This paper examines the impact of the Sarbanes-Oxley Act (SOX), a legal framework intended to increase transparency and accountability of listed companies, on the cost of going public in the US. We expect SOX to increase the direct cost of going public, but decrease the underpricing because of...

We analyze the role of intermediaries in electronic markets using detailed data of more than 14,000 originated loans on an electronic P2P (peer-to-peer) lending platform. In such an electronic credit market, lenders bid to supply a private loan. Screening of potential borrowers and the...

Verbraucherpolitik kann durch die Bereitstellung glaubwürdiger Informationen den Schutz der Verbraucher vor eigennützigem Verhalten der Unternehmen verbessern, durch den Abbau von Markteintrittsbarrieren die Funktionsfähigkeit des Wettbewerbs sichern und die Etablierung von Innovationen am...

In this paper, we establish the significance and effects of initial public offer (IPO) offer price ranges on subscription, initial trading, and post-IPO ownership structures. The primary market in India provides a unique setting for estimating the effect of various initial public offer (IPO)...

The development of the Tunisian transport infrastructure in the period following the establishment of the French Protectorate has been little studied. The history of the Tunisian railways and ports is profoundly influenced by developments in the financial situation of the Regency during the last...

This study examines the association between ownership structure and voluntary disclosure levels in the 2007 annual report of 94 samples of Bangladeshi listed companies. Ownership structure is provided by management ownership and institutional ownership. Using agency theory, it is argued that...

This paper investigates whether investment spending of firms is sensitive to the availability of internal funds. Imperfect capital markets create a hierarchy for the different sources of funds such that investment and financial decisions are not independent. The relation between corporate...

Strategies to increase sustainability are of growing relevance for supply chains and especially for the management of production processes. In this paper, we build on existing literature in closed-loop supply chain management and consider a two-period game-theoretic model in which product...

This paper develops a principal-agent model with adverse selection to analyse firms' decisions between an existing carbon-intensive technology and a new low-carbon technology requiring an externally funded initial investment. We find that a Pigouvian emission tax alone may result in credit...

We test the predictions of the sticky information model using a survey dataset by comparing shoppers’ accuracy in recalling the prices of regulated and comparable unregulated products. Because regulated product prices are capped, they are sold more than comparable unregulated products, while...