Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania最新文献_第6页

Evaluating Pension Insurance Pricing 养老保险定价评估

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2013-09-01 DOI: 10.2139/SSRN.2337147

D. Babbel

引用次数: 5

Entrepreneurial Exits and Innovation 创业退出与创新

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2013-08-05 DOI: 10.2139/ssrn.2306053

Vikas A. Aggarwal, David H. Hsu

{"title":"Entrepreneurial Exits and Innovation","authors":"Vikas A. Aggarwal, David H. Hsu","doi":"10.2139/ssrn.2306053","DOIUrl":"https://doi.org/10.2139/ssrn.2306053","url":null,"abstract":"We examine how initial public offerings (IPOs) and acquisitions affect entrepreneurial innovation as measured by patent counts and forward patent citations. We construct a firm-year panel data set of all venture capital-backed biotechnology firms founded between 1980 and 2000, tracked yearly through 2006. We address the possibility of unobserved self-selection into exit mode by using coarsened exact matching, and in two additional ways: (1) comparing firms that filed for an IPO (or announced a merger) with those not completing the transaction for reasons unrelated to innovation, and (2) using an instrumental variables approach. We find that innovation quality is highest under private ownership and lowest under public ownership, with acquisition intermediate between the two. Together with a set of within-exit mode analyses, these results are consistent with the proposition that information confidentiality mechanisms shape innovation outcomes. The results are not explained by inventor-level turnover following exit events or by firms' preexit window dressing behavior. This paper was accepted by Lee Fleming, entrepreneurship and innovation.","PeriodicalId":80976,"journal":{"name":"Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania","volume":"16 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-08-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88133627","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}

引用次数: 155

Is Advance Selling Desirable with Competition? 有竞争的预售是否可取?

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2013-06-06 DOI: 10.2139/ssrn.2275357

Gérard P. Cachon, P. Feldman

{"title":"Is Advance Selling Desirable with Competition?","authors":"Gérard P. Cachon, P. Feldman","doi":"10.2139/ssrn.2275357","DOIUrl":"https://doi.org/10.2139/ssrn.2275357","url":null,"abstract":"It has been shown that a monopolist can use advance selling to increase profits. This paper documents that this may not hold when firms face competition. With advance selling a firm offers its service in an advance period, before consumers know their valuations for the firms' services, or later on in a spot period, when consumers know their valuations. We identify two ways in which competition limits the effectiveness of advance selling. First, while a monopolist can sell to homogeneous consumers at a high price, if consumers are equally uncertain as to which firm they prefer, their choice is based primarily on which firm has the lower price, and the resulting price competition lowers advance prices and profits. Second, competition in the spot period is likely to lower spot period prices, thereby forcing the firms to lower their advance period prices, which again is not favorable to profits. We show that with competition the firms may be better off if they sell only in the spot period. However, the firms may nevertheless find themselves in an equilibrium with advance selling. In this sense, advance selling is better described as a competitive necessity than as an advantageous tool to raise profits.","PeriodicalId":80976,"journal":{"name":"Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania","volume":"24 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2013-06-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83264109","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}

引用次数: 47

Dynamic Pricing Through Data Sampling 基于数据抽样的动态定价

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2013-05-20 DOI: 10.2139/ssrn.2376667

Maxime C. Cohen, R. Lobel, G. Perakis

引用次数: 25

Speculation and Hedging in Segmented Markets 细分市场中的投机和对冲

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2013-05-17 DOI: 10.2139/ssrn.1712472

Itay Goldstein, Yan Li, Liyan Yang

引用次数: 109

Hierarchical Cheap Talk 等级制度的废话

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2013-01-01 DOI: 10.3982/TE1038

A. Ambrus, Eduardo M. Azevedo, Yuichiro Kamada

引用次数: 78

Complementary Assets as Pipes and Prisms: Innovation Incentives and Trajectory Choices 作为管道和棱镜的互补资产:创新激励和轨迹选择

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2012-10-01 DOI: 10.2139/ssrn.1777241

Brian Wu, Zhixi Wan, Daniel A. Levinthal

引用次数: 114

The Business Case for Complying with Bribery Laws 遵守贿赂法的商业案例

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2012-07-01 DOI: 10.1111/J.1744-1714.2012.01134.X

Philip M. Nichols

{"title":"The Business Case for Complying with Bribery Laws","authors":"Philip M. Nichols","doi":"10.1111/J.1744-1714.2012.01134.X","DOIUrl":"https://doi.org/10.1111/J.1744-1714.2012.01134.X","url":null,"abstract":"This article addresses a gap in the common understanding of corruption. The rules regarding corruption at both the macro- and the micro-level are well known, as are the consequences at the macro-level. The consequences at the micro-level, however, particularly for business firms, are not well understood. With respect to rules, at both the macro-and micro-levels the rules are very clear: do not pay bribes. At the macro-level the consequences are well known: corruption has devastating effects on societies and economies. Although not often referred to in most corruption literature, the consequences at the micro-level can be discussed. This article begins with the direct and indirect costs imposed on firms that pay bribes. Firms that pay bribes spend more time and money dealing with governments, and bear the costs of distortions of internal resources. The article then examines the negative effects of corruption on existing relationships within the firm and potential relationships with parties outside of the firm. Finally, the article examines potential criminal and civil liability that a firm exposes itself to when it pays bribes. The totality of these costs and liabilities strongly suggest that the consequences for any given firm of paying a bribe would burden rather than benefit the firm.","PeriodicalId":80976,"journal":{"name":"Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2012-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79280435","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}

引用次数: 26

Making 1 1=1: The Central Role of Identity in Merger Math 1=1:同一性在并购数学中的核心作用

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2012-06-13 DOI: 10.2139/ssrn.2312378

H. Bouchikhi, J. Kimberly

引用次数: 3

Time-Varying Predictability in Mutual Fund Returns 共同基金收益的时变可预测性

Comparative labor law journal : a publication of the U.S. National Branch of the International Society for Labor Law and Social Security [and] the Wharton School, and the Law School of the University of Pennsylvania Pub Date : 2012-01-13 DOI: 10.2139/ssrn.1364351

Vincent Glode, Burton Hollifield, Marcin T. Kacperczyk, Shimon Kogan

引用次数: 29