Product recall data and information on stock price reactions to recalls are used estimate the value of reputation in a model which product quality is not contractible. A result defect that signals low effort. The triggers reduction firm’s value, then both rise steadily until its next occurs. We accounts for 8.3 percent firm welfare 26 first best level. policy intervention attains tax accompanie...

Serial correlation in annual growth rates carries a lot of information on growth processes – it allows us to directly observe firm performance as well as to test theories. Using a 7-year balanced panel of 10 000 French manufacturing firms, we observe that small firms typically are subject to negative correlation of annual growth rates, whereas larger firms display positive correlation. Furtherm...

We consider partnerships among risk-averse professionals endowed with (i) a risky and personally-costly production technology and (ii) a personallycostly monitoring technology providing contractible noisy signals about partners’productive e¤orts. Partners shirk both production and monitoring tasks because e¤orts are unobservable. We charaterize optimal partnership size, pro…t shares and incenti...

In the standard framework of data envelopment analysis (DEA) models, the returns to scale are fully characterized using the multiplier on the convexity constraint of inefficient decision making units (DMU) using the projection of the input-output vector on the frontier. In this note, we investigate how the returns to scale measurements in DEA models are affected by the presence of regulatory co...

Female Hires and the Success of Start-up Firms In this paper we investigate the relationship between females among the first hires of start-up companies and business success. Our results show that firms with female first hires have a higher share of female workers at the end of the first year after entry. Further, we find that firms with female first hires are more successful and stay longer in...

The aim of this paper is to study both the private and the social desirability of a mixed bundling strategy that generates a cost savings effect. We confirm that mixed bundling is the dominant strategy for multiproduct firms, although it may give rise to a prisoner’s dilemma. Moreover, we show that mixed bundling may maximise social welfare, provided that cost savings are sufficiently high. Fin...

We describe the polymorphic order-disorder transition in the chalcopyrite-type semiconductor Cuo. slnosSe through a Monte Carlo simulation of a generalized Ising Hamiltonian whose interaction energies are determined from ab initio total-energy calculations. The calculated transition temperature (T, =1 l25+'20 K) compares well with experiment (T, =1083 K). Unlike the analogous ordering in isoval...