Showing 1 - 10 of 204
Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the trust of residents of a bank's countries of operation in the residents of a potential target country of investment has a positive, statistically significant, and economically...
Persistent link: https://www.econbiz.de/10013477202
In 2017, "The Big Three" institutional investors launched campaigns to increase gender diversity on corporate boards. We estimate that their campaigns led American corporations to add at least 2.5 times as many female directors in 2019 as they had in 2016. Firms increased diversity by...
Persistent link: https://www.econbiz.de/10013462705
Does the economic model of optimal punishment explain the variation in the sentencing of murderers? As the model … respond to victim characteristics in a way that is hard to reconcile with optimal punishment. In particular, victim … optimal punishment model predicts that victim characteristics should be ignored. Among vehicular homicides, drivers who kill …
Persistent link: https://www.econbiz.de/10012471091
This article surveys the theory of the public enforcement of law -- the use of public agents (inspectors, tax auditors, police, prosecutors) to detect and to sanction violators of legal rules. We first present the basic elements of the theory, focusing on the probability of imposition of...
Persistent link: https://www.econbiz.de/10012471807
Penalties for tax evasion are typically financial, but many jurisdictions also utilize collateral sanctions that deny access to some government-provided service. To learn about the effectiveness of such penalties, we examine a U.S. policy restricting passport access for taxpayers with...
Persistent link: https://www.econbiz.de/10012599319
dissonance, increasing the severity of punishment could increase the crime rate. This paper demonstrates that that conjecture was … punishment is not severe. The rationalization may lead them to underestimate the expected utility of committing crimes when … opportunities present themselves. If punishment is severe, then rationalization may not be necessary and people may be more likely …
Persistent link: https://www.econbiz.de/10012477191
This paper examines the use of fines and imprisonment to deter individuals from engaging in harmful activities. These sanctions are analyzed separately as well as together, first for identical risk-neutral individuals and then for two groups of risk-neutral individuals who differ by wealth. When...
Persistent link: https://www.econbiz.de/10012478175
The present paper analyzes the competitive, monopolistic, and public enforcement of fines allowing for the costs of enforcement to differ by the choice of the enforcer. There are a number of reasons to expect such differences. First, the benefits from coordinating enforcement -- for example,...
Persistent link: https://www.econbiz.de/10012478810
punishment, a reexamination of which, in both theory and practice, is the object of the paper …
Persistent link: https://www.econbiz.de/10012479107
The prison time actually served by a convicted criminal depends to a significant degree on decisions made by the state during the course of imprisonment--on whether to grant parole or other forms of sentence reduction. In this article we study a model of the adjustment of sentences assuming that...
Persistent link: https://www.econbiz.de/10012480030