We study the effects of financial sanctions on cross-border credit supply. Using a differences-in-differences approach to analyze eleven sanctions episodes between 2002 and 2015, we find that banks located in Germany reduce their positions in countries with sanctioned entities by 38%. The...

Given the actual debate, in many European countries, about the need for public administrations to raise their revenues through taxing the crime externalities generated by some private leisure activities, this article analyzes the effect of football matches on crime focusing both on property...

According to economic theory, the price of parking must vary with the demand for this good. We study the economic consequences of not doing so by estimating the employees' parking demand at one organisation, which, rather uniquely, follows this recommendation. We estimate the effect of the...

The role of intermediaries in innovation processes has been analyzed in the literature from a dual point of view of the firm's performances. Being considered actors involved in the knowledge diffusion and technology transfer, intermediaries are considered collaborators of small and large...

The present paper aims to present the picture of the Third Sector in Romania, today and the way it relates to Law 219/2015 on the Social Economy. It was analyzed the current legislative text and the specific laws on establishing and functioning of the key organizations concerned. It has been...

Trade unions distort a profit-maximising firm's input choice. The nature of the resulting inefficiency depends on whether there is wage or efficient bargaining. Moreover, trade unions redistribute income and thereby affect welfare. If firms also pursue Corporate Social Responsibility (CSR)...

We present online-experimental evidence that challenges the generalizability of established results on subsidizing giving by considering a "quantity donation" scheme. We define this scheme as one in which donors choose how many units of a charitable good to fund, rather than the amount of money...

In this paper we analyze the risks the European Telecom market is experiencing. Many economic disincentives to investing in infrastructure are related to the fact that market value of the companies can be lower than expected. Next Generation Networks (NGN) deployment require great amounts of...

Financial contracts are complicated and consumers often do not grasp them in their entirety. This may lead to financial mistakes. We develop a quantitative theory of unsecured credit and equilibrium default in a market with sophisticated and naïve borrowers who sometimes misunderstand their...

This paper focuses on how corruption affects an important internationalization behavior of firms: the extent of control - wholly owned subsidiary or equity participation - exercised by firms involved in cross-border mergers and acquisitions (M&A). Recently, scholars have recommended studying the...