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Towards a Legal Theory of Finance
Pistor, Katharina - C.E.P.R. Discussion Papers - 2012
where the survival of the system is at stake; that is, at its core. Here, power becomes salient. This helps explain why …
Persistent link: https://www.econbiz.de/10011084310
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The European Commission - Appointment, Preferences and Institutional Relations
Napel, Stefan; Widgrén, Mika - C.E.P.R. Discussion Papers - 2006
The paper analyses the appointment of the European Commission as a strategic game between members of the EU's Council of Ministers and the European Parliament. The focal equilibrium results in Commissioners that duplicate policy preferences of national Council representatives. Different internal...
Persistent link: https://www.econbiz.de/10005136464
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Political Conflict and Power-Sharing in the Origins of Modern Colombia
Mazzuca, Sebastián L; Robinson, James A - C.E.P.R. Discussion Papers - 2006
representation (PR), was the desire of the Conservative and Liberal parties to come up with a way of credibly dividing power to avoid … problem with majoritarian electoral institutions was that they did not allocate power in a way which matched the support of … with the rising support for socialism and the desire to divide power more broadly. Our findings shed new light on the …
Persistent link: https://www.econbiz.de/10005114374
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Two is Company, N is a Crowd? Merchant Guilds and Social Capital
Dessí, Roberta; Piccolo, Salvatore - C.E.P.R. Discussion Papers - 2009
Local merchant guilds were ubiquitous in medieval Europe, and their development was inextricably linked with the development of towns and the rise of the merchant class. We develop a theory of the emergence of local merchant guilds as an efficient mechanism to implement collusion among merchants...
Persistent link: https://www.econbiz.de/10004976786
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Insurance companies of the poor
Bold, Tessa; Dercon, Stefan - C.E.P.R. Discussion Papers - 2014
prevalent the more enforcement power communities have, and the more enforcement power, the better insurance. We use data on …
Persistent link: https://www.econbiz.de/10011096095
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Social Capital, Trust, and Firm Performance during the Financial Crisis
Lins, Karl; Servaes, Henri; Tamayo, Ane - C.E.P.R. Discussion Papers - 2015
We study the extent to which a firm’s social capital, as measured by the intensity of a firm’s corporate social responsibility (CSR) activities, affects firm performance during the 2008-2009 financial crisis. We find that high-CSR firms have crisis-period stock returns that are four to five...
Persistent link: https://www.econbiz.de/10011165644
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You Can Pick Your Friends, But You Need to Watch Them: Loan Screening and Enforcement in a Referrals Field Experiment
Bryan, Gharad; Karlan, Dean S.; Zinman, Jonathan - C.E.P.R. Discussion Papers - 2012
We examine a randomized trial that allows separate identification of peer screening and enforcement of credit contracts. A South African microlender offered half its clients a bonus for referring a friend who repaid a loan. For the remaining clients, the bonus was conditional on loan approval....
Persistent link: https://www.econbiz.de/10011083275
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Seeds of Distrust: Conflict in Uganda
Rohner, Dominic; Thoenig, Mathias; Zilibotti, Fabrizio - C.E.P.R. Discussion Papers - 2012
We study the effect of civil conflict on social capital, focusing on the experience of Uganda during the last decade. Using individual and county-level data, we document large causal effects on trust and ethnic identity of an exogenous outburst of ethnic conflicts in 2002-05. We exploit two...
Persistent link: https://www.econbiz.de/10011083530
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Network Dynamics and Knowledge Transfer in Virtual Organizations: Overcoming the Liability of Dispersion
Gandal, Neil; Stettner, Uriel - C.E.P.R. Discussion Papers - 2014
Product development within and across community-based and geographically dispersed virtual organizations is becoming an increasingly important mechanism through which individual knowledge holders create and disseminate knowledge in joint efforts to generate products. Without the benefits of...
Persistent link: https://www.econbiz.de/10011083814
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Market Structure and Borrower Welfare in Microfinance
de Quidt, Jonathan; Fetzer, Thiemo; Ghatak, Maitreesh - C.E.P.R. Discussion Papers - 2012
from the MIX Market database. Our results suggest that market power can have severe implications for borrower welfare …
Persistent link: https://www.econbiz.de/10011083818