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We develop an RBC model of the stock market with heterogenous firms. Shares value rests on the rent extracted from proprietary technology. Closed form solutions are provided for the value of each firm and for their aggregate, and for each share's beta, under weak assumptions on the shock...
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domestic rivals (i.e., protectionism). In 2002, the Court of First Instance overturned three prohibitions by the European … 2004. With a sample of 474 merger proposals submitted to the EC during 1990–2007, we show that the EC's protectionism from …
Persistent link: https://www.econbiz.de/10013118344
domestic rivals (i.e., protectionism). In 2002, the Court of First Instance overturned three prohibitions by the European … 2004. With a sample of 474 merger proposals submitted to the EC during 1990–2007, we show that the EC's protectionism from …
Persistent link: https://www.econbiz.de/10013105181