We survey the extant literature on the effects of both a bank's organizational structure and the physical distance separating it from the lender on lending decisions. Banks do engage in spatial pricing, where the underlying mechanism can be both transportation costs and information asymmetries....

The established literature on partial vertical ownership has derived distinct pro- and anti-competitive effects, depending on whether the upstream or the downstream firm holds the shares (forward or backward). We show that forward ownership can have the same effects as backward ownership (and...

Der vorliegende Beitrag analysiert kurz die Struktur deutscher Genossenschaften aus dem Blickwinkel der Property-Rights-Theorie (vgl. Kramer 2002). Dabei zeigt sich, dass dieser im Bereich der Genossenschaftsforschung bis dato eher vernachlässigte Theorieansatz durchaus zur Verfolgung von...

We show that competing downstream firms may rather invest in their inefficient inhouse production than help improve the technology of the efficient supplier, even if this is costless. Even worse, a downstream firm can have strong incentives to decrease the efficiency of the supplier in order to...

This paper is an annual publication issued by the Microeconomic Analysis service of the National Bank of Belgium. The Flemish maritime ports - Antwerp, Ghent, Ostend, Zeebrugge - and the Autonomous Port of Liège play a major role in their respective regional economies and in the Belgian...

This paper is an annual publication prepared by the Microeconomic Analysis unit of the National Bank of Belgium. The Flemish maritime ports -Antwerp, Ghent, Ostend, Zeebrugge- and the Autonomous Port of Liège play a major role in their respective regional economies and in the Belgian economy,...

The Port Autonome de Liège, with its 26 kilometres of berths and several multimodal platforms, plays an important role in the Walloon and Belgian economy. This update paper gives an extensive overview of the economic importance and the latest developments of the Port Autonome de Liège, through...

The Flemish maritime ports play a major role in the Belgian economy, not only in terms of the industries they encompass but also as intermodal centres where transhipment activities are concentrated. This update1 paper provides an extensive overview of the economic importance and development of...