{"title":"Introducing the Numerus Clausus of Property Rights","authors":"B. Akkermans","doi":"10.2139/SSRN.1975264","DOIUrl":"https://doi.org/10.2139/SSRN.1975264","url":null,"abstract":"This is the presentation held prior to the defense of the PhD Thesis 'The Principle of Numerus Clausus in European Property Law' defended in Maastricht, the Netherlands, on 17 October 2008. It is customary in the Netherlands to hold a 15 minute presentation to the audience of colleagues, family members and friends, explaining the topic and content of the PhD thesis. This short presentation explains the principle of numerus clausus in property law in terms of menu choices in restaurants.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121622381","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"It's All in Marshall: The Impact of External Economies on Regional Dynamics","authors":"D. Audretsch, Oliver Falck, Stephan Heblich","doi":"10.2139/ssrn.1016956","DOIUrl":"https://doi.org/10.2139/ssrn.1016956","url":null,"abstract":"Marshall's student Pigou noted: “It’s all in Marshall.” From a static point of view, this seems rather bold in a constantly changing world. However, this statement becomes more plausible in a dynamic context, where principles are subject to change. Indeed, over time, Marshall's concept of external economies gained fresh perspective as new concepts of regional characteristics and agglomeration evolved. This paper focuses on the impact of region and industry on dynamics and growth, distinguishing between industrial districts, industrial agglomerations and urban agglomerations. Based on these three types, we use a comprehensive large dataset on German regions to test the following: (1) these regions can be characterized by given location variables describing geographic location, firm structure, and surrounding location factors and (2) every region's locational variables affects its potential for dynamics.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124354546","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"North versus South: The Impact of Social Norms in the Market Pricing of Private Property Rights in Vietnam","authors":"Annette M. Kim","doi":"10.2139/ssrn.1680750","DOIUrl":"https://doi.org/10.2139/ssrn.1680750","url":null,"abstract":"Despite a centralized political system, country-wide legal reforms, and similar high housing demand pressures, property rights have evolved differently in Vietnam’s two leading cities, Hanoi and Ho Chi Minh City (HCMC), during the transition period. Using ethnographic fieldwork and a hedonic price model, the study shows that the two land and housing markets price tenure ambiguity differently. The different price structures indicate the importance of norms, as socially constructed by local political interests and culture, in the efficacy of land title regularization programs.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"67 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2007-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132117384","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"L'Impact de la Distribution de Dividendes: Une Étude de Cas (The Impact of Dividend Distribution: A Case Study)","authors":"Didier Maillard","doi":"10.2139/SSRN.2173365","DOIUrl":"https://doi.org/10.2139/SSRN.2173365","url":null,"abstract":"This paper assesses the impact of dividend distribution on the share price of the biggest quoted French firms. In the absence of market imperfections and taxes, dividend distribution should result in an equivalent drop in the share price (along Modiglini-Miller)In fact, a case study on 2002 shows a drop amounting to 80 percent of the dividend on the day of distribution.Arbitraging this difference could be imagined, especially for investors able to collect a tax credit equivalent to the corporate tax rate. But it seems diffiuclt to implement due to transaction costs and admissibility by the tax rules.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"181 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126770307","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Is Bigger Better? Investing in Reputation","authors":"A. Fishman, R. Rob","doi":"10.2139/ssrn.312145","DOIUrl":"https://doi.org/10.2139/ssrn.312145","url":null,"abstract":"We develop a model in which the value of a firm's reputation for quality increases gradually over time. In our model, a firm's ability to deliver high quality at any given period depends on how much it invests in quality. This investment is the firm's private information. Also, a firm's current quality is unobservable. Thus the only observable is a firm's past performance - the realized quality of the products it delivered. We assume that information about a firm's past performance diffuses only gradually in the market. Thus, the longer a firm has been delivering high-quality products, the larger the number of potential customers which are aware of it. We show that in equilibrium, the firm's investment in quality increases over time, as its reputation - the number of consumers who are aware of its history - increases. This is because the greater its reputation, the more it has to lose from tarnishing it by under-investing and, conversely, the more it has to gain from maintaining it. This is recognized by rational consumers. Therefore, older - and hence larger firms - command higher prices as quality premia. This in turn feeds back into firms' investment incentives: The fact that they are able to command higher prices motivates older and larger firms to invest still more. So the older and larger a firm is, the more valuable an asset its reputation is.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124166347","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determinants of Investment and Policy Implications – With a Comparative Study of Investment Functions in the LINK Models","authors":"Pingfan Hong","doi":"10.2139/ssrn.1758944","DOIUrl":"https://doi.org/10.2139/ssrn.1758944","url":null,"abstract":"This paper is intended to study the following questions: What are the important determinants of investment? How would these determinants affect investment? What are the policy implications for government to have impact on investment? What are the major different issues on investment between developed economies and developing economies? What are the gaps between the investment theories and the empirical evidences? After a literature view, the paper makes a comparative study of several econometric models from the LINK system, in terms of specification of investment and the impact of policies on investment.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1995-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114850604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Socio-Economic Rights Under the Canadian Charter","authors":"M. Jackman, Bruce Porter","doi":"10.2139/SSRN.2304525","DOIUrl":"https://doi.org/10.2139/SSRN.2304525","url":null,"abstract":"While the Canadian Charter of Rights and Freedoms does not mention socio-economic rights explicitly, the language of the Charter – particularly sections 7 and 15 – offers a firm foundation for constitutional protection for economic, social and cultural rights. The author argues that, considering the historical expectations of rights holders; the Charter's open-ended and expansive wording; its balancing of individual rights and collective values; the important interpretive role of the International Covenant on Economic, Social and Cultural Rights in determining the scope of rights and governments' responsibilities; and the broad range of remedies available for Charter violations, there is no reason why the Canadian courts should not play an active role in safeguarding socio-economic rights in Canada.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129609374","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Post-Conflict Property Restitution: Flawed Legal and Theoretical Foundations","authors":"M. J. Ballard","doi":"10.15779/Z38893F","DOIUrl":"https://doi.org/10.15779/Z38893F","url":null,"abstract":"The international community has recently hailed the restoration of property rights for people uprooted by armed conflict as a means of remedying forced displacement. Proponents of property restitution assert that this remedy can enhance the rule of law in a post-conflict society by promoting reconciliation and bolstering economic and social stability. A United Nations (U.N.) subcommission has endorsed a set of legal and technical guidelines for constructing a property restitution scheme. While other authors have written in support of this plan and a general right to property restitution, this Article represents a critical analysis of the remedy, pointing to weaknesses in its legal and theoretical foundations. \u0000 \u0000The current emphasis on property restitution is similar to past efforts of the United States and other Western nations to promote the rule of law and economic development through exporting an instrumentalist model of law. Just as these well-intentioned \"law and development\" efforts were plagued by unforeseen, deleterious consequences, so too might the export of property restitution laws and processes suffer from ill side effects. This Article identifies some of the possible unintentional outcomes of property restitution, including, ironically, that the U.N.'s property restitution scheme may ultimately undermine development of the rule of law. The Article seeks to spur further debate on the merits of property restitution so that unintended consequences might be avoided and the remedies to forced displacement can be strengthened to meet the needs of refugees and internally displaced people.","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"66 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127751533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Economic Adjustment and Growth in Small Developing Countries","authors":"Delisle Worrell","doi":"10.1007/978-1-349-12884-6_8","DOIUrl":"https://doi.org/10.1007/978-1-349-12884-6_8","url":null,"abstract":"","PeriodicalId":224966,"journal":{"name":"ERN: Firm Behavior; Transaction Costs; Property Rights (Topic)","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133125071","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}