发布求助
文献互助 智能选刊 最新文献

International Review of Law and Economics最新文献

筛选
英文 中文
Incentives for investments in defensive technology: An economic analysis of the Safety Act 防御技术投资的激励:安全法案的经济分析
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106116
Mattias K. Polborn
{"title":"Incentives for investments in defensive technology: An economic analysis of the Safety Act","authors":"Mattias K. Polborn","doi":"10.1016/j.irle.2022.106116","DOIUrl":"10.1016/j.irle.2022.106116","url":null,"abstract":"<div><p>Civilian targets of terrorist or criminal attacks (e.g., sport stadiums, chemical or nuclear industry; infrastructure such as ports or pipelines) are often owned by the private agents who choose how to guard against potential attacks. This creates an important externality problem, as some of the benefits of better protection accrue to other private agents who would suffer from an attack. We analyze a model in which a social planner wants to provide incentives for the deployment of defensive technologies. Our results show that some features of the Safety Act, enacted after the 2001 terror attacks, are probably counterproductive.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106116"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43626218","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Coase Theorem and the empty core: Inspecting the entrails after four decades 科斯定理与空洞：四十年后的内脏检验
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106117
Varouj A. Aivazian , Jeffrey L. Callen
{"title":"The Coase Theorem and the empty core: Inspecting the entrails after four decades","authors":"Varouj A. Aivazian ,&nbsp;Jeffrey L. Callen","doi":"10.1016/j.irle.2022.106117","DOIUrl":"https://doi.org/10.1016/j.irle.2022.106117","url":null,"abstract":"<div><p>Ronald Coase pioneered the transaction cost approach to the modern analysis of institutions, contracts, and property rights. We argue that core theory enhances Coase’s transaction cost approach by injecting considerations of coalition formation and stability into the analysis. Analysis of coalitional stability also provides additional insights regarding the nature of transaction costs and the efficiency of institutional arrangements when there are such costs. Overcoming the empty core is potentially an important function of contracts, institutions, and property rights. Empty cores complement transaction costs in rationalizing real-world institutional arrangements.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106117"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49748258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How stock market reacts to environmental disasters and judicial decisions: A case study of Mariana’s dam collapse in Brazil 股市对环境灾难和司法判决的反应:以巴西马里亚纳大坝坍塌为例
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106105
T.P. Assis, F.F. Cordeiro, L.C. Schiavon
{"title":"How stock market reacts to environmental disasters and judicial decisions: A case study of Mariana’s dam collapse in Brazil","authors":"T.P. Assis,&nbsp;F.F. Cordeiro,&nbsp;L.C. Schiavon","doi":"10.1016/j.irle.2022.106105","DOIUrl":"10.1016/j.irle.2022.106105","url":null,"abstract":"<div><p>This study examines the stock market reaction to one of the major environmental disasters of the world mining industry: the Mariana dam collapse in Brazil. Based on an event study, we evaluated the impact on the mining companies’ abnormal returns surrounding the disaster and also investigated whether post-event judicial decisions affected the companies. Our results show a significant negative effect around the days of the event, reporting a 5 % drop in daily returns. Regarding the legal efforts, our findings suggest the coordination time and the benefits granted by authorities as being interpreted positively, reducing market’s expectation of an agile or severe punishment following Mariana’s dam disaster.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106105"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43027186","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Strengthening worker benefits or destroying jobs: Effect of the 2008 Labor Contract Law in China 强化职工福利还是破坏就业——2008年《劳动合同法》对我国的影响
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106121
Chih-Hai Yang
{"title":"Strengthening worker benefits or destroying jobs: Effect of the 2008 Labor Contract Law in China","authors":"Chih-Hai Yang","doi":"10.1016/j.irle.2022.106121","DOIUrl":"10.1016/j.irle.2022.106121","url":null,"abstract":"<div><p>This study examines the effect of strict enforcement of the 2008 Labor Contract Law (LCL) on firm employment in China. Although the LCL caused a substantial increase in labor cost<span>, there are no negative repercussions on employment. By contrast, surviving firms continue to increase employment driven by the strong labor demand of the fast-growing Chinese economy. However, compared with non-exposed firms, exposed firms suffered negative repercussions on employment after the enforcement of LCL. Exposed firms exhibited reduced wages after the LCL relative to non-exposed firms, suggesting that wage has a mediation effect on reducing the insurance expenditures of both employers and employees; they also raised productivity considerably after the LCL to absorb the incremental labor costs and survive in the market. However, there are heterogeneous effects of wage and productivity among firms of various ownerships and exporting behaviors.</span></p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106121"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41835505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
