D. Zdanov, M. Kuznetsov, Olga Gumilevskaya, Galina Pakhomova, T. Rogova
Russian Abstract: Настоящая работа посвящена изучению возможных методов совершенствования корпоративного управления, в первую очередь, в компаниях с государственным участием. Методика исследования основана на подходах, положенных в основу российского Кодекса корпоративного управления, и рекомендациях организации экономического сотрудничества и развития (ОЭСР). В ходе исследования определено влияние качества корпоративного управления на финансовую результативность компаний с государственным участием, и на этой основе подготовлены рекомендации по повышению эффективности управления российскими компаниями с государственным участием. В работе также сформированы предложения по совершенствованию отечественных корпоративных отношений и, в частности, предложены рекомендации по организации отбора собственниками бизнеса высших руководителей корпорации при их найме, показан механизм их работы и особенности интерпретации полученных результатов.
English Abstract: This paper is devoted to the study of possible methods of improving corporate governance, primarily in companies with state participation. The research methodology is based on the approaches underlying the Russian Code of Corporate Governance and the recommendations of the Organization for Economic Cooperation and Development (OECD). The study determined the impact of the quality of corporate governance on the financial performance of companies with state participation, and on this basis prepared recommendations for improving the efficiency of management of Russian companies with state participation. The work also formed proposals for improving domestic corporate relations and, in particular, suggested recommendations on how to organize the selection by business owners of senior executives of the corporation when they are hired, shows the mechanism of their work and features of interpretation of the results.
{"title":"Методы повышения результативности корпоративного управления и минимизации агентских издержек в системе современных российских корпоративных отношений (Methods for Increasing the Effectiveness of Corporate Governance and Minimizing Agency Costs in the System of Modern Russian Corporate Relations)","authors":"D. Zdanov, M. Kuznetsov, Olga Gumilevskaya, Galina Pakhomova, T. Rogova","doi":"10.2139/ssrn.3407905","DOIUrl":"https://doi.org/10.2139/ssrn.3407905","url":null,"abstract":"<b>Russian Abstract:</b> Настоящая работа посвящена изучению возможных методов совершенствования корпоративного управления, в первую очередь, в компаниях с государственным участием. Методика исследования основана на подходах, положенных в основу российского Кодекса корпоративного управления, и рекомендациях организации экономического сотрудничества и развития (ОЭСР). В ходе исследования определено влияние качества корпоративного управления на финансовую результативность компаний с государственным участием, и на этой основе подготовлены рекомендации по повышению эффективности управления российскими компаниями с государственным участием. В работе также сформированы предложения по совершенствованию отечественных корпоративных отношений и, в частности, предложены рекомендации по организации отбора собственниками бизнеса высших руководителей корпорации при их найме, показан механизм их работы и особенности интерпретации полученных результатов.<br><br><b>English Abstract:</b> This paper is devoted to the study of possible methods of improving corporate governance, primarily in companies with state participation. The research methodology is based on the approaches underlying the Russian Code of Corporate Governance and the recommendations of the Organization for Economic Cooperation and Development (OECD). The study determined the impact of the quality of corporate governance on the financial performance of companies with state participation, and on this basis prepared recommendations for improving the efficiency of management of Russian companies with state participation. The work also formed proposals for improving domestic corporate relations and, in particular, suggested recommendations on how to organize the selection by business owners of senior executives of the corporation when they are hired, shows the mechanism of their work and features of interpretation of the results.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"154 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123781663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Thailand is still perceived as corrupt with the latest report issued by Transparency International (Transparency International, 2017) showing that Thailand was ranked 96th (out of 180 countries) with the score of 37 (out of 100), up from 35 in the year 2016), and within the ASEAN countries, it was ranked 5th. These corruption problems are generally attributed to the work behaviors of the state officials concerned. It’s mixed methodology. Qualitative data were collected from 24 key informants in a focus group discussion and 12 experts in an in-depth interview. Quantitative data were collected from 400 LAOs staff across the northeast of the country. Results revealed that all the factors in the structural equation model were positively correlated at the significant level of 0.01. Leadership of administrators was found to have the highest direct effect on transparency of LAOs, followed by public participation, attitudes towards transparency, organizational culture, and organizational politics. Public participation was found to have the highest indirect effect. All the factors in the model could account for the transparency of LAOs by 82.70 per cent. To enhance transparency, it was recommended that administrators set a good precedent in matters pertaining to decentralization of power, clear viewpoints on anti-corruption, teamwork encouragement, compliance with rules and regulations, and more public participation in the monitoring and assessing the performance of the LAOs.
