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排序方式: 共有418条查询结果,搜索用时 31 毫秒
411.
We use data on sequential water auctions to estimate demand when units are complements or substitutes. A sequential English auction model determines the estimating structural equations. When units are complements, one bidder wins all units by paying a high price for the first unit, thus deterring others from bidding on subsequent units. When units are substitutes, different bidders win the units with positive probability, paying prices similar in magnitude. We recover individual demand consistent with this stark pattern of outcomes and confirm it is not collusive but consistent with noncooperative behavior. Demand estimates are biased if one ignores these features. 相似文献
412.
Timing of endogenous bargaining over costs and firms’ locations 总被引:1,自引:0,他引:1
This work analyzes a duopoly in which firms choose their locations and then bargain over wages with their unions. The timing
of the bargaining process is endogeously determined. We obtain that bargaining is simultaneous if and only if both firms decide
when negotiations take place. Otherwise negotiation takes place sequentially. Under simultaneous or sequential negotiations,
the market is equally shared and both firms have the same price-cost margins and profits. When bargaining is sequential firms
have higher profits, the leader locates closer to the market than in the simultaneous case, the follower locates further away
and the distance between the two firms is greater.
相似文献
413.
Nominal debt as a burden on monetary policy 总被引:1,自引:1,他引:0
Javier Díaz-Gimnez Giorgia Giovannetti Ramon Marimon Pedro Teles 《Review of Economic Dynamics》2008,11(3):493-514
We characterize the optimal sequential choice of monetary policy in economies with either nominal or indexed debt. In a model where nominal debt is the only source of time inconsistency, the Markov-perfect equilibrium policy implies the progressive depletion of the outstanding stock of debt, until the time inconsistency disappears. There is a resulting welfare loss if debt is nominal rather than indexed. We also analyze the case where monetary policy is time inconsistent even when debt is indexed. In this case, with nominal debt, the sequential optimal policy converges to a time-consistent steady state with positive—or negative—debt, depending on the value of the intertemporal elasticity of substitution. Welfare can be higher if debt is nominal rather than indexed and the level of debt is not too high. 相似文献
414.
The Removal of a Specialist Oversight Body for Local Public Audit: Insights from the Health Service in England 下载免费PDF全文
The abolition of the Audit Commission in England and Wales removes the ‘protector of the public purse’. The oversight body and its audit practice are largely replaced by the private sector regime and audit firms. We analyse the audit market for health service foundation trusts, an area of local public audit that operates without oversight from the Commission. We find evidence of premiums paid to some Big4 firms and that the presence of specialist public service auditors results in fee discounts. The firms limit their liability and assurance of audit quality is reduced under new audit regimes and governance structures. 相似文献
415.
Carolina Bona-Sánchez Jerónimo Pérez-Alemán Domingo Javier Santana-Martín 《Business ethics (Oxford, England)》2023,32(1):94-107
Despite the extensive research in both the determinants and the results of corporate social responsibility (CSR), relatively few studies have considered extra-legal institutions as potential determinants of CSR. Our work fills this gap by looking at how media attention affects CSR over a long-term period in a continental European setting. Our results show that media coverage positively affects CSR. Additional scrutiny triggered by media coverage encourages dominant owners to signal their commitment to limiting self-dealing transactions and their orientation toward stakeholders' needs through CSR investments. Additionally, our results reveal that this signaling device offers greater benefits and lower costs in firms where controlling owners show a voting-cash flow wedge. Our results are relevant to different actors such as investors, auditors, and policy makers as they provide solid evidence that media coverage is an important driver of CSR orientation in a continental European setting. 相似文献
416.
Pinzón Nathaly Montero Javier González-Pernía José L. 《The International Entrepreneurship and Management Journal》2022,18(3):1103-1140
International Entrepreneurship and Management Journal - A traditional stereotype of the entrepreneur is that of a lone hero. However, many entrepreneurs engage in new businesses as members of... 相似文献
417.
Roffia Paolo Simón-Moya Virginia Sendra García Javier 《The International Entrepreneurship and Management Journal》2022,18(3):1141-1172
International Entrepreneurship and Management Journal - This paper analyses the relationship between board of director (BoD) attributes and financial performance in small and medium-sized... 相似文献
418.
Antonovica Arta de Esteban Curiel Javier Herráez Beatriz Rodríguez 《The International Entrepreneurship and Management Journal》2023,19(1):261-291
International Entrepreneurship and Management Journal - The uncertain economic situation that was experienced because of the global financial crisis in 2008 and the exponential growth in the use of... 相似文献