共查询到20条相似文献,搜索用时 31 毫秒
1.
2002年Cording提出并购价值悖论,引起了学界对此命题的关注与研究热潮。本文借鉴社会冲突理论,对并购交易过程中管理者与股东之间冲突行为进行理论建模,通过模型分析得出冲突行为如何影响并购价值创造的作用机制。结论如下:在公司并购过程中,管理者可能会选择冲突,也可能选择合作。这主要由并购规模、激励水平、社会保护力量和冲突技术水平等因素决定。一般地,并购规模越大,管理者更倾向选择冲突。此外,激励水平越高、社会保护力量越强和股东的冲突技术水平越高,管理者越倾向选择合作。并购交易中管理者与股东的冲突模型较好地解释了现实中为什么有些并购交易能够创造价值而有些并购交易却损毁公司价值,为解释并购价值悖论现象提供了一个新的视角。 相似文献
2.
Raul Caruso 《International Review of Economics》2008,55(1-2):91-111
This paper considers a partial equilibrium model of conflict where two agents differently evaluate a contested stake. Differently from common contest models, agents have the option of choosing a second instrument to affect the outcome of the conflict. The second instrument is assumed to capture positive investments in ‘conflict management’—labeled as ‘talks’. The focus is on the asymmetry in the evaluation of the stake: whenever the asymmetry in the evaluation of the stake is large there is no room for cooperation and a conflict trap emerges; whenever the degree of asymmetry falls within a critical interval, cooperation seems to emerge only in the presence of a unilateral concession; as the evaluations of the stake converge, only reciprocal concessions can sustain cooperation. Finally the concept of entropy is applied to measure conflict and conflict management. 相似文献
3.
MAKOTO HANAZONO 《The Japanese Economic Review》2007,58(3):417-422
This note applies an evolutionary analysis to Skaperdas's (1992) static model of conflict and cooperation, in which agents are faced with trade‐offs between joint production and share competition. We adopt the stochastic evolution approach, and assume that each agent occasionally mimics the action of the winner of the stage. In contrast to Skaperdas's results that justify full or partial cooperation in productive activity, the long‐run equilibrium must exhibit total conflict; nobody engages in production at all. 相似文献
4.
Sub‐Saharan African countries have traditionally lagged the rest of the developing world in terms of overall trade relative to gross domestic product. But, there is growing interest among these countries to initiate trade policies and improve quality of institutions as a way to promote trade and boost foreign direct investment. This article extends the gravity model of trade to include proxies for trade reform policy and institutional quality among the 15 countries of the Economic Community of West African States (ECOWAS) for data spanning 1984–2006. Alternative methods of estimation based on ordinary least squares, Heckman two‐step procedure, and Poisson pseudo‐maximum likelihood produce predictions that are consistent with the standard gravity model. They further highlight the evidence of restrictive trade policies and weak institutions that contribute to the failure of ECOWAS countries to boost bilateral trade. (JEL F13, F15, O19, O55) 相似文献
5.
Why Democracies Cooperate More and Fight Less: The Relationship Between International Trade and Cooperation 总被引:1,自引:0,他引:1
Solomon W. Polachek 《Review of International Economics》1997,5(3):295-309
This paper provides an economics-based interpretation of the standard finding in the literature that democracies rarely fight each other. A general theory of conflict between two countries is presented and empirical analysis applies this theory to the question of why democracies rarely fight each other. The results show that the fundamental factor in causing bilateral cooperation is trade. Countries seek to protect wealth gained through international trade, therefore trading partners are less combative than nontrading nations. Democratic dyads trade more than nondemocratic dyads, and thus exhibit less conflict and more cooperation. 相似文献
6.
近年来,提高出口商品质量已成为提升中国对外贸易竞争力的迫切需要。文章从茶叶贸易中市场主体之间的关系分析入手,剖析了制约近代中国出口茶叶质量的关键力量,进而构建了一个两阶段动态博弈模型,以分析作为贸易和金融中间商的口岸茶栈对茶叶质量改进的影响。研究表明,口岸茶栈是影响近代中国出口茶叶质量的关键因素之一,但其对自身利益的追求与茶叶质量改进之间是冲突的,因而形成了对出口茶叶质量的制约作用。究其原因,最重要的是口岸茶栈与制茶号(生产者)之间难以形成长期的合作关系,进而导致制茶号只能够得到口岸茶栈的短期贷款以保证茶叶数量的供应,而难以获得长期信贷以提升出口茶叶质量。进一步地,文章对近代中国出口茶叶质量低劣的原因进行了更为全面的历史分析,发现出口茶叶质量不仅受制于制茶号改进质量的激励不足,而且受到了来自中间商与金融制度的多重信贷约束。此外,晚清政府无法提供有力的产业政策和财政政策支持也是制约因素之一。文章的结论为当下中国对外贸易“由量到质”的转型和加强供给侧改革提供了一定的启示。 相似文献
7.
