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Under what conditions do citizens demand punishment of corrupt government officials or actions? Citizens' demands … participants or groups, and regardless of whether they suffer losses from corruption, or whether other participants suffer losses … from corruption. This paper makes three contributions: First, the results delineate a theoretical model that predicts …
Persistent link: https://www.econbiz.de/10013080055
determining prices on local debt, above and beyond the underlying features of municipal bonds. We empirically show that corruption … governments become ineffective in the states with relatively higher levels of public sector corruption …
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We study bank supervision by combining a theoretical model that distinguishes supervision from regulation and a novel dataset on work hours of Federal Reserve supervisors. We highlight the trade-offs between the benefits and costs of supervision and use the model to interpret the relationship...
Persistent link: https://www.econbiz.de/10011537999
We address one of the cardinal puzzles of European corporate law: the lack of derivate share-holder suits. We explain this phenomenon on the basis of percentage limits which require share-holders to hold a minimum amount of shares in order to bring a lawsuit. We show that, under this legal...
Persistent link: https://www.econbiz.de/10010270439
high level of external monitoring, such as those in regulated industries (monitoring effect). The compensation weight on …
Persistent link: https://www.econbiz.de/10009459069
high level of external monitoring, such as those in regulated industries (monitoring effect). The compensation weight on …
Persistent link: https://www.econbiz.de/10005754544
high level of external monitoring, such as those in regulated industries (monitoring effect). The compensation weight on …
Persistent link: https://www.econbiz.de/10008538709
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