War And The Business Corporation

http://deepblue.lib.umich.edu/bitstream/2027.42/39811/3/wp427.pd

PRICING TO MARKET BEHAVIOR IN OLIGOPOLISTIC COMPETITION: A MICROECONOMETRIC APPROACH

This paper takes into account the presence of oligopolistic rivalry between exporters to evaluate their pricing to market behavior. We specify the pricing policy as a simultaneous equation model, which captures the effects of possible interactions in multiple destination markets. The use of information related to multiple transactions helps to alleviate the cost measurement problem found in the typical analyses on prices and exchange rates. Furthermore, the exogenous variations of the exporters' exchange rate vis-à-vis the currency of each destination market will enable us to identify the reaction functions. The empirical approach is applied to the European ceramic tiles industry, where Italian and Spanish exporters compete. Prices are strategic complements and the markup adjustments, caused directly by exchange rate variations, are amplified by the feedback effects on rival's prices. En este trabajo consideramos la presencia de rivalidad oligopolística entre exportadorescon objeto de evaluar la presencia de "pricing to market". Especificamos la política deprecios mediante un modelo de ecuaciones simultáneas que recoge los efectos de lasposibles interacciones existentes en múltiples mercados de destino de las exportaciones.El problema de estimación de costes, típico en el análisis de precios y tipos de cambio,se resuelve mediante el uso de información relativa a múltiples transacciones. Por otraparte, las variaciones exógenas del tipo de cambio de la moneda de los exportadoresfrente a la de cada mercado de destino permitirá identificar las funciones de reacción.La aproximación empírica obtenida se aplica a la industria europea de pavimentos yrevestimientos cerámicos en la que los exportadores españoles y italianos compiten. Losresultados indican que los precios actúan como complementarios estratégicos y que losajustes de márgenes de beneficio, causados directamente por las variaciones en los tiposde cambio, son amplificados por la retroalimentación existente sobre los precios de losrivales.tipos de cambio; funciones de reacción; "Pricing to market" Exchange rates; Reaction functions; Pricing to market

TESTING COLLUSIVE PRICES IN A MULTIMARKET CONTEXT: THE EUROPEAN CASE OF VITAMIN C

In this paper, we suggest a method to test price-fixing agreements. Prices fixed to multiple shipments are decomposed into a set of destination market effects and time effects in order to allow us to perform an analysis of residuals. We examine the pricing behavior of vitamin C in the European destination markets of German exports. We explore two different periods: January 1991 to August 1995 and September 1995 to September 2001. Empirical results on the first period, which are consistent with our knowledge obtained from firms¿ confessions about illegal agreements, contrast notably with those obtained on the more recent period. En este trabajo proponemos un método para contrastar la presencia de prácticas no competitivas en precios. Cada uno de los precios fijados para diferentes mercados es descompuesto en un efecto fijo por destino y un efecto temporal con objeto de analizar los residuos. Los precios de la vitamina C en los mercados de destino de las exportaciones alemanas son examinados en dos periodos: de enero de 1991 a agosto de 1995 y de septiembre de 1995 a septiembre de 2001. Los resultados para el primer periodo, los cuales son consistentes con nuestro conocimiento obtenido de las confesiones de las empresas participantes en los acuerdos ilegales, contrastan notablemente con los obtenidos para un período más reciente.Colusión; Mercados internacionales; Vitamina C Collusion; International markets; Vitamin C

Anotaciones sobre la conformación del patrimonio de don José de Castellví, marqués de Villatorcas (1653-1722)

En estas páginas presentamos unos apuntes sobre el proceso de conformación y consolidación del patrimonio de don José de Castellví, marqués de Villatorcas. A tal fin, rastreamos los mecanismos de transmisión de los bienes de sus antepasados, indagamos en las adquisiciones personales y profundizamos en el inventario de los bienes que a su muerte en 1722 se conservaban en Valencia. (A

Las bibliotecas del conde de Anna y marqués de Sot (1692)

La colección de libros que reunió don Antonio Fernando Pujades, conde de Anna y marqués de Sot - que el inventario de bienes libres realizado a su muerte nos permite conocer- descubre su dimensión intelectual. Distribuida entre sus casas de Valencia y Anna conformó dos interesantes bibliotecas cuyo análisis - por encima de su valor simbólico como elemento de apariencia y ostentación que conllevaba el hecho de ser noble y parecerlo- nos permite profundizar en sus supuestas preferencias lectoras y contribuir al mejor conocimiento de las inquietudes culturales de la nobleza valenciana de finales del siglo XVII. The collection of books which don Antonio Fernando Pujades brought together, Count of Anna and Marquis of Sot - which the inventory of free goods made at his death enables us to know- reveals his intellectual dimension. Distributed between his houses in Valencia and Anna it made up two interesting libraries whose analysis - over and above its symbolic value as an element of semblance and ostentation which the fact of being a noble and appearing to be one entailed - enables us to study in depth his supposed reading preferences and contribute to better understanding of the cultural pursuits of the Valencian nobility at the end of 17th century

Opacity in International Legal Texts: Generic Trait or Symbol of Power?

Due to this international character of English, texts in this language –as proffered by several major institutions in the area of public and private law− are deployed as necessary tools of communication in the course of the establishment of transnational commercial and juridical relationships. However, English as the language of the law has been branded as a complex, opaque, kind of discourse. The aim of the present paper is to address the question of the undeniable complexity of legal texts in English as instruments to wield power, their unveiled communicative aim being to separate the ruler from the citizen and the legal message from its user. To demonstrate the validity of such thesis, genre analysis has been applied to three paradigmatic texts, consequential to develop international deals in the transnational contexts: the insurance policies of the London Institute of Underwriters at Lloyd’s, the Rules issued by the London Court of international Arbitration and the Geneva Convention on the Contract for the International Carriage of Goods by Road (CMR). The goal of our study will be carried out through different levels to discern whether there exists any possible equation between power and textual complexity: the formal and discursive level, which will scrutinize lexicon, syntax and textual elements (macrostructure of texts and metadiscourse markers) and the pragmatic level, which will study the texts as peculiar generic types of legal agreements where power and commitment between the parties as a set of directives, i.e. obligations exerted by a powerful party over another, the recipient of the text

Comprenent els forats negres

Comprenent els forats negre

(Re)Considerant els neandertals

(Re)Considerant els neandertal