Introduced in 2010, the regulation obliging one-year duration for credit card rewards programs may have provided card companies with a cost-saving justification for terminating rewards program prematurely. In addition, the recently announced revision to the Regulation on Supervision of...

The substantial influence of CEOs diminishes the oversight function of the board of directors. Many outside directors have social ties with CEOs and their behavioral patterns are inconsistent with those of vigilant monitors. Dissents are rare, and those who do dissent are highly likely to be...

An analysis of Korean firm data reveals that there is a higher tendency for CEOs in cartel firms to maintain their posts when the overall industrial performance, and not the individuals' relative performance, is high. This implies that an incentive for collusion, instead of competition, is...

An analysis of Korean firm data reveals that there is a higher tendency for CEOs in cartel firms to maintain their posts when the overall industrial performance, and not the individuals' relative performance, is high. This implies that an incentive for collusion, instead of competition, is...

Introduced in 2010, the regulation obliging one-year duration for credit card rewards programs may have provided card companies with a cost-saving justification for terminating rewards program prematurely. In addition, the recently announced revision to the Regulation on Supervision of...

Introduced in 2010, the regulation obliging one-year duration for credit card rewards programs may have provided card companies with a cost-saving justification for terminating rewards program prematurely. In addition, the recently announced revision to the Regulation on Supervision of...

A reduction in search costs is generally believed to make markets more competitive. However, the effect may be mitigated or amplified if consumers must pay costs for switching products. This paper investigates how search costs affect prices in the presence of switching costs using U.S. domestic...