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We investigate the causal relationship between the efficiency of country’s judicial system and the quality of bank lending, using the contracts enforcement reforms that have been implemented in four European countries as a quasi-natural experiment. We find that strengthening of contract...
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present a theoretical model of copyright piracy in which a rightholder competes in price with an Internet intermediary in a … differences impact price competition. Our analysis suggests that law uncertainty plays a role in an intermediary’s decision to …
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purchase price in order to induce the seller to provide higher quality. The set of purchase prices that support trade split … higher purchase price, while the seller prefers lower purchase price.For the case of more than one buyer, we examine and … the externalities that arise in this supply chain and identify how the market share, enforcement costs and purchase price …
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Transnational private regulation (TPR) is a growing phenomenon. It creates new markets and dissolves old ones. TPR contributes to the regulation of existing markets, it increases the protection of fundamental rights and it enables or disables communities to participate in global rule making. The...
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Regulatory economics suggests that one benefit of public enforcement is the deterrence of improper conduct. Using a difference-in-differences design, we investigate whether a deterrence effect follows the revelation of PCAOB enforcement. We find that large audit firm offices improve audit...
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