Despite a lot of re-structuring and many innovations in recent years, the securities transaction industry in the European Union is still a highly inefficient and inconsistently configured system for cross-border transactions. This paper analyzes the functions performed, the institutions involved...

This paper provides a framework for the securities transaction industry in the EU to understand the functions performed, the institutions involved and the parameters concerned that shape market and ownership structure. Of particular interest are microeconomic incentives of the industry players...

This paper provides a framework for the securities transaction industry inthe EU to understand the functions performed, the institutions involved andthe parameters concerned that shape market and ownership structure. Ofparticular interest are microeconomic incentives of the industry players...

Abstract: We discuss deregulation (liberalization) and some of the international institutions that influence the management of people in airlines. As a point of departure, we summarize contrasting models from successful lsquo;new entrant' airlines: Ryanair and Southwest. We consider examples of...

Different institutional designs often have evolved over time for the performance of the same economic or social activity. In the provision of financial services such different institutional arrangements can be found as well. This paper examines the strategy, organization and corporate governance...

In view of the decline in gain sharing by corporations with American workers over the last forty years, advocates for American workers have expressed growing interest in allowing workers to elect representatives to corporate boards. Board level representation rights have gained appeal because...

Minority shareholdings have been on the regulatory agenda of competition authorities for some time. Recent empirical studies, however, draw attention to a new, thought provoking theory of harm: common ownership by institutional investors holding small, parallel equity positions in several...

In recent years, links between spatial proximity, and firms' formal and informal contacts have become a sufficient subject for research in the field of innovation, competitiveness and sustainable economic growth. We introduce a model for the quantitative evaluation of the relationship between...

Starting with the framework of New Institutional Economics, this Comment examines the institutional arrangements of Chinese and U.S. governance, and then scrutinizes their respective policy responses to the financial collapse of 2008. The latent thesis is that, notwithstanding differences in...