A macrohistory of legal evolution and coevolution: Property, procedure, and contract in early-modern English caselaw 法律演化与协同演化的宏观历史:近代早期英国判例法中的财产、程序与契约
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106113
Peter Grajzl , Peter Murrell
{"title":"A macrohistory of legal evolution and coevolution: Property, procedure, and contract in early-modern English caselaw","authors":"Peter Grajzl ,&nbsp;Peter Murrell","doi":"10.1016/j.irle.2022.106113","DOIUrl":"10.1016/j.irle.2022.106113","url":null,"abstract":"<div><p>We provide a quantitative macrohistory of the evolution and coevolution of three fundamental elements of English caselaw: property, contract, and procedure. Our dataset is derived from a comprehensive corpus of reports on early-modern English court cases. Leveraging existing topic-model estimates, we construct annual time series of attention to each of the three legal domains between the years 1552 and 1764 and estimate a structural VAR. Property and procedure are affected for decades by their own shocks. Procedure and property coevolve. In contrast, contract adjusts quickly to its own shocks and does not coevolve with the other two areas of caselaw. We identify the episodes and events outside the legal system that correspond to systemic shocks. Edward Coke was a shock to procedure. The commercial revolution raised attention to contract. The Glorious Revolution, interestingly, did not lead to elevated attention to property issues, but the Civil War and Interregnum did. The evolution of contract, while relatively autonomous from the internal dynamics of the legal system, was, of the three legal domains, least autonomous from society.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106113"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46264666","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 2
Law enforcement with rent-seeking government under voting pressure 执法部门和寻租政府在投票压力下
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106118
Ken Yahagi , Yohei Yamaguchi
{"title":"Law enforcement with rent-seeking government under voting pressure","authors":"Ken Yahagi ,&nbsp;Yohei Yamaguchi","doi":"10.1016/j.irle.2022.106118","DOIUrl":"10.1016/j.irle.2022.106118","url":null,"abstract":"<div><p>This paper investigates how political accountability with voting pressure disciplines rent-seeking behaviors of the government (i.e., fine revenue maximization) by incorporating a two-period retrospective voting model into a law enforcement setting. For minor/major crimes where the pure rent-seeking enforcement is too strict/weak, the democratic process that provides disciplining incentives (e.g., lower discount rates, higher political rents, and fewer forgone collected fines the government must give up in exchange for reelection) makes the rent-seeking government weaken/strengthen enforcement. However, such discipline can still be insufficient and cause inefficient consequences. Additionally, for intermediate crimes, the democratic process can lead to the government’s inefficient pandering to voters and cause welfare deterioration, even compared to the pure rent-seeking enforcement case. The result shows that different types of distortions happen from previous studies when we consider the conflict between the rent-seeking government and citizens.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106118"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44627973","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Taxing banks leverage and syndicated lending: A cross-country comparison 对银行杠杆和银团贷款征税:一个跨国比较
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106103
A. Burietz , S. Ongena , M. Picault
{"title":"Taxing banks leverage and syndicated lending: A cross-country comparison","authors":"A. Burietz ,&nbsp;S. Ongena ,&nbsp;M. Picault","doi":"10.1016/j.irle.2022.106103","DOIUrl":"https://doi.org/10.1016/j.irle.2022.106103","url":null,"abstract":"<div><p>Between 2010 and 2012 and with bank stability as the ultimate target, five European countries implemented a tax levy on banks’ liabilities thereby decreasing the cost of equity relative to the cost of debt. Using a difference-in-differences approach we assess the impact of this tax levy on banks’ participation in the syndicated loan market. We further investigate the impact of the tax levy along bank size and capital structure. We find that banks located in countries where the tax levy was implemented supply more credit. This increase is more significant for larger lenders and banks that are more capital constrained.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106103"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49758708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Counteracting offshore tax evasion: Evidence from the foreign account tax compliance act 打击离岸逃税:来自《外国账户税收遵从法》的证据
