Showing 1 - 10 of 3,657
Using a tax-induced negative shock to expected cash flows in the tobacco industry as a natural experiment, I find significant positive returns to rivals who compete with non-tobacco segments in tobacco firms and a significant change in output behavior of those non-tobacco segments after the...
Persistent link: https://www.econbiz.de/10013131322
This work studies the effects of competition on corporate cash holdings. I develop an industry equilibrium model in which credit constrained firms use liquidity reserves as a buffer against future cash shortfalls. Competition triggers two contrasting effects. First, it increases the option value...
Persistent link: https://www.econbiz.de/10013127149
Persistent link: https://www.econbiz.de/10010353721
Persistent link: https://www.econbiz.de/10010247417
Persistent link: https://www.econbiz.de/10012021570
Persistent link: https://www.econbiz.de/10012180214
This paper studies monetary and exchange rate policy in a world of global value chains. Using recent microdata from Japan and Russia, devaluations are shown to negatively affect exporters in terms of employment, domestic revenue and profitability relative to nonexporting firms. Given their...
Persistent link: https://www.econbiz.de/10012900331
Competitiveness at the firm level is a subject of interest not only to managers and policy makers but also academics … relationship between the absorption of EU funds and Polish enterprises competitiveness on the basis of the content analysis … Infrastructure and Development. It is assumed simultaneously that the competitiveness of enterprises is expressed in the term of …
Persistent link: https://www.econbiz.de/10012002375
This paper investigates the relationship between technical progress, competition, and the impact on consumer's surplus and welfare. A Hotelling model in symmetrical duopoly with full market coverage is introduced. Firms invest in order to improve the quality of their offer and thus consumers'...
Persistent link: https://www.econbiz.de/10014191139
This paper investigates the impact of technical progress on the relationship between competition an investment. Using a model of oligopoly competition with di¤erentiated products where firms invest to reduce their marginal cost of production, I find that technical progress, which increases the...
Persistent link: https://www.econbiz.de/10011957665