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on Heterodox Microeconomics |
| By: | Samantas, Ioannis |
| Abstract: | This paper constitutes a new endeavor of investigating competitive conditions in European banking. Since the vast literature of competition modeling has produced mixed results, the proposed methodology goes one step further in order to investigate the intensity of key effects on bank competition as decomposed into specific bank activities. The sample comprises nine of the most developed banking markets in the European region during the period 2002-2010. The concluding remarks over the explanatory power of traditional collusion, relative market power and efficiency alongside other key controls on bank pricing conduct, provide considerable policy implications. |
| Keywords: | Competition; Banking income, Collusion, Market power, Cost efficiency |
| JEL: | D4 D57 G21 L11 L21 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:51098&r=hme |
| By: | Paul Peigné (GRANEM - Groupe de Recherche Angevin en Economie et Management - Université d'Angers) |
| Abstract: | In their quest for deeper insight into organizations, for some years now a great deal of researchers have focused on the concept of routines. Routines enable researchers to make out some of the dynamics which govern the organization, by fostering stability or , on the contrary, favoring development and change. The present paper proposes a case study which will enable us to portray two sets of routines whose dynamic and effects prove worthy of consideration. In fact, an exogenous event compels an organization to change its aims and its habits. This change triggers a break in the albeit proven set of routines within the organization. Those of the executive managers adapt themselves to new objectives without adopting the mindset, whereas most operatives become the symbol of resistance to change so plunging themselves into uncertainty, jeopardizing their identity and the meaning of their everyday situation. By means of this case, we underline how desires for openness, exchange and dialogue meant to nurture the conditions of change get bogged down, sabotaged and become useless in the daily interplay of force and opposition that the project itself engenders. Finally we will underline how this dynamic also produces effects as much upon the individuals exposed to the paradoxes that it induces as upon the organization whose coherence and integrity is gradually being whittled away. |
| Keywords: | Organizational dynamics; organizational change; evolutionary economics; routines, job stress. |
| Date: | 2013–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00876163&r=hme |
| By: | Mehrpouya, Afshin |
| Abstract: | Actors at the boundary of two or more fields undertake work to stabilize, coordinate across or breach the field’s boundary. Meaning work is a key category of boundary work, which involves aintaining or changing of field-level meanings. Mobilizing institutional analysis of field level change processes and the social movement framing literature, this study conceptualizes the types of meaning work that boundary actors undertake in a field undergoing “mainstreaming”. Mainstreaming in this paper is defined as a process whereby a social movement succeeds in diffusing its norms, values or practices across the wider incumbent field. During the past few decades, socially responsible investment (SRI) has shifted from being a marginal, religious, US-based movement to an influential international movement, which has succeeded in mobilizing a large number of incumbent investors and financial organizations. Based on a multi-stage qualitative analysis of the SRI field during the past 50 years, this study first establishes the structural changes that define a field undergoing mainstreaming. It then introduces four propositions regarding links between these field-level changes and the meaning work that actors at the boundary between a social movement and the incumbent field undertake. |
| Keywords: | meaning work; boundary; institutions; social movements; framing; socially responsible investment |
| JEL: | A14 Z13 |
| Date: | 2013–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:0962&r=hme |
| By: | Kurt A. Desender; Mircea Epure |
| Abstract: | By integrating the agency and stakeholder perspectives, this study aims to provide a systematic understanding of the firm- and institutional-level corporate governance factors that affect corporate social performance (CSP). We analyze a large global panel dataset and reveal that CSP is positively associated with board independence, but negatively with ownership concentration. These results underscore the idea that the benefits of CSP do not flow to shareholders to the same extent as the costs and that the allocation of resources to CSP is lower when shareholders are powerful. Furthermore, these findings indicate that independent directors should be understood as agents in their own right, not only focused on defending shareholder interests. We also find that CSP is negatively related to investor protection and shareholder-oriented environments, while it is positively related to egalitarian environments. Finally, we jointly analyze firm-level drivers and institutional contexts. |
| Keywords: | corporate social performance, corporate governance, agency theory, stakeholder theory |
| JEL: | A13 G3 M0 M1 M14 M4 M41 |
| Date: | 2013–10 |
| URL: | http://d.repec.org/n?u=RePEc:bge:wpaper:730&r=hme |
| By: | Svetlana Avdasheva (1National Research University Higher School of Economics. Institute for Industrial and Market Studies. Deputy Director;); Polina Kryuchkova (2National Research University Higher School of Economics. Institute for Industrial and Market Studies, Laboratory of Competition and Antimonopoly Policy. Leading Research Fellow;) |