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2023.106126
Carmela D’Avino
{"title":"Counteracting offshore tax evasion: Evidence from the foreign account tax compliance act","authors":"Carmela D’Avino","doi":"10.1016/j.irle.2023.106126","DOIUrl":"10.1016/j.irle.2023.106126","url":null,"abstract":"<div><p>This paper aims to investigate the effect of the Foreign Account Tax Compliance Act (FATCA) on the deposits held by US global banks through their branches located around the world. Using an unpublished dataset on deposits held by branches of US banks on a geographically unconsolidated basis, we find that the FATCA led to a reduction in deposits held in branches located in tax havens. We find that this effect is more severe in those jurisdictions signing a reciprocal exchange of information agreement. We also advance evidence in support of deposit shifting within the US banking system towards locations without a reciprocal intergovernmental agreement.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106126"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45090545","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The effect of political influence on corporate valuation: Evidence from party-building reform in China 政治影响对企业价值的影响——来自中国党建改革的证据
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106120
Christopher Chao-hung Chen , Re-Jin Guo , Lauren Yu-Hsin Lin
{"title":"The effect of political influence on corporate valuation: Evidence from party-building reform in China","authors":"Christopher Chao-hung Chen ,&nbsp;Re-Jin Guo ,&nbsp;Lauren Yu-Hsin Lin","doi":"10.1016/j.irle.2022.106120","DOIUrl":"10.1016/j.irle.2022.106120","url":null,"abstract":"<div><p><span>The party-building reform in China aims to strengthen the party-state control of firms by formalizing the Chinese Communist Party’s (CCP) role in corporate charters. We employ the reform as an exogenous shock to examine the effect of political influence on corporate valuation in the state-dominated economy. We first develop a hazard model of firms’ responses to the reform and use the predicted hazard rate as a proxy for a firm’s </span><em>ex ante</em><span> political influence. We find a positive correlation between firm valuation changes and the predicted hazard rate in the events of party-building reform announcements and a consistent long-term valuation effect based on the difference-in-differences analyses. We also find that the market reacts negatively when firms elect to adopt charter provisions that allow the CCP to control their personnel decisions. Together, our results are consistent with the hypothesis that the effect of party-building reform on a firm’s valuation depends on the trade-off between the benefits from the increased state capture and the costs of state influence in firm governance and that the enhanced political control costs are mitigated for firms with stronger existing political ties. This paper contributes to the literature by introducing a novel and integrated approach to measuring political influence that goes beyond the traditional state ownership measurement and by identifying </span><em>ex ante</em> political influence as an important factor in corporate valuation.</p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106120"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42659000","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 1
District attorney compensation and performance 地区检察官薪酬及表现
IF 1.1 3区 社会学
International Review of Law and Economics Pub Date : 2023-03-01 DOI: 10.1016/j.irle.2022.106102
Gregory DeAngelo , Bryan C. McCannon , Morgan Stockham
{"title":"District attorney compensation and performance","authors":"Gregory DeAngelo ,&nbsp;Bryan C. McCannon ,&nbsp;Morgan Stockham","doi":"10.1016/j.irle.2022.106102","DOIUrl":"10.1016/j.irle.2022.106102","url":null,"abstract":"<div><p>We attempt to identify the causal effect of wages on a prosecutor’s effort by studying an exogenous salary<span> increase in New York. We measure the performance by the likelihood that a conviction is upheld when appealed. If the efficiency wage theory explains behavior, then the exogenous wage shock should entice better performance. Alternatively, if individuals who hold office are motivated primarily by an intrinsic motivations rather than strictly financial compensation, then their performance would be unrelated to changes in their salary. We mostly find, inconsistent with efficiency wage theory, that a pay increase has a null effect on prosecutor performance.</span></p></div>","PeriodicalId":47202,"journal":{"name":"International Review of Law and Economics","volume":"73 ","pages":"Article 106102"},"PeriodicalIF":1.1,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43861483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
首页 上一页
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：604180095
Book学术官方微信