In this research, we employ artificial neural networks in conjunction with selected economic and financial variables to forecast recessions in Canada, France, Germany, Italy, Japan, UK, and USA. We model the relationship between selected economic and financial (indicator) variables and...

This paper investigates the bargaining between owners and managers over their managerial delegation contracts, in order to explain the disclosure obligation that is central to many modern corporate governance codes. We consider the managerial incentive contracts based on the profit and sales of...

We again examine how the managers' bargaining power affects social welfare and the firms'' profits in both quantity and price competition, in particular, in the case where each firm''s production technology is represented by a quadratic cost function. We show that under both the competition...

This paper examines the endogenous choice between democracy and conflict in a scenario with different social classes in terms of income inequality and with parties representing each of the two social classes. We consider how the change in economic inequality between the poor and rich people...

We introduce managerial delegation into Pal's (1998) model and examine the impact of the introduction of managerial delegation on endogenous timing in a mixed duopolistic model for differentiated goods. We show that a public firm and a private firm choose quantities sequentially in the...

We analyze productivity-improving mergers in mixed triopoly and explore stable market structures. We find the only stable market structure contains a merged public-private firm and one private firm with about 57% of shares owned by the public firm.