This paper examines the restructuring of state assets in markets deregulated by privatizations and investment liberalizations. We show that the government has a stronger incentive to restructure than the buyer: A firm restructuring only takes into account how much its own profit will increase....

In this paper we construct a model in which entrepreneurial innovations are sold into oligopolistic industries and where adverse selection problems between entrepreneurs, venture capitalists and incumbents are present. We show that as exacerbated development by better-informed venture-backed rms...

This paper proposes a cross-border M&A model with financially constrained owners in which the identity of the buyer and seller can be determined. We show that policies blocking foreign acquisitions to protect the domestic industry can be counterproductive. Foreign acquisition can increase the...

Entrepreneurs face higher commercialization costs than incumbents. We show that this implies that entrepreneurs will choose more risky projects than incumbents, aiming to reduce their high expected marginal commercialization cost. However, entrepreneurs may select too safe projects from a social...

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...

An increasingly large share of cross-border acquisitions are undertaken by private equity-firms (PE-firms) and not by traditional multinational enterprises (MNEs). We propose a model of cross-border acquisitions in which MNEs and PE-firms compete over domestic assets and which incorporates...

Swedish Abstract: Föreliggande rapport är en samhällsekonomisk kostnads- och intäktsanalys för vart och ett av fem fiskefria områden som inrättats i Sverige nämligen, Gålö söder om Stockholm, Storjungfrun-Kalvhararna utanför Söderhamn, Havstensfjorden, Vinga samt södra Kattegatt....

Swedish Abstract: Huvudsyftet med föreliggande rapport är att på ett övergripande och konceptuellt plan beskriva innebörden av en samhällsekonomisk nytto- och kostnadsanalys, eller samhällsekonomisk bedömning, och hur en sådan kan och bör genomföras för att analysera samhällsnyttan...