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Real effects of investement banking relationships : evidence from the financial crisis

Oesch, David; Schuette, Dustin; Walter, Ingo - 2014 - This version: 5 February 2014

In this paper, we investigate the damage to real-sector investment spending and corporate financing activities … triggered by the failure of three major investment banks during the 2007-09 financial crisis. We find that firms characterized … by pre-crisis corporate investment banking relationships with troubled investment banks exhibit significantly lower post …

Persistent link: https://www.econbiz.de/10010410832

Benefits of Collaboration in Capacity Investment and Allocation

Cetinkaya, Eren - 2012

investment and production. Also, we find that though collaboration in capacity investment is bene cial, collaboration in … intense, demand is more variable and cost of investment is higher …

Persistent link: https://www.econbiz.de/10013098654

A Survey of the Hold-Up Problem in the Experimental Economics Literature

Yang, Yadi - 2018

theoretical predictions at the aggregate level. A positive correlation is found between the investment stage decisions and …

Persistent link: https://www.econbiz.de/10012915941

Real Effects of Investment Banking Relationships: Evidence from the Financial Crisis

Oesch, David; Schuette, Dustin; Walter, Ingo - School of Finance, Universität St. Gallen - 2014

Persistent link: https://www.econbiz.de/10011154572

Memory in Contracts: The Experience of the EBRD (1991-2003)

Artige, Lionel; Nicolini, Rosella - Departament d'Economia i Història Econòmica, … - 2008

The objective of this paper is to identify the role of memory in repeated contracts with moral hazard in financial intermediation. We use the database we have built containing the contracts signed by the European Bank for Reconstruction and Development EBRD between 1991 and 2003. Our framework...

Persistent link: https://www.econbiz.de/10005582702

Differentiators of Managerial Preferences for Outsourcing : Experimental Evidence of the Moderating Role of Value Appropriation

Lin, Nidthida - 2015

This study adds to our understanding of outsourcing decision-making by examining the differential effect of potential cost and non-cost innovation benefits on outsourcing choices made by top managers. In addition, we show that value appropriation - which we define in this context as a firm's...

Persistent link: https://www.econbiz.de/10013038978

Trade Credit in Competition : A Horizontal Benefit

Peura, Heikki - 2016

Trade credit is a widely adopted industry practice. Prior research has focused on how trade credit benefits firms by improving vertical supply chain relationships. This paper offers a novel perspective by examining whether trade credit benefits suppliers through a horizontal channel. Under the...

Persistent link: https://www.econbiz.de/10013005181

Project Characteristics, Incentives and Team Production

Fu, Richard - 2015

We develop a model to show how agency conflicts, free rider effects and monitoring costs interact to affect optimal team size and workers' incentive contracts. Team size increases with project risk, decreases with profitability, and decreases with monitoring costs as a proportion of output. Our...

Persistent link: https://www.econbiz.de/10013031788

War as an Investment

Chadefaux, Thomas - 2013

States often bargain over objects that affect their future bargaining power. A large territory, for example, is not only valuable in itself, but also as a source of raw material, population and defense. As a result, states not only try to maximize their benefits when they negotiate over the...

Persistent link: https://www.econbiz.de/10014162111

The role of the status-quo in dynamic bargaining

Flamini, Francesca - In: Games 14 (2023) 3, pp. 1-20

We analyze a dynamic bargaining game where parties can agree to implement a policy change, which is costly (beneficial) in the short-run but beneficial (costly) in the long-run. When the status-quo is endogenized (at least in some components), we show that the more farsighted party can induce...

Persistent link: https://www.econbiz.de/10014422522