Recent development in international trade theory gives growing emphasis to the quality of the exported products, showing that it affects both the direction of trade and the countries’ export performances. However, as quality is unobservable, a measurement problem clearly emerges. In this paper...

Hong Kong leads the rank tables as an international financial centre. However, the data indicate that some parts of her corporate governance arrangements probably detract from - rather than contribute to - that leading position. In this brief, we show how excessive shareholding concentration,...

Objectives-based legislation - or laws which focus on achieving particular and concrete outcomes - has become a new and important tool that financial sector regulators use to tackle large and varied financial system risks. Yet, objectives-based legislation - and the frequent principles-based...

This paper conducts the first general equilibrium analysis of the role of entry, exit and profits in industry dynamics. The benefit of our model is twofold. First, to discriminate between entrants’ role of performing the entrepreneurial function of creating disequilibrium and the conventional...

The delisting of brands is frequently used by retailers to strengthen their negotiating position with the manufacturers and suppliers of their product assortment. However, retailers and manufacturers have to consider the risk of potential reactions when customers are faced with a reduced or...

Institutional barriers to entry were removed to a considerable extent in 1996 in the Dutch retail sector. Three years before that the regulator decided to not take legal actions anymore against entrants violating institutional requirements. In the current analysis we investigate the effects of...