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Expected Returns on Real Investments : Evidence from the Film Industry
Powers, Thomas - 2015
Using a proprietary, project-level dataset on the film industry, I study a cross-section of expected returns on real investments. Expected returns are increasing and concave in the idiosyncratic dollar variance of a film's payoff, unlike in markets where such risk can be diversified. Expected...
Persistent link: https://www.econbiz.de/10013033309
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Investment in the absence of property rights : the role of incumbency advantages
Konrad, Kai A. - 2002
. This paper analyses the investment incentives of such agents and the role of incumbency advantages in the contest …. Depending on the advantages, an increase in the productivity of the investment can decrease or increase the amount of investment …. The results are applied to autocrats' investment behavior and job specific investment in organizations. …
Persistent link: https://www.econbiz.de/10011409735
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Control rights in public-private partnerships
Francesconi, Marco (contributor);  … - 2006
impurity is very low as long as one party's investment is more important than the other party's. If the parties' investments …, including schools and child custody. -- impure public goods ; contractual incompleteness ; allocation of authority ; investment …
Persistent link: https://www.econbiz.de/10003392741
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Property Rights, Finance, and Reinvestment : Evidence from China's Private Enterprises
Bai, Chong-En - 2009
The case of China seems to present a counterexample to the literature on economic institutions as its private enterprises have achieved spectacular growth despite poor protection of private properties and difficulties in accessing external finance. In this study, we address this apparent puzzle...
Persistent link: https://www.econbiz.de/10013155246
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Control Rights in Public-Private Partnerships
Francesconi, Marco - 2006
impurity is very low as long as one party's investment is more important than the other party's. If the parties' investments …
Persistent link: https://www.econbiz.de/10012780020
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Public Goods, Property Rights, and Investment Incentives : An Experimental Investigation
Kusterer, David J. - 2019
Who should own public projects? We report data from a laboratory experiment with 480 participants that was designed to test Besley and Ghatak's (2001) public-good version of the Grossman-Hart-Moore property rights theory. Consider two parties, one of whom can invest in the provision of a public...
Persistent link: https://www.econbiz.de/10012891817
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Development Derailed : Uncertain Property Rights and Coordinated Investment
Alston, Eric - 2020
overcome the empirical challenge that property rights and investment coevolve, our analysis exploits the spatially exogenous … development in the arid west, we find that the uncertainty delayed (4.2 years) and deterred (28 percent) irrigation investment in …
Persistent link: https://www.econbiz.de/10012852011
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Investment in the Absence of Property Rights : The Role of Incumbency Advantages
Konrad, Kai A. - 2021
. This paper analyses the investment incentives of such agents and the role of incumbency advantages in the contest …. Depending on the advantages, an increase in the productivity of the investment can decrease or increase the amount of investment …. The results are applied to autocrats' investment behavior and job specific investment in organizations …
Persistent link: https://www.econbiz.de/10013320550
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Property Rights Protection and Allocation of Investment : Evidence from China's Private Firms
Du, Julan; Lu, Yi; Tao, Zhigang - 2009
investment at the micro level. What is not clear is whether and how property rights protection affects a firm's allocation of … investment across industries for a given size of investment. In this paper, using a survey data set of private enterprises in … several possible channels through which property rights protection may affect the allocation of investment across industries …
Persistent link: https://www.econbiz.de/10014215811
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The Determinants and Impact of Property Rights : Land Titles on the Brazilian Frontier
Alston, Lee J.; Schneider, Robert; Libecap, Gary D. - 2012
effects on agricultural investment on Brazilian frontiers. We use survey data from 1992 and 1993 from the state of Para with … data on the characteristics of the settlers, land tenure, land agencies involved, land values, and investment. We then turn … of the theory regarding the effects of title and investment on land value; the role of expected change in value in …
Persistent link: https://www.econbiz.de/10014225552