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Collusion in Organizations and Management of Conflicts through Job Design and Authority Delegation 职位设计与权力下放的组织合谋与冲突管理
International journal of economic research Pub Date : 2007-11-01 DOI: 10.17256/JER.2007.12.2.004
Yutaka Suzuki
{"title":"Collusion in Organizations and Management of Conflicts through Job Design and Authority Delegation","authors":"Yutaka Suzuki","doi":"10.17256/JER.2007.12.2.004","DOIUrl":"https://doi.org/10.17256/JER.2007.12.2.004","url":null,"abstract":"We analyze a principal-supervisor-two agent hierarchy with supervisory efforts, provide a characterization of the equilibrium of the game, and show which regime improves efficiency between the collusion-proof regime and the lateral collusion one, under the assumptions that the principal is less informed, and that the side-trade is costly. By coping with the trade-off between the value of information vs. either the cost of the collusion incentive constraint (in the collusion-proof regime) or the rent-seeking cost (in the equilibrium collusion one), for some parameters, the principal may want to adopt the collusion-proof contracts, and for other parameters, let collusion happen in equilibrium. As a characterization result, we derive the low-powered job for the agent and the high-powered job for the supervisor in each of the two regimes. Finally, we show how the allocation of real authority is endogenously determined, and interpret it from the viewpoint of the centralized vs. decentralized firms.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"35 1","pages":"203-241"},"PeriodicalIF":0.0,"publicationDate":"2007-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82556337","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: 15
Monopoly pricing of congestible resources with incomplete information 信息不完全情况下资源拥挤的垄断定价
International journal of economic research Pub Date : 2007-11-01 DOI: 10.17256/JER.2007.12.2.005
Jong‐Hee Hahn
{"title":"Monopoly pricing of congestible resources with incomplete information","authors":"Jong‐Hee Hahn","doi":"10.17256/JER.2007.12.2.005","DOIUrl":"https://doi.org/10.17256/JER.2007.12.2.005","url":null,"abstract":"This paper discusses monopoly pricing in a market with congestion-type negative externalities. Two broad classes of situations are considered: communications network congestion for the case of pro?t maximization and road congestion for the case of welfare maximization. We allow the firm to screen consumers with different preferences using a nonlinear tariff, which has been largely neglected in the previous literature. It turns out that the level of overall congestion in the market is too low due to incomplete information for all types of consumers. Also, it is shown that the production technology of congestible resources has a crucial impact on the firm's cost-recoverability.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"110 1","pages":"243-270"},"PeriodicalIF":0.0,"publicationDate":"2007-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80494770","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: 7
Bi-directional relationships between exports and growth: a panel cointegration analysis 出口与经济增长的双向关系:面板协整分析
International journal of economic research Pub Date : 2007-11-01 DOI: 10.17256/JER.2007.12.2.002
Sangjoon Jun
{"title":"Bi-directional relationships between exports and growth: a panel cointegration analysis","authors":"Sangjoon Jun","doi":"10.17256/JER.2007.12.2.002","DOIUrl":"https://doi.org/10.17256/JER.2007.12.2.002","url":null,"abstract":"This paper explores the relationship between international trade and economic growth, employing cutting-edge panel cointegration testing and estimation techniques. Annual panel data on 81 countries' macroeconomic variables over the period 1960-2003 are exploited in empirical analysis. Various panel unit root tests demonstrate that the data variables are integrated processes with unit roots. Three distinct panel cointegration techniques are used to estimate the regression equation. A positive bi-directional interactive relationship between exports and output growth is found and the positive impact of output on exports is a bit stronger than the reverse. The positive association between investment share and exports and the negative correlation between labor and exports are confirmed. The exports of high income, high export, and high investment countries seem to have somewhat larger output enhancement effects than those of low income, low export, and low investment nations. Several elucidations and policy implications are provided for the above findings.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"9 1","pages":"133-171"},"PeriodicalIF":0.0,"publicationDate":"2007-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88718212","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: 15
Effect of Campaign Advertising Expenditure on Candidate Quality Signaling in an Election 竞选广告支出对候选人质量信号的影响
International journal of economic research Pub Date : 2007-11-01 DOI: 10.17256/JER.2007.12.2.003
Sung-kyu Lee
