Showing 51 - 60 of 49,598
This paper analyzes loan pricing when there is multiple banking and borrower distress. Using a unique data set on SME lending collected from major German banks, we can instrument for effective coordination between lenders, carrying out a panel estimation. The analysis allows to distinguish...
Persistent link: https://www.econbiz.de/10010303753
Standardization is a process through which potential rivals cooperate to have the best technological solution adopted as the next standard. They pool together financial, human and material resources. Intellectual property rights, especially patents, are a powerful tool for them to recover...
Persistent link: https://www.econbiz.de/10012047977
This article describes how the Court of Justice of the European Union, with its Huawei v ZTE ruling in July 2015, has attempted to prevent abuses from SEP-holders (hold-ups) and implementers (hold-outs) by balancing the interests of both sides. This decision establishes a contractual negotiation...
Persistent link: https://www.econbiz.de/10012047990
We relate the design of contract law to the process of development. In this paper, contract law de fines which private agreements are enforceable (i.e. are binding and enforced by courts) and which are not. Speci cally, we consider an economy where agents face a hold-up problem (moral hazard in...
Persistent link: https://www.econbiz.de/10010330019
This paper examines the efficiency of expectation damages as a breach remedy in a bilateral trade setting with renegotiation and relationship-specific investment by the buyer and the seller. As demonstrated by Edlin and Reichelstein (1996), no contract that specifies only a fixed quantity and a...
Persistent link: https://www.econbiz.de/10010334024
Where product innovation requires several complementary patents, fragmented property rights can be a factor that limits firms' willingness to invest in the development and commercialization of new products. This paper studies multiple simultaneous R&D contests for complementary patents and how...
Persistent link: https://www.econbiz.de/10010334045
In the hold-up problem incomplete contracts cause the proceeds of relation-specific investments to be allocated by ex-post bargaining. The present paper investigates the efficiency of incomplete contracts if individuals have heterogeneous preferences implying heterogeneous bargaining behavior...
Persistent link: https://www.econbiz.de/10010334160
In late 2005, the German energy companies E.ON and Wintershall and Russian Gazprom reached an agreement to build a new huge pipeline Nord Stream through the Baltic Sea. This pipeline will provide Russia for the first time ever with the direct access to its Western European customers. This...
Persistent link: https://www.econbiz.de/10011601265
Ende 2005 vereinbarten die deutschen Energieunternehmen E.ON und Wintershall gemeinsam mit der russischen Gazprom eine neue Pipeline "Nord-Stream" zu bauen, mit der russisches Erdgas erstmalig direkt durch die Ostsee nach Deutschland geliefert werden kann. Diese Pipeline erhöht die Sicherheit...
Persistent link: https://www.econbiz.de/10011601955
Persistent link: https://www.econbiz.de/10011601956