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clearing houses, accompanied by a trend towards consolidation in the clearing infrastructure. The financial stability … towards substantial risk-reduction benefits from multilateral clearing arrangements, arising from multilateral netting and … mutualisation. The paper also examines individual incentives to join multilateral clearing arrangements. We suggest that …
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Many executives have compensation that is potentially forfeit conditioned on the circumstances surrounding their departure from the firm. We study firms' endogenous decisions to use such compensation "holdbacks" as a bonding device and find that firms with higher executive replacement costs,...
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Performance-based contracting is gaining widespread acceptance in supply chains where moral hazard might prevent either or both supply chain entities from exerting the first-best effort that improves supply chain outcomes. We analyze the use of delayed payments as a performance-based contract...
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Background: This study aims to examine the impact of different healthcare payment systems, specifically salary and fee-for-service (FFS) models, on service provision, patient welfare, and quality of care. The influence of payment models on healthcare delivery and patient outcomes, as well as how...
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