Showing 1 - 10 of 170
theory to capture port technology, with tools from demand estimation. We use our framework, together with a collection of … unveils three policy-relevant messages: (i) investing in port infrastructure can lead to substantial trade and welfare gains …) there are sizable spillovers across ports, as investing in one port can decongest a wider set of ports, suggesting that …
Persistent link: https://www.econbiz.de/10014544781
determinant of shipping costs. Improving port efficiency from the 25th to the 75th percentile reduces shipping costs by 12 percent … explain variations in port efficiency and find that they are linked to excessive regulation, the prevalence of organized crime …
Persistent link: https://www.econbiz.de/10012468340
that allows one to compare port efficiency measures of any kind across ports and, especially, over time. This paper … provides a new statistical method of uncovering port efficiency measures using U.S. Census data on imports into U.S. ports … evolution of port efficiencies over time and its effects on international trade flows and country-level growth …
Persistent link: https://www.econbiz.de/10012466617
groups. We exploit quasi-random variation in vessels in port from weather events far out in the ocean to estimate how port … traffic influences air pollution and human health. We find that one additional vessel in a port over a year leads to 3 ….0 hospital visits per thousand Black residents within 25 miles of the port and only 1.0 per thousand for whites. We assess a port …
Persistent link: https://www.econbiz.de/10012599398
There are many industries in which potentially competitive segments require services provided by natural monopoly bottlenecks (essential facilities). Since it is difficult to regulate these facilities, developing countries are using Demsetz auctions, where the facility is awarded to the firm...
Persistent link: https://www.econbiz.de/10012470580
This paper examines how governance and risk management affect risk-taking in banks. It distinguishes between good risks, which are risks that have an ex ante private reward for the bank on a stand-alone basis, and bad risks, which do not have such a reward. A well-governed bank takes the amount...
Persistent link: https://www.econbiz.de/10011955539
This paper robustly concludes that it cannot. A model is constructed under idealised conditions that presume the risks associated with artificial general intelligence (AGI) are real, that safe AGI products are possible, and that there exist socially-minded funders who are interested in funding...
Persistent link: https://www.econbiz.de/10014437055
We provide new evidence that debt creates shareholder value for firms that face agency costs. Our tests are unique in two respects. First, we focus on a sample of firms with potentially extreme agency problems. We study emerging market firms where the routine use of pyramid ownership structures...
Persistent link: https://www.econbiz.de/10012470266
Corporate-governance provisions related to takeover defenses and shareholder rights vary substantially across firms. In this paper, we use the incidence of 24 different provisions to build a 'Governance Index' for about 1,500 firms per year, and then we study the relationship between this index...
Persistent link: https://www.econbiz.de/10012470270
Using an extensive longitudinal data set on franchising firms, we show that established franchisors manage their portfolio of company and franchised units to maintain a particular target level of corporate control and ownership of outlets. On average, established franchisors maintain about 15...
Persistent link: https://www.econbiz.de/10012470303