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Business groups in emerging markets: financial control and sequential investment

Hainz, Christa - 2006

market. Thus, the business group's organizational mode and the financial structure allow a self-enforcing contract to be …

Persistent link: https://www.econbiz.de/10010263949

Optimal Procurement Contracts with Pre-Project Planning

Krähmer, Daniel; Strausz, Roland - 2010

with moral hazard. The optimal contract displays systematic distortions in information acquisition. Due to a rent effect …

Persistent link: https://www.econbiz.de/10010334134

Supplementary Insurance with Ex-Post Moral Hazard: Efficiency and Redistribution

Barigozzi, Francesca - 2004

This paper investigates the topping-up scheme in health insurance when both public and private firms use linear contracts. First, the case with identical consumers is analyzed. The optimal public coverage is derived both when the firms play simultaneously and when they play sequentially. In the...

Persistent link: https://www.econbiz.de/10011651415

Efficiency effects of cross-border medical demand

Lukas, Daniel - 2009

There is a growing interest in cross-border medical care and its comparative advantages. In addition, medical care can be defined as a local assurance good. Little research is being carried out in this field. This paper discusses the individual considerations for medical treatment offered at...

Persistent link: https://www.econbiz.de/10010301355

The Future of Banking in CESEE after the Financial Crisis

Gnan, Ernest; Simor, Andras; Schepers, Manfred; Eller, … - 2011

On 23 June 2010, the Magyar Nemzeti Bank and SUERF jointly organised a conference on "The Future of Banking in CESEE after the Financial Crisis", incorporating the SUERF Annual Lecture, delivered by Manfred Schepers, Vice President, Finance at the European Bank for Reconstruction and...

Persistent link: https://www.econbiz.de/10011689947

The lemon market of insolvency proceedings in Spain in the new normal: Information, asymmetry, and adverse selection problems

Olabarrieta, Unai; San-Jose, Leire; Araujo, Andrés - In: Cogent Business & Management 10 (2023) 3, pp. 1-16

framework for corporate insolvency resolution are constantly changing to enhance the efficiency of such mechanisms. This pursuit … contrasts with the lack of specific efficiency data available to both legislators and researchers, there are no solid statistics … to investigate the phenomenon from the perspective of its efficiency, which makes it impossible in practice to …

Persistent link: https://www.econbiz.de/10014527409

The Pygmalion effect : an agency model with reference dependent preferences

Daido, Kohei; Itoh, Hideshi - 2005

We attempt to formulate and explain two types of self-fulfilling prophecy, called the Pygmalion effect (if a supervisor thinks her subordinates will succeed, they are more likely to succeed) and the Galatea effect (if a person thinks he will succeed, he is more likely to succeed). To this...

Persistent link: https://www.econbiz.de/10010261169

Optimal incentive contracts for a worker who envies his boss

Dur, Robert; Glazer, Amihai - 2004

A worker's utility may increase in his own income, but envy can make his utility decline with his employer's income. Such behavior may call for high-powered incentives, so that increased effort by the worker little increases the income of his employer. This paper uses a principalagent model to...

Persistent link: https://www.econbiz.de/10010261264

Sustainable social spending

Lindbeck, Assar - 2005

The paper discusses a number of threats to the financial sustainability of social spending: increased internationalization of national economies, gradually higher relative costs of producing a number of human services, the ?graying? of the population, slower productivity growth in the private...

Persistent link: https://www.econbiz.de/10010261370

A model of income insurance and social norms

Lindbeck, Assar; Persson, Mats - 2006

A large literature on ex ante moral hazard in income insurance emphasizes that the individual can affect the probability of an income loss by choice of lifestyle and hence, the degree of risk-taking. The much smaller literature on moral hazard ex post mainly analyzes how a ?moral hazard...

Persistent link: https://www.econbiz.de/10010261422

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