As a developing discipline, corporate identity is still understood and valued differently in the various European countries. So the questions remain: What is corporate identity and how can it benefit a company? What is its role in internationalization, and whose identities are the best?...

Contingent ownership structures are prevalent in joint ventures. We offer an explanation based on the investment incentives provided by such an arrangement. We consider a holdup problem in which two parties make relationship-specific investments sequentially to generate a joint surplus in the...

This report argues in favour of an economics-based approach to Article 82, in a way similar to the reform of Article 81 and merger control.

Mit der geplanten Dienstrechtsreform, die von Edelgard Bulmahn, der Bundesministerin für Bildung und Forschung, vorgestellt wird, sollen Hochschullehrer in Zukunft leistungsorientiert entlohnt und für Nachwuchswissenschaftler bessere Arbeitsbedingungen geschaffen werden. Für Hans Zehetmair,...

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

Employment contracts give a principal the authority to decide flexibly which task his agent should execute. However, there is a tradeoff, first pointed out by Simon (1951), between flexibility and employer moral hazard. An employment contract allows the principal to adjust the task quickly to...