The present analysis sheds light on the setting up a regional rating agency in Asia in the wake of recent financial crisis. We investigate the policy facing a financial regulator while evaluating whether or not to admit new entrants into the credit rating market. In an incomplete contracting...

The present analysis sheds light on the setting up a regional rating agency in Asia in the wake of recent financial crisis. We investigate the policy facing a financial regulator while evaluating whether or not to admit new entrant into the credit rating market. In an incomplete contracting...

The economic science has - lamented by some, applauded by others - turned into a monistic discipline. In this short research note, a socio-economic answer to the question of why this happened is provided by combining an economic approach to the market for economic ideas with a sociological...

The economic science has - lamented by some, applauded by others - turned into a monistic discipline. In this short research note, a socio-economic answer to the question of why this happened is provided by combining an economic approach to the market for economic ideas with a sociological...

We empirically study how collusion in product markets affects firms' financial disclosure strategies. We find that after a rise in cartel enforcement, U.S. firms start sharing more detailed information in their financial disclosure about their customers, contracts, and products. This new...

We empirically study how collusion in product markets affects firms' financial disclosure strategies. We find that after a rise in cartel enforcement, U.S. firms start sharing more detailed information in their financial disclosure about their customers, contracts, and products. This new...

Traditionally, there have been two separate telecommunications networks, one based on switches, the other based on routers. The switched network basically carried voice. The packet switched network basically carried data. Now voice is about to go packet switched too. Ultimately, both networks...

We model a situation where a seller trades a base good, and a bundle of higher quality comprising of the base good with an add-on, through an intermediary which charges a flat commission fee each time it makes a sale. In addition, the add-on can also be bought elsewhere, i.e. from a different...

This paper, a chapter in the forthcoming Research Handbook on the Economics of Corporate law, describes the leading research related to credit ratings, and assesses regulatory proposals related to ratings, including those in the Dodd-Frank Act of 2010. It explains how rating agencies have...

In this paper, I evaluate the impact of regulatory interventions on the quality of auditing services. Because of the recent financial crisis the European Commission has come up with proposals to introduce a Single Market for Statutory Audits. Hereby, the European Commission wants to open the...