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In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since … can explain to a large extent why empirical estimates of the investment-uncertainty relationship differ. …
Persistent link: https://www.econbiz.de/10011349194
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since … can explain to a large extent why empirical estimates of the investment-uncertainty relationship differ …
Persistent link: https://www.econbiz.de/10014057062
The question of whether and how partial common-ownership links between strategically interacting firms affect firm objectives and behavior has been the subject of theoretical inquiry for decades. Since then, the growth of intermediated asset management and consolidation in the asset-management...
Persistent link: https://www.econbiz.de/10012932628
The combination of leniency programmes, high sanctions, complaints from customers and private actions for damages, has proven very successful at uncovering and punishing cartel agreements in the US. Countless jurisdictions are being encouraged to adopt these 'conventional' enforcement tools, in...
Persistent link: https://www.econbiz.de/10014214192
This paper investigates the "misallocation" implications of corporate internal financing. We introduce corporate risk management into a standard continuous-time heterogeneous agent model with incomplete markets. We show that the economy's ability to allocate resources through the price mechanism...
Persistent link: https://www.econbiz.de/10014354551
Using qualitative and quantitative methods, the paper draws on the categorization and stigmatization literatures to predict the amount of negative social evaluations received by firms, i.e. disapproval. Association with a stigmatized category does not automatically result in disapproval, because...
Persistent link: https://www.econbiz.de/10014174697
This paper presents a broad retrospective evaluation of mergers and merger decisions in the digital sector. We first … theories of harm in major merger cases in the past few years. We then analyse the characteristics of almost 300 acquisitions … important merger cases, Facebook/Instagram and Google/Waze, providing a systematic assessment of the theories of harm considered …
Persistent link: https://www.econbiz.de/10012138666
, which may not be possible since entry decisions are secret. By removing or mitigating this coordination failure, a merger … among laggards may lead to more entry (or innovation). Such a merger will also be more likely to benefit consumers when the … merger. Importantly, we find that in the presence of fixed entry costs and endogenous entry, fixed cost synergies are …
Persistent link: https://www.econbiz.de/10014349375
, particularly concerning its features and governance modes. The paper shows that neither an uniform world merger control nor a … systematically addresses economic arguments for centralization and decentralization of merger control competences within a multilevel … Competition Network, merger control, New Institutional Economics, international competition policy, diversity, antitrust …
Persistent link: https://www.econbiz.de/10014085355
primary driver behind holdup source: a contention supported by empirical tests based on the merger policies of 27 antitrust …
Persistent link: https://www.econbiz.de/10014029167