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Monetary policy, crisis and capital centralization in corporate ownership and control networks : a B-Var analysis

Brancaccio, Emiliano; Giammetti, Raffaele; Lopreite, Milena - 2019

Based on a connection between network analysis and B-VAR models, this paper provides a first empirical evidence of the relationships between capital centralization expressed in terms of network control on one hand and monetary policy guidelines and business cycles on the other. Our findings...

Persistent link: https://www.econbiz.de/10012098517

Do business groups affect corporate cash holdings? : evidence from a transition economy

Cai, Weixing; Zeng, Cheng; Lee, Edward; Ozkan, Neslihan - In: China journal of accounting research : CJAR 9 (2016) 1, pp. 1-24

We examine whether business groups’ influence on cash holdings depends on ownership. Group affiliation can increase firms’ agency costs or benefit firms by providing an internal capital market, especially in transition economies characterized by weak investor protection and difficult...

Persistent link: https://www.econbiz.de/10011844586

On Moral Hazard and Joint R&D

Fabrizi, Simona; Lippert, Steffen - Centre for Economic Research, School of Economics and … - 2007

This paper analyzes how the determinants of two entrepreneurs’ choice whether to conduct product innovation R&D projects alone, or in a cross license agreement, or in a research joint venture depend on the intrinsic nature of the R&D projects. Results show that in fundamental research -- which...

Persistent link: https://www.econbiz.de/10005416715

Macroeconomic policy and ownership structure in a mixed transition economy

Miyamoto, Katsuhiro; Yu, Jinping - In: Journal of comparative economics : the journal of the … 28 (2000) 4, pp. 762-785

Persistent link: https://www.econbiz.de/10001545632

Monetary policy, crisis and capital centralization in corporate ownership and control networks : a B-Var analysis

Brancaccio, Emiliano; Giammetti, Raffaele; Lopreite, Milena - In: Structural change and economic dynamics : SC+ED 51 (2019), pp. 55-66

Persistent link: https://www.econbiz.de/10012299928

Monetary Policy, Ownership Discrimination and Leverage Differentiation of Non-financial Enterprises

Han, Xun - 2020

This paper systematically analyzes the impact of monetary policy on non-financial enterprises' leverage differentiation under bank credit discrimination, taking advantage of data provided by non-financial listed companies from 2007 to 2017. The results show that bank credit discrimination will...

Persistent link: https://www.econbiz.de/10012823649

The North American Free Trade Agreement and the European Union

Gianaris, Nicholas V. - 1998 - 1. publ.

Persistent link: https://www.econbiz.de/10000636881

Public Governance of Central Banks : An Approach from New Institutional Economics

Oritani, Yoshiharu - 2013

central banks. First, Williamson's theory of "governance as integrity" (probity) is applied to the internal management of … central banks. Moe's theory of "public bureaucracy" is applied to the concept of central bank independence. Second, we apply … agency theory to the issues associated with central bank independence and accountability. Third, public choice theory is …

Persistent link: https://www.econbiz.de/10013094790

Monetary Liability for Breach of the Duty of Care?

Spamann, Holger - 2016

This paper clarifies why optimal corporate governance generally excludes monetary liability for breach of directors' and managers' fiduciary duty of care. In principle, payments predicated on judicial evaluations of directors' and managers' business decisions could usefully supplement payments...

Persistent link: https://www.econbiz.de/10013003706

Bitcoin’s Value Proposition : Shorting Expansionary Monetary Policies

Morillon, Thibaut G. - 2021

In this paper I discuss Bitcoin’s defining features that make it a unique asset. I argue that Bitcoin should not be considered as a single purpose asset only, but rather as a new digital financial asset serving several function. In addition to functioning as a means of payment (at least...

Persistent link: https://www.econbiz.de/10013225621