Showing 114,111 - 114,120 of 114,144
We rationalize exclusive portfolio dealing in a novel three-period partial equilibrium framework populated by a representative, risk-neutral seller and a small number of ex ante identical broker-dealers. Endowed with independent, uncertain demand for a representative asset, the broker-dealers...
Persistent link: https://www.econbiz.de/10014547822
leverage and product-market competition as predictors of financial distress hazard; and lack of attention to frailty as a … a managerial effort problem, mitigated by leverage and product-market competition as substitute disciplining devices … effect of leverage on financial distress hazard is inverted-U-shaped; (ii) the effect of the competition is U-shaped; and …
Persistent link: https://www.econbiz.de/10014547844
Persistent link: https://www.econbiz.de/10014549001
prices (D-PPI) in Türkiye. We start by reporting the fact that industries with intense competition had lower producer price … inflation compared to industries with low-competition in the past few years. Further investigation shows that this … differentiation across industries corresponds to the years with higher exchange rate volatility. The industries characterized with low-competition …
Persistent link: https://www.econbiz.de/10014281528
The article focuses on the effects that type I errors can have on the incentives of firms to compete, collude or engage in efficiency promoting socially beneficial cooperation. Our results confirm that in the presence of type I errors the introduction of a leniency program can have ambiguous...
Persistent link: https://www.econbiz.de/10010465886
Persistent link: https://www.econbiz.de/10014549167
In this paper, the Nash equilibrium reversion is used as an optimal tool for clearing dynamic prices and wages. The balanced growth path of the efficiency wage and the outcome of repeated household/firm wage bargaining decisions are determined by various exogenous competitive rigidities. A...
Persistent link: https://www.econbiz.de/10014556400
Persistent link: https://www.econbiz.de/10012267936
Persistent link: https://www.econbiz.de/10014492345
Persistent link: https://www.econbiz.de/10014577021