal tax rate has a negative effect in entrepreneurial entry, the progressivity of the tax also discourages...
Persistent link: https://www.econbiz.de/10012468142
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Entry Deterrence in Hospital Procedure Markets : A Simple Model of Learning-By-Doing
Dafny, Leemore S. - 2003
This paper examines the strategic behavior of hospitals in one of their primary output markets: inpatient surgical procedures. High levels of learning-by-doing in surgical fields may act as a barrier to entry. I investigate whether incumbent hospitals facing prospective entry in a procedure...
Persistent link: https://www.econbiz.de/10012468826