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Grandfathering with Anticipation
Costello, Christopher J.; Grainger, Corbett - National Bureau of Economic Research - 2022
Natural resources such as carbon, water, and fish are increasingly managed with markets that require an initial allocation of property rights. In practice these rights are typically grandfathered based on historical use, but rights could be allocated any number of ways. Taking the perspective of...
Persistent link: https://www.econbiz.de/10012938767
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Natural Capital Considerations for an Extension of the U.S. Marine Economy Satellite Account
Wielgus, Jeffrey; Grasso, Mônica; Colgan, Charles S.; … - National Bureau of Economic Research - 2023
In an effort to measure and track marine-dependent economic activities, the United States National Oceanic and Atmospheric Administration (NOAA) has developed two statistical tools: The Economics: National Ocean Watch (ENOW) and the Marine Economy Satellite Account (MESA). In both efforts, the...
Persistent link: https://www.econbiz.de/10014250126
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Syndicated Lending, Competition and Relative Performance Evaluation
Schneider, Thomas Ian; Strahan, Philip E.; Yang, Jun - National Bureau of Economic Research - 2022
Relative performance evaluation (RPE) intensifies competitive pressure by tying executive compensation to the profits of rivals. We show that these contracts make loan syndication harder by reducing banks' willingness to participate in loans underwritten by banks named in their RPE contracts....
Persistent link: https://www.econbiz.de/10013172158
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Synergizing Ventures
Akcigit, Ufuk - 2019
reaching the right tails of the firm size and innovation distributions. Furthermore, outcomes are better for startups matched …
Persistent link: https://www.econbiz.de/10012480140
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Product Market Synergies and Competition in Mergers and Acquisitions : A Text-Based Analysis
Hoberg, Gerard - 2008
market synergies. Using novel text-based analysis of firm 10K product descriptions, we find three key results. (1) Firms are … firms. Our findings are consistent with similar merging firms exploiting synergies to create new products and increase their …
Persistent link: https://www.econbiz.de/10012464357
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Busy Directors : Strategic Interaction and Monitoring Synergies
Ljungqvist, Alexander - 2017
positive or negative monitoring synergies across firms. Whether busyness benefits or harms shareholders depends on whether … directors' effort choices are strategic substitutes or complements and on the sign of the cross-firm synergies. Our empirical … facing a crisis. Consistent with the model, we find that busy directors increase monitoring at spillover firms when synergies …
Persistent link: https://www.econbiz.de/10012453824
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Contracting With Synergies
Edmans, Alex - 2011
This paper studies optimal contracting under synergies. We define influence as the extent to which effort by one agent … reduces a colleague's marginal cost of effort, and synergy to be the sum of the (unidimensional) influence parameters across a … depends only on total synergy and not individual influence parameters. An increase in synergy raises total effort and total …
Persistent link: https://www.econbiz.de/10012461051
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U.S. and Foreign Competition in the Developing Countries of the Asian Pacific Rim
Baldwin, Robert E. - 1987
This paper examines changes since the early 1960s in the export shares of the United States and its major competitors in the markets of the developing countries of the Asian Pacific Rim (APR), defined to include Hong Kong, Korea, Taiwan, Singapore, the Philippines, Malaysia, Thailand, Indonesia,...
Persistent link: https://www.econbiz.de/10012476861
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Trade and Financial Interdependence Under Flexible Exchange Rates : The Pacific Area
de Macedo, Jorge Braga - 1984
This paper analyses policy interdependence under flexible exchange rates and its implications for middle-income countries in the Pacific area. In the first part of the paper, the consequences of strategic behavior among industrial countries are illustrated by means of a simple diagram. It is...
Persistent link: https://www.econbiz.de/10012477569
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The Pacific Basin in World Trade : Part III, An Analysis of Changing Trade Patterns, 1955-1975
Hickman, Bert G. - 1977
This is the third of a sequence of papers on international flows of trade among fifteen Pacific Basin (PB) countries and between them and eleven regions in the Rest of the World (ROW). In Part I of the sequence (Hickman, Kuroda and Lau, 1977a) we presented and documented annual data on bilateral...
Persistent link: https://www.econbiz.de/10012478939