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Conflict or Collusion? : How Employees in the Boardroom Affect Executive Compensation

Lin, Chen - 2019

This paper examines how direct involvement of employees in corporate governance affects executive compensation. German law mandates that half of the supervisory board seats belong to employee representatives in firms with over 2,000 domestic employees. For identification, we exploit this...

Persistent link: https://www.econbiz.de/10012895287

Debt, Control, and Collusion

Sokol, D. Daniel - 2021

Partial ownership of stock in multiple competing firms is an important scholarly and policy topic in both corporate and antitrust law. Until now, the discussion has focused on ownership. This essay shifts the debate from a focus on common ownership to a focus on common control. No prior work has...

Persistent link: https://www.econbiz.de/10013236520

Tacit Collusion among Dominant Banks : Evidence from Round-Yard Loan Pricing

Chan, Yu-Ju; Lin, Chih-Yung; Lin, Tse-Chun - 2022

While there is no apparent reason for loan spreads to cluster at certain numbers, we find that around 70% of bank loans have round-yard spreads (i.e., multiples of 25 basis points). We hypothesize that dominant banks implicitly collude by using the round-yards as focal pricing points when...

Persistent link: https://www.econbiz.de/10014244769

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

Capital structure, prices and tacit collusion

Hobson, Jane - 1991

Persistent link: https://www.econbiz.de/10000823577

Capital structure under collusion

Ferrés, Daniel; Ormazabal, Gaizka; Povel, Paul; … - In: Journal of financial intermediation 45 (2021), pp. 1-13

Persistent link: https://www.econbiz.de/10012656588

Anticompetitive Leverage : Revisiting the Strategic Use of Debt

Siciliani, Paolo - 2018

Capital structure and financial policies can raise anticompetitive concerns to the extent that they induce rival firms to compete less aggressively. In contrast to common ownership, anticompetitive concerns triggered by financial leverage being ratcheted up in parallel across rival firms can be...

Persistent link: https://www.econbiz.de/10012909940

Using accounting data in cartel damage calculations : blessing or menace?

Paha, Johannes - 2009

can consistently be estimated from accounting data. An estimation of cartel-damages is performed for four vitamins …-frequency of accounting data pose a challenge to the estimation of cartel damages. A further challenge is to appropriately reflect …Standard methods for calculating cartel-damages rely on data of prices charged and quantity sold. Such data may not …

Persistent link: https://www.econbiz.de/10003852266

Deterrence, Recidivism and European Cartel Fines

Veljanovski, Cento - 2018

Based on an analysis of cartel prosecutions since 2007, this article assesses the way the European Commission has built …

Persistent link: https://www.econbiz.de/10012940532

Estimating Cartel Damages with Model Averaging Approaches

Tsay, Wen-Jen - 2021

when evaluating the cartel damages. We combine the Mallows model averaging (MMA) method with both the dummy variable (DV …) and forecasting approaches to investigate the famous citric acid cartel case during the 1990s. The path of but-for prices … cartel damage estimations …

Persistent link: https://www.econbiz.de/10013243491