کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
7355855 | 1478045 | 2018 | 17 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
WHEN DO FIRMS LEAVE CARTELS? DETERMINANTS AND THE IMPACT ON CARTEL SURVIVAL
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
We use a dataset of 615 firms which participated in 114 illegal cartels - convicted by the European Commission between 1999 and 2016 - to investigate the determinants of the duration of a firm's participation in a cartel. Applying a piecewise-constant exponential proportional hazard model with a particular focus on the impact of internal and external time-varying determinants, we find that firms show a higher probability to leave a cartel if prior exits occurred as well as in periods of high demand growth. However, we find a lower exit probability in situations of prior entries to the cartel or in periods of high interest rates. Additional estimations at the cartel level further suggest that firm exits increase the probability of a cartel breakdown substantially.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Review of Law and Economics - Volume 54, June 2018, Pages 68-84
Journal: International Review of Law and Economics - Volume 54, June 2018, Pages 68-84
نویسندگان
Michael Hellwig, Kai Hüschelrath,