| Abstract: | Law enforcement by regulatory authorities on complaints may replicate not only advantages but also disadvantages of both public and private enforcement. In Russian antitrust enforcement there are strong incentives to open investigations on almost every complaint. The increasing number of complaints and investigations decreases both the resources available per investigation and the standards of proof. It also distorts the structure of enforcement, increases the probability of both wrongful convictions and wrongful acquittals, and lowers deterrence. Statistics of antitrust enforcement in the Russian Federation, including Russian regions, highlight the importance of complaints for making decisions on whether to open investigations and the positive dependence of convictions on the number of investigations |
| Keywords: | antitrust, Russia, public enforcement, complaints, legal errors. |
| JEL: | K21 K42 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:hig:wpaper:05/pa/2013&r=hme |
| By: | Mary T. Kelly (Department of Economics, Villanova University); John S. Ying (Department of Economics, University of Delaware) |
| Abstract: | Regulation of the cable television industry was marked by remarkable periods of deregulation, re-regulation, and re-deregulation during the 1980s and 1990s. Using FCC firm-level survey data spanning 1993 to 2001, we model and econometrically estimate the effect of regulation and competition on cable rates. Our calculations indicate that while regulation lowered rates for small system operators, it raised them for medium and large systems. Meanwhile, competition consistently decreased rates from 5.6 to 8.8 percent, with even larger declines during periods of regulation. Our results suggest that competition is more effective than regulation in containing cable prices. |
| Keywords: | cable rates; regulation; competition. |
| JEL: | L50 L51 L96 L97 L98 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:dlw:wpaper:13-06.&r=hme |
| By: | Cornelissen, J. P.; Durand, Rodolp |
| Abstract: | How do we, as management researchers, develop novel theoretical contributions, and potentially break new ground, in management studies? To address this question, we review previous methodological work on theorizing and advance a typology of the reasoning processes that underlie theoretical contributions and significant advances in management studies. This typology consist of various types of analogical and counterfactual reasoning that range from focused thought experiments aimed at prodding existing theory in the direction of alternative assumptions, constructs and hypotheses to more expansive efforts around inducing new theoretical models and alternative explanations. With this typology we detail the mechanisms behind the formation of novel theoretical contributions and we illustrate the currency of our typology with a review of twenty-four major theoretical breakthroughs in management studies. We conclude the paper with a discussion of the implications of this typology for our collective efforts in building, elaborating and expanding theory in management studies. |
| Keywords: | research methods; management studies; review |
| JEL: | M00 |
| Date: | 2013–08–26 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:0998&r=hme |
| By: | Serena Fatica |
| Abstract: | The working paper investigates the impacts of corporate taxes on the accumulation of different types of capital assets. The paper analyses the effect of corporate taxes on new investment in different types of capital assets in the manufacturing industries of 11 advanced economies over the period 1991-2007. The magnitude of the asset substitution elasticities points to a significant inter-asset distortionary effect induced by differences in the tax-adjusted user cost of capital. Overall, differential taxation leads on average to under-investment in ICT capital and to over-investment in other machinery and equipment compared to a counterfactual benchmark where marginal tax rates are equalized across assets. Once cross-country heterogeneity in corporate taxation is accounted for, the results are more mixed, in terms of both the size and the direction of the distortions. On average, 4 percent of the aggregate capital stock appears misallocated. |
| Date: | 2013–09 |
| URL: | http://d.repec.org/n?u=RePEc:euf:ecopap:0503&r=hme |
| By: | Chanson, Guillaume; Quélin , Bertrand V. |
| Abstract: | This paper is devoted to the pattern of activity within large companies, through the two criteria of decentralization and contracting out. Our goal is to understand whether the determinants are identical for both internal and external boundaries of the firm. One literature stream contributes to the analysis of the internal structure and organization of divisional companies, studying the functions assigned to headquarters or divisions. Another part of the literature has focused on the boundaries of the firm issues and the firm’s core activities. Few works are at the junction of these two traditions. This study builds on an empirical study dedicated to the book publishing industry. Our analysis leads to discuss determinants of internal and external borders. We show that functions or activities with high potential of economies of scale are mainly centralized and internalized. On reverse, those related to core business and non-programmable functions are mostly at divisional level and contracted out. |
| Keywords: | Boundaries of the firm; Centralization; Contracting out; Central services |
| JEL: | G00 |
| Date: | 2013–02–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:0990&r=hme |