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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishers Ltd.
    ISSN: 1467-9396
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: As ceilings on foreign shareholdings are withdrawn during liberalization, multinationals enter through fully owned subsidiaries that compete with their own joint ventures, unless local partners permit them to raise their stakes. In a framework of quantity competition, this paper demonstrates that an entry threat is more credible when joint venture investment is reversible, the units are independently managed and the local stake is high. Further, profitability of horizontal merger between the units encourages a share reallocation, while its absence favours a new subsidiary. Under irreversible investment, the threat is less credible and both share reallocations or new subsidiaries are less likely.
    Type of Medium: Electronic Resource
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  • 2
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    Unknown
    Dresden: Univ. of Technology, Fac. of Business Management and Economics
    Publication Date: 2013-05-22
    Description: Mis-match of trade statistics between developed and developing countries indicate a substantial mis-invoicing of trade figures, primarily by developing country traders. This is due to the inflexible exchange rate regimes, severe import restrictions and export subsidies prevailing in LDCs. In this paper we focus on the import under-invoicing due to high tariff barriers in a market where domestic producers compete with importers. Specifically, we examine how tariff levels, market structure and government intervention (in the form of intensity of monitoring and severity of penalties) affect the levels of under-invoicing. We also look at the optimal levels of import tariff and instruments of government intervention in these circumstances.
    Keywords: F12 ; F13 ; L13 ; ddc:330 ; import tariff ; under-invoicing ; Cournot oligopoly ; Import ; Zollpolitik ; Protektionismus ; Importhandel ; Außenhandelspreis ; Betrug ; Wettbewerbsbeschränkung ; Oligopol ; Schattenwirtschaft ; Theorie
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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  • 3
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd.
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The formation of international mergers is examined in the presence of two kinds of asymmetric information, one when a local firm has private information on market size and the other when a foreign firm has private information on its technology. In each situation, parametric configurations are identified under which a merger offer may or may not be made. It also examines the kind of offer and the probability of its acceptance. The likelihood of a merger beingformed is also related to the basic market size, demand uncertainty, and cost uncertainty. Welfare effects of tax/subsidy policies by the host country are also analyzed.
    Type of Medium: Electronic Resource
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  • 4
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    Unknown
    Munich: Center for Economic Studies and Ifo Institute (CESifo)
    Publication Date: 2016-10-07
    Description: Recruitment is often delegated to senior employees. Delegated recruitment, however, is vulnerable to moral hazard because senior employees may avoid recruiting the best candidates who could threaten their future seniority. We find that seniors will not deliberately choose bad candidates if the only information asymmetry between the owner and the recruiter relates to the candidates' type'. Delegation is then superior to direct (owner) recruitment and offering tenure' or guaranteed seniority to the senior employee is neither always desirable for the owner nor necessary to ensure good recruitment. If there is information asymmetry between the owner and the senior employee regarding additional aspects of firm operations, however, moral hazard may exist and tenure may be needed to ensure that the best candidate is selected. Offering tenure may then be desirable for the owner.
    Keywords: ddc:330 ; recruitment ; delegation ; moral hazard ; long term contract
    Repository Name: EconStor: OA server of the German National Library of Economics - Leibniz Information Centre for Economics
    Language: English
    Type: doc-type:workingPaper
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