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Articles 1 - 8 of 8
Full-Text Articles in Industrial Organization
When Less Is More: The Benefit Of Limits On Executive Pay, Peter Cebon, Benjamin Hermalin
When Less Is More: The Benefit Of Limits On Executive Pay, Peter Cebon, Benjamin Hermalin
Peter Cebon
We derive conditions under which limits on executive compensation can enhance efficiency and benefit shareholders (but not executives). Having their hands tied in the future allows a board of directors to credibly enter into relational contracts with executives that are more efficient than performance-contingent contracts. This has implications for the ideal composition of the board. The analysis also offers insights into the political economy of executive-compensation reform.
Financial Liberalization, Market Structure And Credit Penetration, Felipe Balmaceda Assoc Prof., Ronald Fischer Full Professor, Felipe Ramirez
Financial Liberalization, Market Structure And Credit Penetration, Felipe Balmaceda Assoc Prof., Ronald Fischer Full Professor, Felipe Ramirez
Felipe Balmaceda
This paper shows that the effects of financial liberalization on the credit market of a small and capital constrained economy depend on the market structure of domestic banks prior to liberalization. Specifically, under perfect competition in the domestic credit market prior to liberalization, liberalization leads to lower domestic interest rates, in turn leading to increased credit penetration. However, when the initial market structure is one of imperfect competition, liberalization can lead to the exclusion of less wealthy entrepreneurs from the credit market. This provides a rationale for the mixed empirical evidence concerning the effects of liberalization on access to credit …
The Impact Of Reversing Regulatory Arbitrage On Loan Originations: Evidence From Bank Holding Companies, Lan Shi, David H. Downs
The Impact Of Reversing Regulatory Arbitrage On Loan Originations: Evidence From Bank Holding Companies, Lan Shi, David H. Downs
Lan Shi
No abstract provided.
The Effect Of Mortgage Broker Licensing On Loan Origination Standards And Defaults Under The Originate-To-Distribute Model: Evidence From The U.S. Mortgage Market, Lan Shi, Yan Zhang
The Effect Of Mortgage Broker Licensing On Loan Origination Standards And Defaults Under The Originate-To-Distribute Model: Evidence From The U.S. Mortgage Market, Lan Shi, Yan Zhang
Lan Shi
No abstract provided.
Transaction Costs Analysis Of Low-Carbon Technologies, Luis Mundaca T., Mathilde Mansoz, Lena Neij, Govinda R. Timilsina
Transaction Costs Analysis Of Low-Carbon Technologies, Luis Mundaca T., Mathilde Mansoz, Lena Neij, Govinda R. Timilsina
Luis Mundaca
Transaction costs (TCs) must be taken into account when assessing the performance of policy instruments that create markets for the diffusion and commercialization of low-carbon technologies (LCTs). However, there are no comprehensive studies on the development and application of transaction cost analysis to LCTs. In this meta-analysis, a wide-ranging evaluation of TCs associated with energy efficiency, renewable energy, and carbon market technologies is provided. There is a plethora of different definitions of, and measurement techniques to estimate, TCs. There is wide variation in the quantitative estimates, which can be attributed to factors such as the definition used, data collection, quantification …
The Disciplining Effect Of Concern For Referrals: Evidence From Real Estate Agents, Lan Shi, Christina Tapia
The Disciplining Effect Of Concern For Referrals: Evidence From Real Estate Agents, Lan Shi, Christina Tapia
Lan Shi
No abstract provided.
A Comparison Of Anti-Manipulation Rules In U.S. And Eu Electricity And Natural Gas Markets: A Proposal For A Common Standard, Shaun D. Ledgerwood, Dan Harris
A Comparison Of Anti-Manipulation Rules In U.S. And Eu Electricity And Natural Gas Markets: A Proposal For A Common Standard, Shaun D. Ledgerwood, Dan Harris
Shaun D. Ledgerwood
In this paper, we describe the development and current status of anti-manipulation rules as they apply to wholesale electricity and natural gas markets in the United States and the European Union, including the institutions that are responsible for overseeing these rules. We then compare and contrast these jurisdictions to discuss similarities, differences, and potential gaps in coverage within and across their internal markets. We note that while the behavior prohibited by the U.S. and EU statutes is remarkably similar, there is in fact no common standard for defining market manipulation. The absence of a common EU/U.S. framework for examining manipulative …
Incentive Effect Of Piece Rate Contracts: Evidence From Two Small Field Experiments, Lan Shi
Incentive Effect Of Piece Rate Contracts: Evidence From Two Small Field Experiments, Lan Shi
Lan Shi
No abstract provided.