{"title":"Integrated Causal Factors For and Guidance on the Enhancement of Transparency in Local Administrative Organizations in Northeastern Thailand","authors":"Sanyasorn Swasthaisong","doi":"10.2139/ssrn.3546273","DOIUrl":"https://doi.org/10.2139/ssrn.3546273","url":null,"abstract":"Thailand is still perceived as corrupt with the latest report issued by Transparency International (Transparency International, 2017) showing that Thailand was ranked 96th (out of 180 countries) with the score of 37 (out of 100), up from 35 in the year 2016), and within the ASEAN countries, it was ranked 5th. These corruption problems are generally attributed to the work behaviors of the state officials concerned. It’s mixed methodology. Qualitative data were collected from 24 key informants in a focus group discussion and 12 experts in an in-depth interview. Quantitative data were collected from 400 LAOs staff across the northeast of the country. Results revealed that all the factors in the structural equation model were positively correlated at the significant level of 0.01. Leadership of administrators was found to have the highest direct effect on transparency of LAOs, followed by public participation, attitudes towards transparency, organizational culture, and organizational politics. Public participation was found to have the highest indirect effect. All the factors in the model could account for the transparency of LAOs by 82.70 per cent. To enhance transparency, it was recommended that administrators set a good precedent in matters pertaining to decentralization of power, clear viewpoints on anti-corruption, teamwork encouragement, compliance with rules and regulations, and more public participation in the monitoring and assessing the performance of the LAOs.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"222 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130655335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Democracy in Cambodia today has become meaningless due to the policies and actions of the ruling government. Part of this can be attributed to the hybrid nature of what was Cambodian democracy. As a hybrid democracy, western democratic elements were not completely transposed into Cambodian culture. These elements coupled with the rise of China and the exponential increase of unconditional Chinese aid and investment into Cambodia has resulted in a situation whereby the government can play a double game. It maintains a minimal façade of democracy to continue receiving western aid, while accepting an unlimited amount of Chinese aid, which is unconditional on democratic governance. As Chinese aid crowds out western aid, the remaining democratic practices in Cambodia such as political parties and elections will cease to exist entirely. This paper concludes with suggestions as to how to bolster and resuscitate democracy in Cambodia by addressing the youth, who make up more than 50% of the population.
{"title":"Unconditional Aid and ‘Hybrid Democracy’: The Case of Cambodia","authors":"H. Cohen","doi":"10.18003/AJPA.20194","DOIUrl":"https://doi.org/10.18003/AJPA.20194","url":null,"abstract":"Democracy in Cambodia today has become meaningless due to the policies and actions of the ruling government. Part of this can be attributed to the hybrid nature of what was Cambodian democracy. As a hybrid democracy, western democratic elements were not completely transposed into Cambodian culture. These elements coupled with the rise of China and the exponential increase of unconditional Chinese aid and investment into Cambodia has resulted in a situation whereby the government can play a double game. It maintains a minimal façade of democracy to continue receiving western aid, while accepting an unlimited amount of Chinese aid, which is unconditional on democratic governance. As Chinese aid crowds out western aid, the remaining democratic practices in Cambodia such as political parties and elections will cease to exist entirely. This paper concludes with suggestions as to how to bolster and resuscitate democracy in Cambodia by addressing the youth, who make up more than 50% of the population.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125466594","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The Economic and Social Council of the Republic of Bulgaria (ESC) believes that social enterprises in Bulgaria are still an untapped business model. Current social enterprises are mainly non-governmental organizations by applying the relevant legislation creating social enterprises whose business is focused on the realization of the social purpose and mission of the organization. Social enterprises in Bulgaria operate in various sectors, the most serious part are in: the delivery of social services; providing jobs for people with disabilities; mediation in finding employment of unemployed persons; provision of health