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not form a homogeneous group: constraints are different when controlled for export intensity, ownership, location, and …
Persistent link: https://www.econbiz.de/10011984739
reforms in India, the results of our empirical analysis provide evidence of strong ownership effects with board independence …
Persistent link: https://www.econbiz.de/10011996082
We study an industry in which an upstream monopolist supplies an essential input at a regulated price to several downstream firms. Legal unbundling means that a downstream firm owns the upstream firm but this upstream firm is legally independent and maximizes its own upstream profits. We allow...
Persistent link: https://www.econbiz.de/10010264909
suggests that consumers may benefit most from legal unbundling with strong regulation and parts of ownership given to a … imperfections in legal unbundling (keeping ownership fixed) generally increases total output. Increasing the incumbent's ownership …, higher ownership shares of the downstream incumbent may sometimes lead to lower degrees of imperfections. Our analysis …
Persistent link: https://www.econbiz.de/10010264910
-pronged) approach encompassing regulation, profitability, and nonperforming assets (NPAs) and their interactions as a measure of the … the premises of the proposed approach to bank performance. Furthermore, various ownership classes provided mixed results … findings regarding various shareholder groups (ownership classes) can be a catalyst to set the policy for ownership …
Persistent link: https://www.econbiz.de/10012611668
asymmetric information the banks face the risk of adverse selection. Credit Value-at-Risk (CVaR) regulation counters the problem … of low quality, i.e. high risk, loans and therefore reduces the risk of the bank loan portfolio. However, CVaR regulation … welfare. CVaR regulation also affects the operation of monetary policy. …
Persistent link: https://www.econbiz.de/10010325499
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10011584863
ownership patterns as a substitute for co-operation in regulation between countries. …). We show that standard theory in the economics of regulation must be reconsidered in a world with MNEs and novel results …
Persistent link: https://www.econbiz.de/10011608515
This paper analyses in a hidden characteristic set-up the design of the optimal price for a firm which is a monopolist at home but competes abroad against foreign firms. As long as diseconomies of scope are not too strong, the optimal price is identified. The price rule depends on the sign of...
Persistent link: https://www.econbiz.de/10011608801
In this paper we consider the problem of financing infrastructure when the regulator faces a budget constraint. The optimal budget-constrained mechanism satisfies four properties. The first property is bunching at the top, that is the more efficient firms produce the same quantity. The second...
Persistent link: https://www.econbiz.de/10010263051