This paper analyzes vertical cross-shareholding, that is, the mutual holding of a minority of shares between vertically related firms. First, we explore the issue in a game-theoretic model and show that cross-shareholding is sufficient to obtain efficient outcomes. We then test the model's...

We study interaction effects between intra-firm conflicts and interfirm competition on a duopolistic market with seller firms employing one or more agents and implementing tournament incentives. We show that inter-firm competition leads to higher incentive intensity, higher efforts and output...

We study price competition in heterogeneous markets where price decisions are delegated to agents. Principals implement a revenue sharing scheme to which agents react by commonly charging a sales price. The results of our model exemplify the importance of both intrafirm- and interfirm...

We study interfirm competition on a product market where effort decisions are delegated to the firms' workers. Intrafirm organization is captured by a principal-multiagent framework where firm owners implement alternative compensation schemes for the workers. We show that the value of delegation...

The initial estimates of August by industrial enterprises received by means of business surveys carried out by the Gaidar Institute1 showed improvement of the situation in industry. Actual changes in demand retained the previous dynamics; as a result, the achieved volumes of sales were rated...

According to business surveys of the Gaidar Institute1 carried out in May, the situation in the Russian industry changed for the better. Forecasts of changes in demand, output and employment demonstrate positive dynamics. The stocks of finished products are successfully controlled by...

Апрельские данные конъюнктурных опросов Института Гайдара показывают явное ухудшение ситуации в российской промышленности. Сокращение спроса увеличивает...

Согласно данным конъюнктурных опросов Института Гайдара1 октябрь не внес никаких принципиальных изменений ни в динамику спроса, ни в динамику выпуска...

Первые данные конъюнктурных опросов Института Гайдара1 о положении дел в российской промышленности показали, что в январе ситуация не ухудшилась и скромные...

В ноябре, по данным конъюнктурных опросов Института Гайдара1, промышленности не удалось со-хранить положительный импульс предыдущих месяцев. Негативная...