Author: Giancarlo SpagnoloPublisher:
ISBN:
Category : Corporate debt
Languages : en
Pages : 47
Book Description
Debt as a (credible) Collusive Device, Or: "everybody Happy But the Consumer"
Author: Giancarlo SpagnoloPublisher:
ISBN:
Category : Corporate debt
Languages : en
Pages : 47
Book Description
The Interaction Between Competition Law and Corporate Governance
Author: Florence ThépotPublisher: Cambridge University Press
ISBN: 1108422497
Category : Business & Economics
Languages : en
Pages : 317
Book Description
This book explores the interaction between competition law and corporate governance. It will appeal to an audience of lawyers and non-lawyer competition professionals in the US, UK, and EU, as well as other jurisdictions with competition law regimes.
Criminalization of Competition Law Enforcement
Author: K. J. CseresPublisher: Edward Elgar Publishing
ISBN: 184720290X
Category : Law
Languages : en
Pages : 369
Book Description
This timely book brings together contributions from prominent scholars and practitioners to the ongoing debate on the criminalization of competition law enforcement. Recognizing that existing remedies and sanctions may be insufficient to deter breaches of competition law, several EU Member States have followed the US example and introduced pecuniary penalties for executives, professional disqualification orders, and even jail sentences. Addressing issues such as unsolved legal puzzles, standard of proof, leniency programs and internal cartel stability, this book is a marker for future policy debate. With perspectives from an international cast of contributors, Criminalization of Competition Law Enforcement will be of great interest to academics and policy makers as well as students and practitioners in law.
The Quarterly Review of Economics and Finance
Author: The NAMEA as Validation Instrument for Environmental Macroeconomics
Author: Mark de HaanPublisher:
ISBN:
Category : Environmental policy
Languages : en
Pages : 32
Book Description
Debt as a (Credible) Collusive Device
Author: Giancarlo SpagnoloPublisher:
ISBN:
Category :
Languages : en
Pages : 48
Book Description
The paper presents a theory of the anti-competitive effects of debt finance based on the interaction between capital structure, managerial incentives, and firms' ability to sustain collusive agreements. It shows that shareholders' commitments that reduce conflicts with debtholders - such as hiring managers with valuable reputations or quot;conservativequot; incentives - besides reducing the agency costs of debt finance also greatly facilitate tacit collusion in product markets. Concentrated or collusive credit markets, interlinked banking groups, or simply large banks can ensure the credibility of such commitments (renegotiation-proofness), thereby quot;exportingquot; collusion through leverage in otherwise competitive downstream product markets. The results appear relevant to the debate on the relative efficiency of quot;Anglo-Saxonquot; vs. quot;Continental-Japanesequot; financial practices. Implications for competition policy in the credit market and the regulation of the banking industry are discussed.
Tijdschrift Voor Economie en Management
Author: Green Accounting and Material Flow Analysis
Author: Peter BartelmusPublisher:
ISBN:
Category : Environmental policy
Languages : en
Pages : 44
Book Description
Towards a Typology of "Environmentally-Adjusted" National Sustainability Indicators
Author: Martin O'ConnorPublisher:
ISBN:
Category : Environmental policy
Languages : en
Pages : 36
Book Description
Towards an Environmental Accounting Framework for the EU
Author: Anton SteurerPublisher:
ISBN:
Category : Environmental policy
Languages : en
Pages : 28
Book Description