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The Demise of Investment Banking Partnerships: Theory and Evidence

Morrison, Alan; Wilhelm Jr, William J - C.E.P.R. Discussion Papers - 2005

innovations which serve to replace or to undermine the role of the human capitalist and hence we provide a technological theory of … the partnership’s going-public decision. We support our theory with a new dataset of investment bank partnership …

Persistent link: https://www.econbiz.de/10005656352

Partnership Firms, Reputation and Human Capital

Morrison, Alan; William J. Wilhelm, Jr. - Finance Research Centre, Oxford University - 2003

In human capital intensive industries where it is difficult to contract upon the training effort of skilled agents a socially suboptimal level of training may occur. We show how partnership organisations can overcome this problem by tying human and financial capital. Partnerships are opaque so...

Persistent link: https://www.econbiz.de/10005212079

Partnership Firms, Reputation and Human Capital

Morrison, Alan; Wilhelm, William - Department of Economics, Oxford University - 2003

Persistent link: https://www.econbiz.de/10010661387

The Demise of Investment-Banking Partnerships: Theory and Evidence

Morrison, Alan; Wilhelm, William J. - Department of Economics, Oxford University - 2004

hence we provide a technological theory of the partnership`s going-public decision. We support our theory with a new dataset …

Persistent link: https://www.econbiz.de/10010661417

Neue Beteiligungs- und Steuerungsprozesse in der ländlichen Entwicklung: Phase I der Begleitforschung zum Modellvorhaben

Küpper, Patrick; Kundolf, Stefan; Margarian, Anne - Bundesforschungsinstitut für Lädliche Räume, Wald … - 2014

In diesem Bericht werden die Zwischenergebnisse der Begleitforschung 2012 bis 2013 zum Modellvorhaben LandZukunft des Bundesministeriums für Ernährung und Landwirtschaft (BMEL) vorgestellt. Das Modellvorhaben läuft von 2012 bis Ende 2014 in vier aus ursprünglich 17 Landkreisen ausgewählten...

Persistent link: https://www.econbiz.de/10010985576

Confidence and the Erosion of Confidence : Economic Functions and Effects

Sell, Friedrich L. - Fakultät für Wirtschafts- und … - 2004

"Trust" or likewise "confidence" (the term preferred in this paper) are notions which have received considerable attention by economists in the last 8-10 years. In this contribution, much emphasis is put on the understanding what we really mean by "confidence", what the differences between...

Persistent link: https://www.econbiz.de/10008462110

Strategic Incomplete Contracts: Theory and Experiments

Erkal, Nisvan; Wu, Steven Y.; Roe, Brian E. - Institute for the Study of Labor (IZA) - 2014

We develop a model of strategic contractual incompleteness that identifies conditions under which principals might omit even costlessly verifiable terms. We then use experiments to test comparative statics predictions of the model. While it is well known that verifiability imperfections can...

Persistent link: https://www.econbiz.de/10011105069

Efficient contracting and fair play in a simple principal-agent experiment

Anderhub, Vital; Gächter, Simon; Königstein, Manfred - Sonderforschungsbereich 373, Quantifikation und … - 1999

Modern 'principal-agent theory' has made a lot of progress in proposing theoretical Solutions to agency problems. This … evidence on offered contracts and effort choices in a simple agency game. In line with principal-agent theory we find that in … design has to regard an equity constraint that has so far been neglected by contract theory. In fact, most contract offers …

Persistent link: https://www.econbiz.de/10010983718

Golden Cages for Showy Birds: Optimal Switching Costs in Labour Markets

Burguet, Roberto; Caminal, Ramon; Matutes, Carmen - C.E.P.R. Discussion Papers - 1999

Why do some workers sign contracts with high quitting penalties? Are these restrictions on the workers' mobility perverse for efficiency or workers' welfare? We postulate an answer that hinges on the degree of observability of the worker's performance by alternative employers. When performance...

Persistent link: https://www.econbiz.de/10005661692

When are layoffs acceptable? Evidence from a quasi-experiment

Charness, Gary; Levine, David I. - Department of Economics and Business, Universitat … - 1999

Many authors have discussed a decline in internal labor markets and an apparent shift to a new employment contract, characterized by less commitment between employer and employee and more portable skills. These discussions occur without much evidence on what employment contract employees...

Persistent link: https://www.econbiz.de/10005772225