排序方式: 共有53条查询结果,搜索用时 453 毫秒
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We investigate how a leniency program, which is a policy that gives reduced penalties to colluding firms that cooperate with
investigations of the Antitrust Authority, affects firms’ collusive behavior. Using a model of quantity competition, we show
that an amnesty to the second or later candidates of a leniency program is of no use if colluding firms can choose the most
profitable collusion. Because a leniency program is a general rule that is applied to various markets in a country, our result
implies that the design of a leniency program depends on which kinds of market structure are prevalent in the country. 相似文献
33.
Daisuke Okamoto 《Journal of Business Ethics》2009,87(1):117-132
As a criterion of a good firm, a lucrative and growing business has been said to be important. Recently, however, high profitability
and high growth potential are insufficient for the criteria, because social influences exerted by recent firms have been extremely
significant. In this paper, high social relationship is added to the list of the criteria. Empirical corporate social performance
versus corporate financial performance (CSP–CFP) relationship studies that consider social relationship are very limited in
Japan, and there are no definite conclusions for the studies in the world, because of scant data and the inappropriate methods,
especially for supporting linear hypothesis which these studies are based on. In this paper, the CSP–CFP relationship is analyzed
by an artificial neural networks model, which can deal with a non-linear relationship, using 10-year follow-up survey data.
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Daisuke OkamotoEmail: |
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AbstractThis empirical study focuses on competition between local governments as they strive to attract companies through the auction of land use rights. In the literature on competition between local governments, the focus has tended to be toward growth rates based on performance evaluation or tax rate-based competition for attracting companies. In China, the property tax system is still underdeveloped and local governments cannot independently set tax rates. Therefore, this study focuses on a type of ‘dumping’ activity by which local governments auction land use rights to attract industrial companies and empirically test this hypothesis using the spatial lag model. 相似文献
35.
We examine optimal merger and privatisation policies in a partially privatised oligopoly with differentiated goods. We first show that under the subgame perfect Nash equilibrium, sequential mergers either emerge completely or do not emerge at all. Given this outcome, we derive the following policy implications. First, the level of social welfare can be U‐shaped with respect to the number of merged firm pairs. That is, given that there are some mergers that have already taken place, further mergers may actually lead to welfare improvement. However, these welfare‐improving mergers may not be privately profitable, implying that merger‐friendly policies are appropriate. Second, policymakers can halt privatisation in order to diminish the private incentive for further sequential (welfare‐deteriorating) mergers and improve welfare. Third, full nationalisation is never optimal unless the goods are homogeneous or independent. Our results are applicable to the Japanese life insurance industry and the partial privatisation of Japan Post Insurance. 相似文献
36.
Preciado Arreola José Luis Yagi Daisuke Johnson Andrew L. 《Journal of Productivity Analysis》2020,53(2):181-225
Journal of Productivity Analysis - National statistical organizations often rely on non-exhaustive surveys to estimate industry-level production functions in years in which a full census is not... 相似文献
37.
Daisuke Tsuruta 《Applied economics》2016,48(15):1416-1428
We investigate the situation where small business borrowers and banks end their lending relationships. If credit allocation is efficient, banks terminate their relationships with risky borrowers. Alternatively, small business borrowers are more likely to end their relationships when they have poor investment opportunities and do not require borrowed funds. However, if the soft budget constraints of banks or credit crunches are a significant problem, banks are likely to continue their relationships with risky firms or end their relationships with nonrisky firms, which is representative of an unnatural credit allocation. Using Japanese firm-level data, we show empirically that these relationships end naturally, with natural credit allocation supported even during the recent global financial crisis. 相似文献
38.
Rationalizable foresight dynamics 总被引:2,自引:0,他引:2
This paper proposes and studies the rationalizable foresight dynamics. A normal form game is repeatedly played in a random matching fashion by a continuum of agents who make decisions at stochastic points in time. A rationalizable foresight path is a feasible path of action distribution along which each agent takes an action that maximizes his expected discounted payoff against another path which is in turn a rationalizable foresight path. We consider a set-valued stability concept under this dynamics and compare it with the corresponding concept under the perfect foresight dynamics. 相似文献
39.
This paper considers the robustness of equilibria to a small amount of incomplete information, where players are allowed to have heterogeneous priors. An equilibrium of a complete information game is robust to incomplete information under non-common priors if for every incomplete information game where each player's prior assigns high probability on the event that the players know at arbitrarily high order that the payoffs are given by the complete information game, there exists a Bayesian Nash equilibrium that generates behavior close to the equilibrium in consideration. It is shown that for generic games, an equilibrium is robust under non-common priors if and only if it is the unique rationalizable action profile. Set-valued concepts are also introduced, and for generic games, a smallest robust set is shown to exist and coincide with the set of a posteriori equilibria. 相似文献
40.
Daisuke Tsuruta 《Managerial and Decision Economics》2012,33(3):189-210
Previous studies argue that bank loans are cheaper than trade credit, so less‐constrained firms largely depend on bank loans and use trade credit less, especially in financially developed economies. However, the Japanese evidence does not support this view. First, small businesses with higher credit demand increase trade credit more during the period of the recovery from a severe recession. Second, creditworthy firms also increase trade credit to finance their growth opportunities. Third, firms in unstable industries increase trade credit more. This suggests that suppliers are able to offer credit, unlike banks, as they have a relative advantage in day‐by‐day monitoring. Copyright © 2012 John Wiley & Sons, Ltd. 相似文献