In bisherigen Untersuchungen der Auswirkungen aktienkursorientierter Management-Entlohnung auf den Preiswettbewerb wurden Nachfrageschwankungen nicht berücksichtigt. Der vorliegende Beitrag zeigt, dass Manager auch dann ...

This paper analyzes the effect of cooperation in manufacturing on firms' inclination to collude in the market. Compared to non-cooperation in manufacturing, coordination of the investments in production yields a higher ...

This paper analyzes endogenous merger formation in oligopolistic markets where firms have different unit production costs. We reformulate the merger model, introduced by Barros (1998), by employing the core as cooperative ...

This paper shows that obligations from debt hinder tacit collusion if equity owners are protected by limited liability. In contrast to its advantageous commitment value in short-run competition, leverage reduces profits ...