in a continuous-time dynamic growth model featuring optimizing households and firms. Environmental quality is modelled as …

This paper presents a positive model which shows that institutional setups on capital and labor markets might be …-country relationship between labor market rigidities and of competition on capital markets receives considerable empicical support. …

The paper argues that the weakest link principle, which has been widely used as a measure of ultimate owners? control … rights, has a number of serious problems. A theoretically more satisfactory method of measuring control rights, based on … structures has little effect on the values of control and cashflow rights. The results also show that neither first-tier nor …

We argue in favor of the shareholder model of the firm for three main reasons. First, serving multiple stakeholders …-specific risks and reducing job creation. The transition from the Rhineland towards the shareholder model is fraught with …

ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other … complex interactions of financial and labour market institutions. Countries cluster along different complementary politics …-business interaction paths and there is no reason to expect, or to device policies for, their convergence to a single model of corporate …

ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other … other, generating complex interactions of financial and labour market institutions. Countries cluster along different … a single model of corporate governance. We argue that this hypothesis provides a more convincing explanation of the past …