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Hybrid Capital Structures and the Governance of State-Owned Companies : The Case of SABESP

Mirandola, Carlos Mauricio - 2010

Persistent link: https://www.econbiz.de/10013141012

Swallow Poison to Innovate : R&D Investment Under Financial Constraints and Competition

Lin, Danmo - 2019

I build a dynamic model to examine how financial constraints and competition affect firms' research and development ("R&D") strategies. I show that first, financially constrained firms with risky cash flows can optimally over-invest relative to the first best; this is due to the project...

Persistent link: https://www.econbiz.de/10012900793

Are Public Firms Disappearing? Corporate Law and Market Power Analyses

Roe, Mark J.; Wang, Charles C. Y. - 2023

The number of public firms in the United States has halved since the beginning of the twenty-first century, causing consternation among corporate and securities law regulators. The dominant explanations, often advanced by Securities and Exchange commissioners when considering policy initiatives,...

Persistent link: https://www.econbiz.de/10014254336

Accelerability vs. Scalability : R&D Investment under Financial Constraints and Competition

Lin, Danmo - 2023

I develop a continuous-time model to examine how the interaction between competition and financial constraints affects firms' research and development (R&D) strategies. The model integrates two key characteristics of R&D investment: accelerability (i.e., higher R&D intensity leads to faster...

Persistent link: https://www.econbiz.de/10014350038

Empowerment and the dark side of delegation

Kräkel, Matthias - 2018

The existing delegation literature has focused on different preferences of principal and agent concerning project … selection, which makes delegating authority costly for the principal. This paper shows that delegation has a cost even when the … without task commitment and other behavioral effects the principal might forgo delegation though being efficient. …

Persistent link: https://www.econbiz.de/10011795221

Bilateral delegation in wage and employment bargaining in monopoly

Chatterjee, Ishita; Saha, Bibhas - In: Economics Letters 120 (2013) 2, pp. 280-283

We study efficiency and distributional implications of bilateral delegation in wage and employment bargaining in … monopoly. Delegation causes underproduction, and the bargaining pie severely contracts rendering mutual gains from delegation …

Persistent link: https://www.econbiz.de/10010678809

Bilateral Delegation, Wage Bargaining and Managerial Incentives: Implications for Efficiency and Distribution

Chatterjee, Ishita; Saha, Bibhas - School of Economics, University of East Anglia - 2011

We develop a model of bilateral delegation in wage and employment bargaining to study efficiency and distributional … implications in monopoly and in Cournot duopoly. In both markets delegation causes underproduction, but has contrasting … expands, sometimes even up to the collusive level suggesting that delegation is conducive to implicit collusion. Surprisingly …

Persistent link: https://www.econbiz.de/10009195406

Decisions of duopoly firms on sharing information on their delegation contracts

Baik, Kyung Hwan; Lee, Dongryul - In: Review of industrial organization 57 (2020) 1, pp. 145-165

Persistent link: https://www.econbiz.de/10012303502

Predictive analytics and centralization of authority

Labro, Eva; Lang, Mark H.; Omartian, James D. - In: Journal of accounting & economics 75 (2023) 1, pp. 1-19

Persistent link: https://www.econbiz.de/10014282264

Shareholder liability and bank failure

Aldunate, Felipe; Jenter, Dirk; Korteweg, Arthur; … - 2021

Does enhanced shareholder liability reduce bank failure? We compare the performance of around 4,200 state-regulated banks of similar size in neighboring U.S. states with different liability regimes during the Great Depression. The distress rate of limited liability banks was 29% higher than that...

Persistent link: https://www.econbiz.de/10012584232