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Leniency Policies and Illegal Transactions

Buccirossi, Paolo; Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2005

properly designed - leniency may simultaneously provide an effective governance mechanism for occasional sequential illegal …

Persistent link: https://www.econbiz.de/10005124229

Soaring Minds: The Flight of Israel’s Economists

Ben-David, Dan - C.E.P.R. Discussion Papers - 2007

Despite their small number, Israeli economists have become an important fixture in the international academic scene. In recent years, this phenomenon has been characterized by an additional attribute: the number of Israelis who have chosen to leave the country’s universities - or not to return...

Persistent link: https://www.econbiz.de/10005497751

Ranking Israel's Economists

Ben-David, Dan - C.E.P.R. Discussion Papers - 2008

One of the more important measures of a scholar’s research impact is the number of times that the scholar’s work is cited by other researchers as a source of knowledge. This paper conducts a first of its kind examination on Israel’s academic economists and economics departments, ranking...

Persistent link: https://www.econbiz.de/10005498083

Decentralized Deterrence, with an Application to Labor Tax Auditing

Di Porto, Edoardo; Persico, Nicola; Sahuguet, Nicolas - C.E.P.R. Discussion Papers - 2012

Deterrence of illegal activities is frequently carried out by many atomistic auditors (tax auditors, law enforcement agents, etc.). Not much is known either normatively about the best way to incentivize atomistic auditors, nor positively about what these incentives actually look like in real...

Persistent link: https://www.econbiz.de/10011083887

Brain Drained: A Tale of Two Countries

Ben-David, Dan - C.E.P.R. Discussion Papers - 2008

This paper provides a comparative examination of how public universities in two countries, the United States and Israel, have evolved over the past few decades - and how differences between the two have culminated in a rate of academic brain drain from the latter to the former that is...

Persistent link: https://www.econbiz.de/10005656177

Making A Difference

Francois, Patrick - C.E.P.R. Discussion Papers - 2005

Despite the potential for free-riding, workers motivated by `making a difference' to the mission or output of an establishment may donate labour to it. When the establishment uses performance related compensation (PRC), these labour donations closely resemble a standard private provision of...

Persistent link: https://www.econbiz.de/10005662127

Making A Difference

Francois, Patrick - C.E.P.R. Discussion Papers - 2005

Despite the potential for free-riding, workers motivated by ‘making a difference’ to the mission or output of an establishment may donate labour to it. When the establishment uses performance related compensation (PRC), these labour donations closely resemble a standard private provision of...

Persistent link: https://www.econbiz.de/10005792389

Financial Disclosure and Market Transparency with Costly Information Processing

Di Maggio, Marco; Pagano, Marco - C.E.P.R. Discussion Papers - 2012

We study a model where some investors (“hedgers”) are bad at information processing, while others (“speculators”) have superior information-processing ability and trade purely to exploit it. The disclosure of financial information induces a trade externality: if speculators refrain from...

Persistent link: https://www.econbiz.de/10011083365

A Theory of Income Smoothing When Insiders Know More Than Outsiders

Acharya, Viral V; Lambrecht, Bart - C.E.P.R. Discussion Papers - 2012

We consider a setting in which insiders have information about income that outside shareholders do not, but property rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent with outsiders' expectations based on publicly...

Persistent link: https://www.econbiz.de/10011083832

Corporate Fraud, Governance and Auditing

Immordino, Giovanni; Pagano, Marco - C.E.P.R. Discussion Papers - 2008

performance sensitivity of managerial pay, taking external corporate governance and auditing regulation into account. For given … managerial pay, it is optimal to rely on auditing when external governance is in an intermediate range. When both auditing and … incentive pay are used, worse external governance must be balanced by heavier reliance on both of those incentive mechanisms. In …

Persistent link: https://www.econbiz.de/10005792136