Objective: Even in highly regulated and advanced health care markets, treatment costs and outcome quality substantially vary across facilities. Interhospital variation - particularly when it is not attributable to different patient compositions - might indicate inefficiencies in the health care...

Entdecken Sie in diesem Tagungsband einen tiefen Einblick in die dynamischen Entwicklungen und Herausforderungen der globalen Finanzmärkte, präsentiert im Rahmen der 18. EIZ-Tagung "Kapitalmarkt - Recht und Transaktionen". Die geldpolitische Schwemme, ausgelöst durch die Pandemie, hat den...

We argue that risk sharing motivates the bank-wide structure of bonus pay. In the presence of financial frictions that make external financing costly, the optimal contract between shareholders and employees involves some degree of risk sharing whereby bonus pay partially absorbs earnings shocks....