闽台经贸合作与产业合作基地建设研究 总被引:5,自引:1,他引:5
闽台两省隔台湾海峡相望,区位优越,自然环境和历史人文相似,经济互补性强,经贸合作历史悠久,加强闽台经贸合作,构建闽台经济区,建设台湾海峡经济繁荣带,对于促进两岸统一有重大意义。本文分析了闽台经贸合作的域际条件与发展态势,在此基础上,探讨实现闽台经贸合作持续发展的对策,并提出闽台产业合作领域与基地建设的思路。 相似文献
8.
Razeen Sally 《Constitutional Political Economy》1998,9(1):19-44
Classical liberalism is presented as an alternative to the two established approaches to liberal international political economy, rational choice and neoliberal institutionalism. Classical liberalism diverges from rational choice by eschewing the assumption of rational utility-maximisation in perfectly competitive markets. Contrary to neoliberal institutionalism, it underlines the domestic or national preconditions of international order, with a policy emphasis on unilateral trade liberalisation in the context of market-like institutional [or intergovernmental] competition. This contrasts sharply with neoliberal institutionalism's preference for contingent or reciprocal trade liberalisation within the complex organisational machinery and cartel-like tendencies of intergovernmental negotiated cooperation. 相似文献
9.
当渠道的非合作导致的冲突被逐渐认识到时,渠道成员就会有意识地开展合作。那么,合作是否确实减少了冲突,增进了协调呢?本文利用博弈理论提出六个假设,然后用现代计量方法进行实证检验,最后得出以下结论:渠道合作博弈优于非合作博弈,渠道成员间倾向于合作博弈,合作博弈下的营销渠道纵向成员(参与方)选择为地位相当者,渠道合作博弈中普遍存在隐性冲突,其程度与成员影响力的运用有关,合作博弈下的渠道成员普遍比较协调,营销渠道成员合作的协调及持续协调与诚信公平相关。 相似文献
10.
Costas Hadjiyiannis Doruk İriş Chrysostomos Tabakis 《The Canadian journal of economics》2012,45(3):925-941
Abstract This paper explores the impact of fairness and reciprocity on multilateral tariff cooperation. Reciprocal countries reward kind behaviour (positive reciprocity), but retaliate against countries behaving unkindly (negative reciprocity). We demonstrate that reciprocal countries that are moderately demanding from their trading partners regarding their commercial policy can support a greater degree of cooperation than self‐interested ones. However, when only very liberal import policies are considered fair, then reciprocity could have a detrimental effect on multilateral tariff cooperation.Thus, our model provides a novel perspective on the role of expectations in trade negotiations. 相似文献
11.
Make Trade Not War? 总被引:2,自引:0,他引:2
This paper analyses theoretically and empirically the relationship between military conflicts and trade. We show that the conventional wisdom that trade promotes peace is only partially true even in a model where trade is economically beneficial, military conflicts reduce trade, and leaders are rational. When war can occur because of the presence of asymmetric information, the probability of escalation is lower for countries that trade more bilaterally because of the opportunity cost associated with the loss of trade gains. However, countries more open to global trade have a higher probability of war because multilateral trade openness decreases bilateral dependence to any given country and the cost of a bilateral conflict. We test our predictions on a large data set of military conflicts on the 1950–2000 period. Using different strategies to solve the endogeneity issues, including instrumental variables, we find robust evidence for the contrasting effects of bilateral and multilateral trade openness. For proximate countries, we find that trade has had a surprisingly large effect on their probability of military conflict. 相似文献
12.
Disintegration and Trade 总被引:1,自引:0,他引:1
The gravity model is used to assess the impact of disintegration on trade among the former constituent republics of three demised federations in central and eastern Europe: the Soviet Union, Yugoslavia, and Czechoslovakia. The authors find evidence of a very strong home bias around the time of disintegration, with trade exceeding normal trade intensity 24‐fold (for Slovenia and Croatia) to 43‐fold (the former Soviet Union and Czechoslovakia). Disintegration was followed by a sharp fall in trade intensity, although the legacy of a common past remains strong. By 1998, trade relations still exceeded the normal level 2‐fold in the case of Slovenia and Croatia, 7‐fold for the former Czechoslovakia, 13‐fold for the Baltics, and 30‐fold for Belarus, Russia, and Ukraine. Such trade intensities surpass the effects of formal preferential trade areas such as the EU or the impact of reunification on trade between East and West Germany. 相似文献
13.
The purpose of this paper is to show that export cartels are not necessarily harmful for consumers in the importing countries. Using a strategic trade policy model, we show that, contrary to the harmful effect, product‐market cooperation benefits consumers by affecting the trade policies. We further show that consumers in the importing countries are affected adversely if cooperation is among the governments of the exporting countries, instead of the exporting firms. 相似文献
14.
