This paper analyzes the impact of competition among downstream firms on an upstream firm's payoff and on its incentives to vertically integrate when firms on both segments negotiate optimal contracts. The author argues that tougher competiton decreases the downstream industry profit, but...

If firms demand heterogeneous working qualifications, each has to decide whether to choose its preferred qualification and be incompatible to other firms' qualifications or to standardize and choose the same qualification as other firms. The model analyses whether advanced training, which...

This paper presents empirical evidence on why firm become corporate criminals. We investigate the relationship between corporate ownership structure and the prior probability of observing corporate crime.

The intuition tat poorly performing corporations are more likely to engage in crime is found through-out the contemporary literature on the economics of corporate misconduct. Yet little evidence of such a relationship exists. This paper presents new evidence on the relationship between prior...