Collusive Networks in Market‐Sharing Agreements in the Presence of an Antitrust Authority

This paper examines how the presence of an antitrust authority (AA) affects market‐sharing agreements made by firms. These agreements prevent firms from entering each other’s markets. The set of agreements defines a collusive network, which is pursued by antitrust authorities. This paper shows that in the absence of an AA, a network is stable if its alliances are large enough, and in the presence of an AA, more competitive structures can be sustained through bilateral agreements. Antitrust laws may have a procompetitive effect, as they give firms in large alliances more incentives to cut their agreements at once.     

‘Unbound’ employers' associations and derogations: erosion and renewal of collective bargaining in the German metalworking industry

Declining union density, the reduction in coverage or informal derogations from collective agreements are signs of erosion of the corporatist German system of collective bargaining. However, new developments can be observed like ‘unbound’ employers' associations or derogations from collective agreements. These new developments make it necessary to reassess the prospects of collective bargaining. At the first sight they seem to be little more than indicators of erosion or exhaustion, but the in‐depth analysis reveals that these developments can be starting points of renewal because they give stimuli to increase the associational power of employers' associations and, even more important for collective bargaining, unions. As a result, however, collective bargaining will become less corporatist in style.     

Productivity agreements and productivity

The effectiveness of productivity agreements as an agency for increasing productivity would be greatly enhanced by approaching the production process as a highly complex “system”, instead of assuming a simple relationship between labour effort and higher productivity.     

Voluntary agreements in environmental protection: experiences in Germany and future perspectives

A trend towards ‘softer’ regulation, especially in the form of negotiated environmental agreements, is observable in national and international environmental policies. Such agreements are controversial, because there are fears that government will relinquish its responsibility for environmental protection. This paper analyses recent experiences with voluntary agreements in Germany. Proponents of voluntary agreements argue that they provide incentives to business for the development of efficient, innovative and environmentally‒friendly solutions. Analysing some topical Germany examples, we conclude that it is hard to detect solutions deserving such attributes. These agreements are unlikely to produce results that go beyond what industry would have done in any case and they avoid using economic incentives; they are unenforceable, with the negotiating process leading to a watering down of the environmental goals government had originally aimed at. The Federal Government of Germany's, current preference for negotiated solutions on principle seems to be ‘counterproductive’. Government needs to be ‘in control’ to leave its choice of policy instruments open and to be flexible. Finally, we derive some general conclusions concerning reasonable strategies and applications of voluntary agreements within the EU. © 1997 John Wiley & Sons, Ltd and ERP Environment.     

Noncompete agreements,training, and wage competition

We study the effects of noncompete agreements in an environment where firms invest in training junior workers. After obtaining employer-provided training, trained workers can choose whether to remain loyal to their initial employer or switch to the competing employer. We evaluate the effects of noncompete agreements on wages, employment, investment in training, production, profits, and total welfare. Firms earn higher profits and pay lower average wage when they require workers to sign noncompete agreements.     

The effects of free trade agreements on regional wages in China

We empirically study the effects of free trade agreements on regional wages in China using Redding and Venables’ (2004) extended model and manufacturing firm-level data in China from 2000 to 2007. We show that although free trade agreements can, in general, increase firms’ average wage level, they also contribute to increasing the wage gap in China. We also find that free trade agreements can have different effects on firms’ wages across China. In particular, they have stronger effects on average wage levels in land border regions than in coastal regions. Moreover, although firms in land border regions may be located closer to the partner countries of free trade agreements, they may still prefer to use shipping to transport goods. Our findings have important policy implications. In particular, we suggest that free trade agreements with China’s western neighbors should be accompanied by the development of appropriate land transportation networks. Moreover, income tax policy regimes should be differentiated across regions in China.     

Technology agreements in Great Britain: a survey 1977–83*

Since 1979, the TUC has encouraged affiliated unions to control the direction and application of new technology in the workplace by the negotiation of new technology agreements with employers. This article, using a recent survey of 240 such agreements, examines the progress that trade unions have subsequently made.     

