| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3540 |
| DP3540 Dynamic General Equilibrium Analysis: The Open Economy Dimension | |
| Philip Lane; Giovanni Ganelli | |
| 发表日期 | 2002-09-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | This Paper develops a model of the competition among states in providing corporate law rules. The analysis provides a full characterization of the equilibrium in this market. Competition among states is shown to produce optimal rules with respect to issues that do not have a substantial effect on managers? private benefits but not with respect to issues (such as takeover regulation) that substantially affect these private benefits. We analyse why a dominant state such as Delaware can emerge, the prices that the dominant state will set and the profits it will make. We also analyse the roles played by legal infrastructure, network externalities, and the rules governing incorporations. The results of the model are consistent with, and can explain, existing empirical evidence; they also indicate that the performance of state competition cannot be evaluated on the basis of how incorporation in Delaware in the prevailing market equilibrium affects shareholder wealth. |
| 主题 | Financial Economics |
| 关键词 | Network externalities Private benefits of control Delaware Regulatory competition Shareholders Corporate law |
| URL | https://cepr.org/publications/dp3540 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532549 |
| 推荐引用方式 GB/T 7714 | Philip Lane,Giovanni Ganelli. DP3540 Dynamic General Equilibrium Analysis: The Open Economy Dimension. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
| 个性服务 |
| 推荐该条目 |
| 保存到收藏夹 |
| 导出为Endnote文件 |
| 谷歌学术 |
| 谷歌学术中相似的文章 |
| [Philip Lane]的文章 |
| [Giovanni Ganelli]的文章 |
| 百度学术 |
| 百度学术中相似的文章 |
| [Philip Lane]的文章 |
| [Giovanni Ganelli]的文章 |
| 必应学术 |
| 必应学术中相似的文章 |
| [Philip Lane]的文章 |
| [Giovanni Ganelli]的文章 |
| 相关权益政策 |
| 暂无数据 |
| 收藏/分享 |
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