Seymour Patterson 《International Advances in Economic Research》1998,4(2):115-127
Recently many developing countries flocked to free trade because the forces that led policymakers to resist trade reforms in the past have weakened. Apart from obvious external pressures from lending institutions, developing countries may simply have seen that cooperation promises more benefits than conflict in the area of international trade. The ideological debate between market forces and government planning has been decided in favor of market forces. However, another possibility not much considered is that trade reform is in vogue and this provides the motivation for following suit. Thus, trade reform can precipitate a cascade effect (Hirshleifer's term) of countries queuing up to adopt trade reform policies. A country is more likely to favor the notion of trade reform if two or more other countries have already successfully moved in that direction. 相似文献
15.
《Journal of Comparative Economics》2021,49(3):776-800
This study investigates the long-term legacy of the slave trade on contemporary violence in sub-Saharan Africa. Using a geo-coded disaggregated dataset and exploiting within-country variation in slave trade intensity, we document a robust positive relationship between slave exports and contemporary conflict; the slave trade has long-lasting impacts on ethnic conflict and riots in particular. We examine the mechanisms underlying this persistence and find that the slave trade has weakened national identity, leading to a higher risk of ethnic conflict, and has also undermined economic development, which partly explains the relationship between the slave trade and riots. Furthermore, using the individual attitudes from the Afrobarometer survey, we show that the impact of the slave trade on national identity is mostly attributed to the inherited beliefs and norms rather than the external environment. 相似文献
16.
We study an incomplete information game in which players can coordinate their actions by contracting among themselves. We model this relationship as a reciprocal contracting procedure where each player has the ability to make commitments contingent on the other players' commitments. We differ from the rest of the literature on reciprocal contracting by assuming that punishments cannot be enforced in the event that cooperation breaks down. We fully characterize the outcomes that can be supported as perfect Bayesian equilibrium outcomes in such an environment. We use our characterization to show that the set of supportable outcomes with reciprocal contracting is larger than the set of outcomes available in a centralized mechanism design environment in which the mechanism designer is constrained by his inability to enforce punishments against non‐participants. The difference stems from the players' ability in our contracting game to convey partial information about their types at the time they offer contracts. We discuss the implications of our analysis for modelling collusion between multiple agents interacting with the same principal. 相似文献
17.
FDI、对外贸易与经济增长的协整性研究——以山东省为例 总被引:1,自引:0,他引:1
关于利用外资、进出口贸易与经济增长关系的研究一直以来备受关注,但近年来的研究大多致力于两者间关系的独立性研究,其结果往往会使得理论与实证研究的解释力受到影响。对于多个同阶序列变量之间是否存在长期稳定的均衡关系的研究,协整理论具有重要的应用,其既可充分利用信息资源,还有效避免了“伪回归”问题。另外鉴于不同区域问经济发展模式、发展水平的差异性,各经济要素之间的关系也不尽相同,本文采用山东省1984~2007年间24年的统计数据,对该省的外商直接投资、进出口贸易与经济增长之间的相互关系进行了协整性检验和误差修正模型分析,总结得到有关结论:山东省利用外资、进出口贸易与其经济增长之间存在长期均衡关系,但具有区别于其他地区的自身特点。最后,针对山东经济的协调发展提出了若干政策建议。 相似文献
18.
Roger D. Congleton 《Constitutional Political Economy》2016,27(2):179-193
Gordon Tullock wrote widely on the emergence and effects of political and legal institutions. Although he did not provide an analytical narrative, perse, his work provides explanations for the emergence of the state, civil law, constitutional law, and democracy. When his work is organized as a historical narrative, it becomes clear that conflict, rather than trade or cooperation, are at the core of Tullock’s approach to constitutional political economy. 相似文献
19.
Lynn Mainwaring 《Bulletin of economic research》1989,41(3):185-196
The trading relationship between a primary-producing South and a manufacturing North has dynamic properties of conflict and symbiosis similar to those of the closed-economy, worker-capitalist relationship. In a simple model these dynamics may lead to cyclical behaviour involving two variables, the Southern share of world income and the rate of exploitation of primary producing capacity. The rate of change of the terms of trade is also cyclical. Long-run income shares are constant, however, implying that the Southern terms of trade rise by just enough to offset productivity savings on primary inputs. 相似文献
20.
Extending the neo‐Schumpeterian trade model, we estimate a ‘social‐gap’ model for a group of 17 OECD countries over the period 1975–1995. We find that government spending on social protection, employment protection regulations, union density, strike activity, and income security in the labor market (all measured in ‘gap’ form) are statistically significantly related to changes in international competitiveness. Specifically, we find some support for a Calmfors–Driffil, nonlinear, relation between cooperative labor relations and social spending patterns on the one hand, and international trade (and inward foreign investment) competitiveness on the other, implying that countries with relatively stronger institutional arrangements have better international economic performance than countries in the middle of the scale of conflict and cooperation. Our results indicate that models focusing solely on innovative effort are misspecified, and may suffer from an omitted variable bias caused by the absence of consideration of other institutional factors influencing international trade and investment. 相似文献