The evolving role of trade associations in negotiated environmental agreements: the case of United Kingdom Climate Change Agreements

Voluntary and negotiated agreements are becoming increasingly popular instruments for regulating industry's environmental performance. Although their main purpose is to modify the behaviour of individual firms, the coordinating role of trade (or industry) associations is often critical to their environmental effectiveness. Thus, a clear and mutually agreed understanding of associations' role in the agreement process is essential. This paper examines the nature of trade associations' input into the negotiation and implementation of environmental agreements, using the case study of United Kingdom Climate Change Agreements. Results show associations serving a range of coordinating roles, including the aggregation of members' viewpoints, negotiation of agreements, provision of regulatory and technical knowledge and collation of performance data. We conclude that further involvement of trade associations in negotiated and voluntary agreements can bring appreciable, though not uncontested, benefits in terms of environmental effectiveness. Copyright © 2005 John Wiley & Sons, Ltd and ERP Environment.     

上市公司治理准则——关联交易

上市公司与关联人之间的关联交易应签订书面协议。协议的签订应当遵循平等、自愿、等价、有偿的原则，协议内容应用确、具体。公司应将该协议的订立、变更、终止及履行情况等事项按照有关规定予以披露。[编者按]     

Renewed Interest in Work-sharing? Assessing Recent Developments in Germany

In the 1990s, attention has again been directed at prospects for work-sharing in response to threatened job losses. Various work-sharing agreements have been signed, especially in Germany, and most notably at Volkswagen. The Volkswagen agreements are considered, together with worker reactions and the prospects for the wider adoption of work-sharing.     

DOES INVESTOR PROTECTION INCREASE FOREIGN DIRECT INVESTMENT? A META‐ANALYSIS

We undertake a meta‐analysis of the effects of international investment agreements for the protection of foreign investors on foreign direct investment using 2107 estimates drawn from 74 studies. Our meta‐analysis finds robust evidence that effect of international investment agreements is so small as to be considered zero.  However, our results do not rule out the possibility that the effect of these agreements is, in fact, positive and that current research methods are insufficiently powerful or precise to identify the underlying genuine effect. FDI from developed countries appears to be more responsive to the existence of investment protection, and there is evidence of publication–selection bias in favour of studies that find a positive effect for investor protection.     

从标准与技术法规的关联区别谈我国技术法规体系的建设

文章从ISO和WTO／TBT协议对标准和技术法规的规定入手,对比分析了标准与技术法规的联系与区别,并以欧盟为例说明发达国家和地区标准体系的建设情况。在此基础上,通过对我国强制性标准的分析,指出我国强制性标准与发达国家技术法规之间存在本质区别,不能代替技术法规。并结合我国具体情况,对技术法规体系的建设提出了建设性意见。     

Licensing agreements as signals of innovation: When do they impact market value?

This paper explains the performance outcomes of markets for technology. It examines whether, and in what context, licensing agreements function as signals of innovativeness that influence investors' evaluation of public companies and if they are consistent ex post the announcement. Joining the literature on markets for technology and signalling theory, it distinguishes the outcomes related to the expectation and the confirmation of the signal, while investigating the context in terms of a company's analyst coverage. This distinction is addressed based on an empirical strategy that draws on a sample of 99 companies (2006–2012) and relates the investing community's reaction to both abnormal stock market returns in the day of the announcement and to Tobin's q one year after. The results show neither immediate nor ex post effects for outward agreements, and negative immediate and ex post effects for inward agreements, which are muted for companies with extensive analyst coverage. They thus suggest that inward licenses are relevant negative signals and that the value of signals is maintained across time horizons. Our theory development introduces analyst coverage as a contingency under which licensing agreements represent a weaker signal. Our research thus warns managers against publicly announcing their licensing strategies.     

Specialty products: the next challenge for alliances

As group purchasing matures, alliances and GPOs will need to expand their contract portfolio to include specialty products. As groups and manufacturers negotiate successful specialty products agreements and hospitals actively support those contracts, the industry as a whole stands to benefit. If alliance and manufacturers do not attempt to negotiate specialty products agreements that bring value to both parties, hospitals will miss out on savings, and suppliers will lose market share opportunities.     