{"title":"Effect of Campaign Advertising Expenditure on Candidate Quality Signaling in an Election","authors":"Sung-kyu Lee","doi":"10.17256/JER.2007.12.2.003","DOIUrl":"https://doi.org/10.17256/JER.2007.12.2.003","url":null,"abstract":"In an electoral market, if voters cannot distinguish between good-quality and bad-quality candidates before voting, bad-quality candidates may drive good-quality ones out of the election market: this is known as electoral lemon problem. That is, good-quality candidates may not win the election against bad-quality populist ones. This electoral lemon problem due to adverse selection can be eliminated or reduced by the screening by voters or by the signaling by high-quality candidates. Voters can screen candidate quality or candidates may send signal to voters. We attempt to examine the signaling model by candidates to inform voters that they are of high quality through campaign advertising and its expenditures. We examine a signaling model to explain the empirical results in which incumbent candidates have substantial positive effect on votes and also inefficient outcome from higher spending. Campaign expenditures can increase vote productivity. The campaign advertising of candidates serves to identify the candidates who possess high-quality characteristics. In reality, campaign expenditures can be spent by candidates for the purpose of sending a signal for candidate's personal quality. But quality signaling is often unproductive and thus results in the inefficient outcome.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"44 1","pages":"173-202"},"PeriodicalIF":0.0,"publicationDate":"2007-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81855845","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: 0
The hedging effectiveness of newly introduced yen currency futures contract 新推出的日元期货合约的套期保值效果
International journal of economic research Pub Date : 2007-11-01 DOI: 10.17256/JER.2007.12.2.001
Won-Cheol Yun
{"title":"The hedging effectiveness of newly introduced yen currency futures contract","authors":"Won-Cheol Yun","doi":"10.17256/JER.2007.12.2.001","DOIUrl":"https://doi.org/10.17256/JER.2007.12.2.001","url":null,"abstract":"Despite of regional closeness and active trading between Korea and Japan, there is little empirical analysis on the foreign exchange risk of Korean won and Japanese yen. Recently, the Korea Exchange (KRX) has introduced a Japanese yen currency futures contract. The main objective of this study is to examine the hedging performance of this foreign exchange hedging tool. This study sets up a theoretical framework for capital investment hedging schemes with direct and cross hedge types. According to the simulation results, the 1:1 na˜‡ve and the minimum variance hedge strategies outperform no-hedge strategy. With respect to risk reduction, the minimum variance hedge is considered to be marginally superior to the 1:1 na˜‡ve hedge. More importantly, the hedging performances of direct hedge strategies prove to be even better than those of cross hedge strategies. The difierences in the hedging performances between direct and cross hedges would be regarded as the efiects of introducing Japanese yen currency futures contract.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"10 1","pages":"113-132"},"PeriodicalIF":0.0,"publicationDate":"2007-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75093589","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: 0
Industrial Trade Creation Effect Analysis after Kore-U.S. FTA:i ncluding an Analysis on the Change of the Social Welfare in the Rice Market 韩美fta后产业贸易创造效果分析FTA:包括对大米市场社会福利变化的分析
International journal of economic research Pub Date : 2007-05-01 DOI: 10.17256/JER.2007.12.1.001
Sung-Jin Cho, Jung-geun Yoo
{"title":"Industrial Trade Creation Effect Analysis after Kore-U.S. FTA:i ncluding an Analysis on the Change of the Social Welfare in the Rice Market","authors":"Sung-Jin Cho, Jung-geun Yoo","doi":"10.17256/JER.2007.12.1.001","DOIUrl":"https://doi.org/10.17256/JER.2007.12.1.001","url":null,"abstract":"This paper shows the economic effects after Korea-U.S. FTA through Panel Model and Simultaneous Equation Model. First of all, the panel analysis results of industrial trade creation effects due to the tariff elimination after Korea-U.S. FTA are as below. It can be expected for Korea to increase the amount of exports 108.1 million dollars in the field of transport industries (automobiles/parts and other transportation instruments) and 1.14 million dollars in the field of telecommunication industries. For the U.S., it can be expected to increase the amount of exports ; 25.16 million dollars in the field of precision industries, 4.42 million dollars in the field of telecommunication industries, and 0.27 million dollars in the field of computer industries. In addition, the social welfare effects in the rice market of Korea are as below, i.e. supposing that the only rice market is opened and the quality of rice harvested in Korea and the U.S. is the same. In case that Calrose rice can be distributed fully in Korea market and the rice price in the U.S. is applied in Korea, total social welfare is estimated to increase about 1,981.6 billion wons. If the social welfare effect is divided into consumer’s surplus and producer’s surplus, it can be expected for consumers in Korea to be benefitted about 8,675.9 billion wons. However, it can be expected welfare loss about 6,694.2 billion wons for workers in the rice industries of Korea.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"7 1","pages":"1-25"},"PeriodicalIF":0.0,"publicationDate":"2007-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73006596","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: 1
Stock price reactions to M&A market events in Korea 韩国股市对并购市场事件的反应
International journal of economic research Pub Date : 2007-05-01 DOI: 10.17256/JER.2007.12.1.003
Yungsan Kim
