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This paper analyzes the interaction between two political economy decisions by a government: whether to privatize a public firm and what environmental policy to choose (an environmental tax or an emission standard). We find that when market competition is weak the government does not privatize...
Persistent link: https://www.econbiz.de/10012858455
intensive and have higher labor costs. Thus, evidence from this study could be interpreted to mean that privatization could …
Persistent link: https://www.econbiz.de/10012861129
This paper proposes a model of imperfect competition among privately owned firms that act in the best interest of their shareholders. The existence of a solution for the model is proved under weaker conditions than the ones generally used in the literature. In particular, the results did not...
Persistent link: https://www.econbiz.de/10013051138
Using a database of more than 180,000 private companies from 2000 to 2009, we find that the benefits of holding more cash vary substantially with a firm's size and the conditions it faces. Cash holdings matter most for small firms: when there are negative shocks to industry or macroeconomic...
Persistent link: https://www.econbiz.de/10013052400
rights from landowners via bargaining, a holdout problem arises. Eminent domain gives all of the bargaining power to the … bargaining power and, as a result, their property investments become more inefficient. This is the cost of Kelo. A policy of … this occurs only if the developer has very little bargaining power. We propose an alternative government policy that …
Persistent link: https://www.econbiz.de/10013040028
In the rapidly expanding world of social impact finance, “pay for success” or “PFS” programs are increasingly popular vehicles for attracting private resources to address historically intractable social problems. Also known as “social impact bonds,” these programs are designed to...
Persistent link: https://www.econbiz.de/10012931885
Persistent link: https://www.econbiz.de/10012619742
which to evaluate evolutions in modern property theory. We argue here that waste doctrine is more than just an historical …
Persistent link: https://www.econbiz.de/10013234516
Firms along the supply chain rely on both public disclosures and private information exchanges to develop forecasts about future performance. In this paper, we examine how a firm’s public and private channels of information sharing with its trading partners affect information spillovers along...
Persistent link: https://www.econbiz.de/10013242499
improves domestic social welfare, as it allows the public firm to lower its poaching price. In both cases, privatization is …
Persistent link: https://www.econbiz.de/10013272877