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A Statistical Equilibrium Model of Competitive Firms
Irle, Albrecht; Milaković, Mishael; Alfarano, Simone; … - 2008
We argue that the complex interactions of competitive heterogeneous firms lead to a statistical equilibrium distribution of firms? profit rates, which turns out to be an exponential power (or Subbotin) distribution. Moreover, we construct a diffusion process that has the Subbotin distribution as...
Persistent link: https://www.econbiz.de/10010296303
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A New Metric for Banking Integration in Europe
Gropp, Reint E.; Kashyap, Anil K. - 2008
Most observers have concluded that while money markets and government bond markets are rapidly integrating following the introduction of the common currency in the euro area, there is little evidence that a similar integration process is taking place for retail banking. Data on cross-border...
Persistent link: https://www.econbiz.de/10010298683
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Worker self-selection and the profits from cooperation
Kosfeld, Michael; von Siemens, Ferdinand - 2008
We investigate a competitive labor market with team production. Workers differ in their motivation to exert team effort and types are private information. We show that there can exist a separating equilibrium in which workers self-select into different firms and firms employing cooperative...
Persistent link: https://www.econbiz.de/10010276699
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Energiekonzerne: Steigende Umsätze, steigende Gewinne, steigende Preise. Fehlt der Wettbewerb?
Rhiel, Alois; Heitzer, Bernhard; Bonekamp, Berthold A.; … - In: ifo Schnelldienst 61 (2008) 01, pp. 3-15
Energy Aktiengesellschaft, Dortmund, sieht den Wettbewerb auf dem Strommarkt, der seit 1998 vollständig liberalisiert ist, in … Wettbewerb in der Stromerzeugungsbranche zu verwirklichen. So sei es den Großkonzernen gelungen, Marktneulinge und kleinere … Heitzer, wird der Wettbewerb im Strom- und Gassektor als nicht »zufriedenstellend« bezeichnet. Er verweist auf die Maßnahmen …
Persistent link: https://www.econbiz.de/10011692714
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Unternehmen handeln im öffentlichen Interesse
Pies, Ingo - 2017
In diesem Interview wird erläutert, (a) dass Unternehmen dem Gemeinwohl dienen, indem sie innovative und produktive Wertschöpfung betreiben, (b) dass Gewinne ein Signal und eine Belohnung für gelungene Wertschöpfung sind, weil sie zum Ausdruck bringen, dass die freiwillige...
Persistent link: https://www.econbiz.de/10011815541
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Bank income and profits over the business and interest rate cycle
Burgstaller, Johann - 2006
If and how the conduct of the banking sector contributes to the propagation of aggregate shocks has become a prominent empirical research question. This study explores what a cyclicality analysis of net interest margins and spreads, as well as profitability figures, can contribute to the...
Persistent link: https://www.econbiz.de/10010294520
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Measurement matters: Input price proxies and bank efficiency in Germany
Koetter, Michael - 2005
Most bank efficiency studies that use stochastic frontier analysis (SFA) employ each bank's own implicit input price when estimating efficient frontiers. But the theoretical foundation of most studies is a cost minimisation and/ or profit maximisation problem assuming perfect input markets. At...
Persistent link: https://www.econbiz.de/10010295894
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Diversification and the banks' risk-return-characteristics: evidence from loan portfolios of German banks
Behr, Andreas; Kamp, Andreas; Memmel, Christoph; … - 2007
Banks face a tradeoff between diversifying and focusing their loan portfolio. In this paper we carry out an empirical study for the German market to shed light on the question whether or not the benefits of risk sharing outweigh those of specialization. We use data from the Bundesbank's...
Persistent link: https://www.econbiz.de/10010295924
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Why Parallel Trade May Raise Producers' Profits
Raff, Horst; Schmitt, Nicolas - 2005
This paper shows that a manufacturer may benefit from parallel trade. In addition to an intuitive condition about the effect of demand shocks, this occurs when competitive retailers must order inventories before they know the realization of demand and for products whose sale value drops at the...
Persistent link: https://www.econbiz.de/10010296243
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Institutional Investors and the Information Content of Earnings Announcements: The Case of Poland
Tavakkol, Amir; Korczak, Piotr - 2005
This paper investigates the relationship between market reaction to earnings surprises and institutional concentration in the firm's shareholders base. We use data from the Polish stock market where pension funds form a homogenous and highly competitive investor class with an increasing share in...
Persistent link: https://www.econbiz.de/10010296347