Competition

Working Paper

The Stability of Dividends and Wages: Effects of Competitor Inflexibility

We analyze how risk sharing between a firm’s employees and owners depends on its competitors’ response to industry-wide shocks. Focusing on the electricity industry, we obtain a sample of firms with exposure to similar industry risks but...Read more

Daniel A. Rettl
Alex Stomper
Josef Zechner
14 June 2018

The Disappearing Taboo of Multiple Voting Shares: Regulatory Responses to the Migration of Chrysler-Fiat

In 2014, the Italian Government broke an old taboo of Italian corporate law, joining the ranks of many different legal systems that allow the issuance of multiple voting shares (MVSs), including the United States. The importance of the reform is...Read more

Marco Ventoruzzo
01 March 2015

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