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Topic Competition and Regulation

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272 results, from 241
  • Diskussionspapiere 1030 / 2010

    Empiricism Meets Theory: Is the Boone-Indicator Applicable?

    Boone (2008a) proposes a new competition measure based on Relative Profit Differences (RPD) with superior theoretical properties. However, the empirical applicability and robust-ness of the Boone-Indicator is still unknown. This paper aims to address that question. Using a rich, newly built, data set for German manufacturing enterprises, we test the empirical valid-ity of the Boone-Indicator using ...

    2010| Alexander Schiersch, Jens Schmidt-Ehmcke
  • FINESS Working Papers 3.4 / 2009

    What's Banking Sector Concentration Got to Do with Private Equity Market?

    The paper investigates the link between bank concentration and a country's buyout market. We perform a macro level analysis for 15 European countries during 1997-2007. We estimate the elasticity of the country i's buyout market to country i's concentration in the banking sector. Our major finding suggests that the more concentrated the banking sector is, the better it is for the size of the buyout ...

    2009| Oleg Badunenko, Saloni Deva, Dorothea Schäfer, Michael Viertel
  • FINESS Working Papers 3.1A / 2009

    Agenda for Building a New Financial Market Architecture

    Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all financial markets, products and participants are regulated or subject to oversight, as appropriate to their circumstances." ...

    2009| Dorothea Schäfer
  • Diskussionspapiere 962 / 2009

    Overcoming Data Limitations in Nonparametric Benchmarking: Applying PCA-DEA to Natural Gas Transmission

    This paper provides an empirical demonstration for a practical approach of efficiency evaluation against the background of limited data availability in some regulated industries. Here, traditional DEA may result in a lack of discriminatory power when high numbers of variables but only limited observations are available. We apply PCA-DEA for radial efficiency measurement to US natural gas transmission ...

    2009| Maria Nieswand, Astrid Cullmann, Anne Neumann
  • Externe referierte Aufsätze

    Financial Constraints and Continental Business Groups: Evidence from German Konzerns

    Using a unique large panel of German firms, we examine whether participation in business groups (Konzerns) reduces the sensitivity of investment to cash flow. The main finding is that the investment sensitivity is significantly reduced for small firms. On the other hand, we do not find clear evidence that medium-sized and large firms participating in Konzerns have different sensitivity compared to ...

    In: Research in International Business and Finance 23 (2009), 3, S. 233-242 | Yuriy Gorodnichenko, Dorothea Schäfer, Oleksandr Talavera
  • Externe referierte Aufsätze

    The Effects of Uncertainty on the Leverage of Non-Financial Firms

    This paper investigates the link between the optimal level of nonfinancial firms' short-term leverage and macroeconomic and idiosyncratic sources of uncertainty. We develop a structural model of a firm's value maximization problem that predicts a negative relationship between uncertainty and optimal levels of borrowing. This proposition is tested using a panel of nonfinancial U.S. firms drawn from ...

    In: Economic Inquiry 47 (2009), 2, S. 216-225 | Christopher F. Baum, Andreas Stephan, Oleksandr Talavera
  • Diskussionspapiere 881 / 2009

    Benchmarking and Firm Heterogeneity in Electricity Distribution: A Latent Class Analysis of Germany

    In January 2009 Germany introduced incentive regulation for the electricity distribution sector based on results obtained from econometric and nonparametric benchmarking analysis. One main problem for the regulator in assigning the relative efficiency scores are unobserved firm-specific factors such as network and technological differences. Comparing the efficiency of different firms usually assumes ...

    2009| Astrid Cullmann
  • Externe referierte Aufsätze

    Divestitures in the Electricity Sector: Conceptual Issues and Lessons from International Experiences

    In: The Electricity Journal 22 (2009), 3, S. 57-69 | Hannes Weigt, Anne Neumann, Christian von Hirschhausen
  • Weitere externe Aufsätze

    The Promotion of Regional Innovative Networks: Lessons from the German InnoRegio-Programme

    In: Innovation Pathways and Knowledge Economy
    Prato : District Operative Unit Secretariat
    S. 52-61
    | Alexander Eickelpasch
  • Externe referierte Aufsätze

    Long-Term Contracts and Asset Specificity Revisited: An Empirical Analysis of Producer-Importer Relations in the Natural Gas Industry

    This paper discusses long-term contracts as a particular organizational form situated somewhere between full vertical integration and short-term, market-based trading in the natural gas industry. We focus on the determinants of the duration of contracts under changing technical, economic, and institutional conditions. Using 311 long-term contracts we find that duration decreases as international market ...

    In: Review of Industrial Organization 32 (2008), 2, S. 131-143 | Christian von Hirschhausen, Anne Neumann
272 results, from 241