A role for a pan-European trade union movement?–possibilities in European IR-regulation

Steps towards internationalisation of the trade union movement are considered in the context of the process of political and economic integration taking place in the EU. The trade unions are trying–partly via the ETUC–to play a role at pan-European level. However, the European trade union movement is not a cohesive entity. Besides, it has no significant transnational power-resources. These factors suggest that any European IR-system will be based primarily on political regulation rather than on a system of collective agreements.     

Flexible collective bargaining agreements: Still a moderating effect on works council behaviour?

We analyse the interaction between different labour market institutions in Germany, namely, industry‐level bargaining and firm‐level codetermination by works councils. In particular, we are interested in the moderating effect of flexibility measures on the link between the existence works councils and collective agreements on wages and productivity. In presence of institutional changes, the question is whether works councils in covered plants still generate rather than redistribute rents, given recent decentralisation processes in the German system of industrial relations. We augment a theoretical model to provide hypotheses, which are then tested using empirical analysis of representative German plant level data. We find that the existence of flexibility provisions in collective bargaining agreements does not alter the effect of works council on firms' wages. We find, however, that with flexibility provisions works council presence is associated with higher productivity levels than without such provisions. These findings, however, depend on the level of collective bargaining: they can only be observed in plants covered by industry‐level contracts, but do not hold in plants covered by firm‐level contracts.     

Airline passenger traffic openness and the performance of Emirates Airline

This paper uses cross-sectional data for 155 routes connecting Dubai to various international destinations to assess the relationship between air travel openness, representing airline agreements and the framework governing airlines, and the economic performance of Emirates Airline. We find that increased openness is associated with higher enplanement and lower fares. We also find that code-sharing agreements are associated with higher enplanement and higher fares. Given the complementary nature of such agreements for Emirates, this suggests potential collusive behavior. While these findings are specific to Emirates, they are regionally relevant as most carriers in the Gulf operate in an environment that is similar to Emirates's. Thus, further liberalization of the passenger airline markets of UAE and other Gulf carriers – which includes the elimination of code-sharing-related collusive agreements – would likely result in increased expenditure on air travel and lower production costs (from ensuing competitive pressures). Such outcomes can potentially yield net welfare gains for the UAE and other Gulf countries.     

Avoiding pitfalls and realizing potentials: researching redundancy regulation in Sweden,the United Kingdom and Japan

This paper attempts to explore the theoretical and practical implications of conducting comparative research in the realm of legal science. The endeavour is based on experiences gained from engaging in such activities as part of a research project in labour law. In order to allow for a critical evaluation of ways in which to regulate redundancy, the study mentioned sets Swedish collective agreements on employment security against British redundancy pay legislation and the Japanese Employment Stabilizations Fund system. The paper discusses the pitfalls and potentials of the chosen approach and presents some tentative conclusions regarding its benefits.     

Tax avoidance and business location in a state border model

Previous studies have struggled to demonstrate that higher taxes deter business activity. We revisit this issue by estimating the effect of changes over time in cross-border differences in state tax conditions on the tendency for new establishments to favor one side of a state border over the other. Identification is enhanced by taking account of previously overlooked reciprocal agreements that require workers to pay income tax to their state of residence as opposed to their state of employment. When reciprocal agreements are in force, higher personal income tax rates lure companies from across the border, while corporate income tax and sales tax rates have the opposite effect. Where reciprocal agreements are not in place, the results are largely reversed. These patterns are amplified in heavily developed locations, and differ in anticipated ways by industry and corporate/non-corporate status of the establishment. Overall, results strengthen the view that state-level tax policies do affect the location decisions of entrepreneurs and new business activity, but not in a way that lends itself to a one-size-fits-all summary.     

Do regional trade agreements increase trade? Empirical evidence from the Asia–Pacific region

This article examines the effects of regional trade agreements. The augmented gravity model of international trade is used to test for trade creation and diversion in the context of trade agreements in the Asia-Pacific region. The results of the estimated model indicate that trade has increased among the members of AFTA and APTA but not among the AANZFTA members. Differences in the levels of development appear to have a significant impact on trade flows, suggesting that there can be no general presumption about the extent of trade creation and trade diversion.