{"title":"Stock price reactions to M&A market events in Korea","authors":"Yungsan Kim","doi":"10.17256/JER.2007.12.1.003","DOIUrl":"https://doi.org/10.17256/JER.2007.12.1.003","url":null,"abstract":"This paper conducts event-studies on two of the most important events in recent history of Korean M&A market, to examine which firms were regarded more vulnerable to hostile takeover. First is the event on December 14th, 1993, in which the Congress unexpectedly delayed for two years the repeal of the law prohibiting hostile takeover. Second is the event on March 11, 1997 in which leading Korean companies announced that they would act together to block the on-going attempt to takeover Midopa Department Store. Both these events abruptly ended the expectation that hostile takeovers will rise in Korea and lead to sharp price drops of the stocks of the firms deemed to be the primary targets of the first M&A wave in Korea. This paper shows that the first event affected the firms that were small and financially weak, while the second event affected the firms that held controlling shares of many subsidiary firms but are not big Chaebols.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"43 1","pages":"41-64"},"PeriodicalIF":0.0,"publicationDate":"2007-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89800570","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: 1
Gender Earning Gaps and Return to Schooling in Korea 韩国性别收入差距与重返学校教育
International journal of economic research Pub Date : 2007-05-01 DOI: 10.17256/JER.2007.12.1.005
Kwack Sung Yeung, Young Sun Lee, Heeseon Choi
{"title":"Gender Earning Gaps and Return to Schooling in Korea","authors":"Kwack Sung Yeung, Young Sun Lee, Heeseon Choi","doi":"10.17256/JER.2007.12.1.005","DOIUrl":"https://doi.org/10.17256/JER.2007.12.1.005","url":null,"abstract":"The Mincerian earnings functions are estimated using cross section and time series data for Korea during the 1993-2002 period. Male and female workers with university and higher education earn 1.8 and 2.9 times more than those with middle school and under education in 2002, respectively. Korean women earn 78 percent of the hourly rate of average Korean man and the gender gap is found to decline. The year when all workers get the highest wage rate in their working span is around 48 years old. The rate of return to schooling for all workers is found to be around 7 percent. The return for males, 6 percent, is lower than that for females, 8 percent. The rate of return of experience is estimated to be 1.1 percent. The wage premiums for senior officers and managers, and professionals are 78, and 28 percent.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"323 1","pages":"79-101"},"PeriodicalIF":0.0,"publicationDate":"2007-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82929139","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: 9
Import Quotas in the Stackelberg Trade Model 斯塔克尔伯格贸易模型中的进口配额
International journal of economic research Pub Date : 2007-05-01 DOI: 10.17256/JER.2007.12.1.002
Sanghack Lee
{"title":"Import Quotas in the Stackelberg Trade Model","authors":"Sanghack Lee","doi":"10.17256/JER.2007.12.1.002","DOIUrl":"https://doi.org/10.17256/JER.2007.12.1.002","url":null,"abstract":"This note examines the effects of import quotas in the Stackelberg duopoly model of Baye (1992) in which a home firm is a leader and a foreign firm is a follower in the home market. This note shows that import quotas can increase social welfare of the importing country, measured by the sum of consumer surplus, producer surplus and quota rents accruing to the importing country, if the quotas are set at a sufficiently high level. An increase in binding quotas is also shown to increase social welfare of the importing country if it can extract more than half of the quota rents. Quotas are also compared to tariffs. Unlike in the competitive markets, optimal quotas are shown to be more conducive to trade than optimal tariffs in the Stackelberg trade model.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"14 1","pages":"27-39"},"PeriodicalIF":0.0,"publicationDate":"2007-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80111476","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: 1
Leaving "Hotel California" : How incentives affect flows of benefits in the Netherlands 离开“加州旅馆”:激励如何影响荷兰的利益流动
International journal of economic research Pub Date : 2006-07-01 DOI: 10.3790/VJH.75.3.186
J. Ours
{"title":"Leaving \"Hotel California\" : How incentives affect flows of benefits in the Netherlands","authors":"J. Ours","doi":"10.3790/VJH.75.3.186","DOIUrl":"https://doi.org/10.3790/VJH.75.3.186","url":null,"abstract":"This paper discusses developments in the Netherlands concerning unemployment insurance, unemployment assistance and disability insurance. The emphasis is on how financial incentives for individual workers and firms affect flows of benefit recipients. The main message is that it is indeed helpful to screen workers who want to enter the benefit system, to establish counseling and monitoring of workers that are in the benefit system and to impose sanctions on workers or employers that abuse the system. The Dutch experience in reconstructing social security provides clear lessons for other countries. Dieser Beitrag untersucht die Entwicklungen und Reformen der Arbeitslosenversicherung sowie der Renten- bzw. Erwerbsunfahigkeitsversicherung in den Niederlanden. Betrachtet wird vor allem, wie die damit verbundenen Anreize fur Arbeitnehmer und Arbeitgeber die Ein- und Austritte in die Versicherungssysteme beeinflussen. Das wesentliche Ergebnis ist, dass es hilfreich ist, die Leistungsbezieher beim Eintritt zu untersuchen, vorhandene Leistungsbezieher laufend zu beraten und zu uberprufen und Missbrauch zu sanktionieren. Insoweit sind die niederlandischen Erfahrungen fur andere Lander hilfreich.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"3 1","pages":"186-207"},"PeriodicalIF":0.0,"publicationDate":"2006-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81905772","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: 1
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