Search results for "Bargaining power"
showing 10 items of 16 documents
Varieties of State Aid and Technological Development: Government Support to the Pulp and Paper Industry, the 1970s to the 1990s
2018
Countries promote the development of pulp and paper industry through industrial, technology and innovation policy measures. Direct interventions and regional and environmental policies, together with more general governmental measures on trade negotiations, taxation, labour policies, and infrastructure development (e.g. roads, energy) have also had an impact on shaping the geographical location of and investments in the pulp and paper industry. This chapter presents an historical overview of government support on pulp and paper industry in the Organisation for Economic Co-operation and Development (OECD) countries from roughly the 1970s to the 1990s. As the earlier literature suggests, in c…
Enhancing strategy design and planning in public utilities through “dynamic” balanced scorecards: insights from a project in a city water company
2008
In the last decade there has been an increasing effort to provide public utilities managers with planning and control tools, to take into account not only operational but also strategic issues. Among them are customer satisfaction, internal business process efficiency, business image, and bargaining power against other counterparts (e.g., the municipal administration). Often, however, such an effort has been oriented to generate a large volume of data, focused only on financial indicators and on a static view of the relevant system. This paper shows how the use of “dynamic” balanced scorecards can significantly improve the planning process in a strategic learning perspective. Insights from …
Coercion
2004
L''analisi della coazione si rivolge a quei vincoli che viziano la volontà di un agente in modo tale che il suo consenso e/o il suo accordo non può essere considerato volontario. In questo quadro generale, gli aspetti della coazione emergono in contesti diversi: dai problemi filosofici che determinano le condizioni necessarie e sufficienti per la mancanza di volontarietà, all''analisi economica delle asimmetrie nel potere di negoziazione, fino ai contesti che riguardano le relazioni internazionali.
Director Compensation Incentives and Acquisition Outcomes
2018
The principal objective of this chapter is to investigate the relation between director compensation structure and shareholder interests in the context of acquisitions. Our evidence suggests that acquirer firms that compensate their directors with a higher proportion of incentive-based compensation have significantly higher stock returns around the announcement. An increase in director equity-based pay results in a lower probability of value-destroying acquisitions and a lower acquisition premium for targets. We further find that acquirers with higher equity-based pay exhibit greater improvements in stock price and operating performance following acquisitions.
The importance of relation-specific investments in capital structure decision: the case of the biopharmaceutical industry
2012
According to capital structure literature, bilateral relationships with external partners have a strong impact on a firm’s financing decisions because they involve relation-specific investments that would lose most of their value in case of liquidation. By adjusting their capital structure firms can reduce liquidation risks and incentive their partners to undertake such investments. In this paper we extend these arguments to strategic alliances in the context of biotechnology industry, where bilateral relationships are formed to advance the commercialization of innovation and R-S investments are a primary issue. We investigate alliances heterogeneity and analyze whether partnerships possess…
플랫폼경제에서의 약자 보호
2021
Known by many names – platform, sharing, peer-to-peer (p2p), collaborative economy, and so on-entirely new business models have emerged in recent years, whereby online platforms use digital technologies to connect distinct groups of users in order to facilitate transactions for the exchange of assets and services. This dramatic shift in business organisation and market structure has opened an intense debate on the persisting need for those regulatory measures that typically protect the weaker party in bilateral business-to-consumer transactions. Widespread calls for a more " levelled playing field " makes a strong argument for reconsidering the scope of regulation and delegating regulatory …
The distributional effects of capital account liberalization
2018
Abstract Episodes of account liberalization increase the Gini measure of inequality, based on panel data estimates for 149 countries from 1970 to 2010. These episodes are also associated with a persistent increase in the share of income going to the top. We investigate three channels through which these impacts could occur. First, the impact of liberalization on inequality is stronger where credit markets lack depth and financial inclusion is low; positive impacts of liberalization on poverty rates also vanish when financial inclusion is low. Second, the impact on inequality is also stronger when liberalization is followed by a financial crisis. Third, liberalization seems to alter the rela…
When is there more employment, with individual or collective wage bargaining?
2019
Abstract In a standard Diamond-Mortensen-Pissarides labour market with frictions, the authors seek to determine when there is more employment with individual wage bargaining than with collective wage bargaining, using a wage equation generated by the standard total surplus sharing rule. Using a Cobb-Douglas production function, they find that if the bargaining power of the individual is high compared to the bargaining power of the union, there is more unemployment with individual wage setting and vice versa. When the individual worker and the union have the same bargaining power, if the cost of opening a vacancy is sufficiently high, there is more unemployment with individual wage setting. …
Skill Biased Technical Change and Misallocation: A Unified Framework
2019
Due to strict reliance on competitive labor markets, standard approaches which measure skill biased technical change (SBTC) conflate labor market distortions which prevent firms from choosing the efficient ratio between skilled and unskilled labor and `true' SBTC. This contrasts with recent evidence on decoupling between wages and productivity. To overcome this limitation, we present a unified framework to estimate SBTC which accounts for factor accumulation (FA) effects, and quantifies the discrepancy (i.e., relative misallocation) between the wage ratio (skilled to unskilled) and the marginal rate of technical substitution (MRTS). The suggested methodology takes advantage of recent develo…
Seniority rules, worker mobility and wages : evidence from multi-country linked employer-employee data
2018
We construct multi-country employer-employee data to examine the consequences of last-in, first-out rules. We identify the effects by comparing worker exit rates between different units of the same firms operating in Sweden and Finland, two countries that have different seniority rules. We observe a relatively lower exit rate for more senior workers in Sweden in the shrinking firms and among the low-wage workers. These empirical patterns are consistent with last-in, first-out rules in Sweden providing protection from dismissals for the more senior workers among the worker groups to whom the rules are most relevant. Similarly, we observe a steeper seniority-wage profile in Sweden, suggesting…