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The Uncharted Waters of International Trade

Antràs, Pol - National Bureau of Economic Research - 2024

The field of international trade has undergone significant theoretical and empirical advancements over the last twenty-five years. A key breakthrough has been the emergence of firm-level approaches to studying exporting, importing, and global value chains. The field has also experienced a...

Persistent link: https://www.econbiz.de/10015171713

Financing Decisions and Product Introductions of Private and Publicly Traded Firms

Phillips, Gordon - 2014

We exploit Medicare national coverage reimbursement approvals of medical devices as a quasi-natural experiment to investigate how private and publicly traded firm financing decisions and product introductions respond to exogenous changes in investment opportunities. We find that publicly traded...

Persistent link: https://www.econbiz.de/10012458087

Contractual Tradeoffs and SMEs Choice of Organizational Form, A View from U.S. and French History, 1830-2000

Lamoreaux, Naomi R. - 2006

Today the vast majority of multi-owner firms in the United States are corporations, but that was not the case in the past. Before the advent of the income tax, tort litigation, and significant federal regulation, entrepreneurs more often than not chose to organize as partnerships, a form that...

Persistent link: https://www.econbiz.de/10012466209

Tax Distortions to the Choice of Organizational Form

Gordon, Roger H. - 1992

Income from corporate and noncorporate firms is treated very differently under the tax law. To what degree do firms change their form of organization in response? Since the relative tax treatment depends on the tax bracket of the investor, the answer will vary by the bracket of the owners. To...

Persistent link: https://www.econbiz.de/10012474736

Corporate Governance and the Plight of Minority Shareholders in the United States Before the Great Depression

Lamoreaux, Naomi R. - 2004

partnership so as to prevent disputes from having similarly disruptive effects on corporations. The cost of this differentiation …, the choice of whether or not to form a firm, and whether to organize it as a partnership or a corporation, was a function … of the expected profitability of the enterprise and the probability that a partnership would suffer untimely dissolution …

Persistent link: https://www.econbiz.de/10012467787

How Much Do Taxes Discourage Incorporation

MacKie-Mason, Jeffrey K. - 1991

One of the most basic distortions created by the double taxation of corporate income is the disincentive to incorporate. In this paper, we investigate the extent to which the aggregate allocation of assets and taxable income in the U.S. between corporate vs. noncorporate forms of organization...

Persistent link: https://www.econbiz.de/10012475219

Bonus Question : Does Flexible Incentive Pay Dampen Unemployment Dynamics?

Gaur, Meghana; Grigsby, John R.; Hazell, Jonathon; … - National Bureau of Economic Research - 2023

We introduce dynamic incentive contracts into a model of unemployment dynamics and present three results. First, wage cyclicality from incentives does not dampen unemployment dynamics: the response of unemployment to shocks is first-order equivalent in an economy with flexible incentive pay and...

Persistent link: https://www.econbiz.de/10014372479

Are Asset Price Guarantees Useful for Preventing Sudden Stops? : A Quantitative Investigation of the Globalization Hazard-Moral Hazard Tradeoff

Durdu, Ceyhun Bora - 2005

The globalization hazard hypothesis maintains that the current account reversals and asset price collapses observed during 'Sudden Stops' are caused by global capital market frictions. A policy implication of this view is that Sudden Stops can be prevented by offering global investors price...

Persistent link: https://www.econbiz.de/10012467507

Putting the Brakes on Sudden Stops : The Financial Frictions-Moral Hazard Tradeoff of Asset Price Guarantees

Mendoza, Enrique G. - 2004

The hypothesis that Sudden Stops to capital inflows in emerging economies may be caused by global capital market frictions, such as collateral constraints and trading costs, suggests that Sudden Stops could be prevented by offering price guarantees on the emerging-markets asset class. Providing...

Persistent link: https://www.econbiz.de/10012467900

The Dynamics of Seller Reputation : Theory and Evidence from eBay

Cabral, Luis - 2004

We propose a basic theoretical model of eBay's reputation mechanism, derive a series of implications and empirically test their validity. Our theoretical model features both adverse selection and moral hazard. We show that when a seller receives a negative rating for the first time his...

Persistent link: https://www.econbiz.de/10012468330