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Efficiency among Private Railway Companies in a weakly Regulated System: The Case of Britain’s Railways in 1893-1912

Mulatu, Abay; Crafts, Nicholas F. R. - London School of Economics and Political Science - 2005

This paper uses a stochastic cost frontier model to investigate the efficiency of Britain’s private railways during the … that private ownership per se is not sufficient to promote efficiency in the railway industry; it should be supported by …

Persistent link: https://www.econbiz.de/10005870948

Is Privatization Enough? Finding Performance Breaks for UK Power Plants

Triebs, Thomas P.; Pollitt, Michael G. - Judge Business School <Cambridge> - 2010

than privatization itself. We ask what changes around privatization had the greatest impact on efficiency for UK … electricity generators. We analyse the effects of privatization and other changes in incentives on plant efficiency using a newly … compiled unbalanced panel of about 60 plants for the years 1980 to 2004. We measure efficiency as input demands for two …

Persistent link: https://www.econbiz.de/10009354096

Financial transactions taxes

Shome, Parthasarathi - 2011

This paper attempts to address both theoretical and practical considerations for a tax such as financial transactions taxes (FTT). It includes examples of FTT in the wider context, for example, on stocks and derivatives, currency transactions, and tangible property. Most of the discussion...

Persistent link: https://www.econbiz.de/10011807660

International Price and Earnings Momentum

Leippold, Markus; Lohre, Harald - National Centre of Competence in ResearchFinancial … - 2008

We find that price and earnings momentum are pervasive features of international equitymarkets when controlling for data snooping biases. For European countries, we find that pricemomentum is subsumed by earnings momentum on an aggregate level. However, this rationaledoes not apply to each and...

Persistent link: https://www.econbiz.de/10005868982

Managerial Incentives and the Efficiency of Capital Structure in U.S. Commercial Banking

Hughes, Joseph P.; Lang, William W.; Moon, Choon-Geol; … - 2004

We extend the literature on the effects of managerial entrenchment to consider how safety-net subsidies and financial distress costs interact with managerial incentives to influence capital structure in U.S. commercial banking. Using cross-sectional data on publicly traded, highest-level U.S....

Persistent link: https://www.econbiz.de/10010263221

Estimating Managers' Utility Maximizing Demand for Agency Goods

Hughes, Joseph P.; Moon, Choon-Geol - 2003

An empirical model of managers' demand for agency goods is derived and estimated using the Almost Ideal Demand System of Deaton and Muellbauer (AER 1980). As in Jensen and Meckling (JFE 1976), we derive managers' demand for agency goods by maximizing a managerial utility function where managers...

Persistent link: https://www.econbiz.de/10010274320

The German excellence initiative and efficiency change among universities, 2001-2011

Gawellek, Bastian; Sunder, Marco - 2016

terms of productivity and technical efficiency than universities that did not apply for the program, albeit these dimensions … applicants suffered a drop in efficiency at the time of applying. All this does not rule out, however, that research …-oriented universities jointly gained productivity through increased competition between them. …

Persistent link: https://www.econbiz.de/10011420348

Does competition justify inequality?

Bartling, Björn; Grieder, Manuel; Zehnder, Christian - 2015

Are competitive mechanisms perceived as just sources of economic inequality? Perceptions of fairness violations can have severe economic consequences, as they may cause counterproductive behavior such as rulebook slowdowns or quality shading. To analyze fairness perceptions associated with...

Persistent link: https://www.econbiz.de/10011420556

Intangible investment and technical efficiency: The case of software-intensive manufacturing firms in Turkey

Fındık, Derya; Tansel, Aysit - 2015

This chapter analyzes the effect of intangible investment on firm efficiency with an emphasis on its software component … technical efficiency in the software intensive manufacturing firms in Turkey for the period 2003-2007. Firms are classified … differentials in their firm efficiency. The results show that the effect of software investment on firm efficiency is larger in high …

Persistent link: https://www.econbiz.de/10011440129

Semiparametric instrumental variable estimation in an endogenous treatment model

Klein, Roger; Shen, Chan - 2015

We propose instrumental variable(IV) estimators for quantile marginal effects and the parameters upon which they depend in a semiparametric outcome model with endogenous discrete treatment variables. We prove identification, consistency, and asymptotic normality of the estimators. We also show...

Persistent link: https://www.econbiz.de/10011460731