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Direct experience of a peer's punishment might make non-punished peers reassess the probability and consequences of facing punishment and hence induce a change in their behavior. We test this mechanism in a setting, China, in which we observe the reactions to the same peer's punishment by listed...
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The 'two-thirds rule' stands as a caveat to the quantitative jurisdictional thresholds stipulated in the Merger …
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ownership. The sign and size of the merger effect will depend on the relative post-merger stakes of the common shareholders in …Common ownership fundamentally upsets the well-settled merger enforcement ecosystem. Not only it challenges basic … principles informing merger policy such as the presumed profitability of mergers for the merging firms and the merger …
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