We argue that the recent corporate governance reform in the Netherlands provides a natural experiment to explore the … outside the Netherlands, Dutch firms significantly reduced their leverage following the passage of the reform. Our findings …

We take a dynamic perspective on insurance markets under adverseselection and study a generalized Rothschildand … dynamic contracts. An unconditional dynamiccontract has insurance companies offeringcontracts where the terms of the contract … on individualpast performance (like in car insurances). Weinvestigate whether allowing insurance companies to offer …

when insurance companies have market power. Using analytical models, we compare a public-welfare maximizing monopoly with a … accident externality that individual drivers impose on one another via their presence on the road. Insurance companies will … internalize some of these externalities, depending on their degree of market power. We derive optimal insurance premiums, and …