services; аctivities in the field of education and others.In realizing these activities the leading is not the end product but the achieved social effect on individuals themselves expressed in obtaining the necessary support to integrate into society. In this sense, there are three basic models of social enterprises:The most common model is the one that creates jobs and develops the workforce. By business jobs are created primarily for people with disabilities. Most often the social enterprise is the employer of people with disabilities in order to achieve the integration of persons with disabilities in the labor market and create conditions for a better life.Another popular model of a social enterprise is the one in which the enterprise produces goods and seeks markets, also engaging with their distribution. Most often social enterprises involve persons with disabilities in the form of occupational therapy involved in the production of certain goods. Existing social enterprises in Bulgaria within this model are engaged in the manufacture of certain products by persons who are unemployed or socially excluded. The aim is to enable them to work and improve their social inclusion.The third existing model in Bulgaria is related to the provision of social services generally through payment of external customers, while social enterprise provides social services to its members. Payment is under contract with the state or a municipality. Within this model, services are provided to different users paid directly to social enterprise for direct service.
{"title":"Social Enterprises and Their Impact in Bulgaria","authors":"V. Terziev, Nikolay Nichev, M. Georgiev","doi":"10.35120/KIJ30061645T","DOIUrl":"https://doi.org/10.35120/KIJ30061645T","url":null,"abstract":"The Economic and Social Council of the Republic of Bulgaria (ESC) believes that social enterprises in Bulgaria are still an untapped business model. Current social enterprises are mainly non-governmental organizations by applying the relevant legislation creating social enterprises whose business is focused on the realization of the social purpose and mission of the organization. Social enterprises in Bulgaria operate in various sectors, the most serious part are in: the delivery of social services; providing jobs for people with disabilities; mediation in finding employment of unemployed persons; provision of health services; аctivities in the field of education and others.In realizing these activities the leading is not the end product but the achieved social effect on individuals themselves expressed in obtaining the necessary support to integrate into society. In this sense, there are three basic models of social enterprises:The most common model is the one that creates jobs and develops the workforce. By business jobs are created primarily for people with disabilities. Most often the social enterprise is the employer of people with disabilities in order to achieve the integration of persons with disabilities in the labor market and create conditions for a better life.Another popular model of a social enterprise is the one in which the enterprise produces goods and seeks markets, also engaging with their distribution. Most often social enterprises involve persons with disabilities in the form of occupational therapy involved in the production of certain goods. Existing social enterprises in Bulgaria within this model are engaged in the manufacture of certain products by persons who are unemployed or socially excluded. The aim is to enable them to work and improve their social inclusion.The third existing model in Bulgaria is related to the provision of social services generally through payment of external customers, while social enterprise provides social services to its members. Payment is under contract with the state or a municipality. Within this model, services are provided to different users paid directly to social enterprise for direct service.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125703918","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Russian Abstract: анализируется практика противодействия принятию решения об объявлении дивидендов с целью сохранения права голоса по привилегированным акциям, что позволяет установить корпоративный контроль над обществом.
analiziruyetsya praktika protivodeystviya prinyatiyu resheniya ob ob"yavlenii dividendov s tsel'yu sokhraneniya prava golosa po privilegirovannym aktsiyam, chto pozvolyayet ustanovit' korporativnyy kontrol' nad obshchestvom. 205/5000
English Abstract: It analyzes the practice of counteracting the decision to declare dividends in order to maintain voting rights on preferred shares, which allows establishing corporate control over the company.
俄文摘要：本文分析了为保留优先股表决权而抵消宣布股息决定的做法，这样可以建立公司对公司的控制权。Analiziruyetsya praktika protivodeystviya prinyatiyu prinyatiyu resheniya ob ob "yavlenii dividendov s tsel'yu sokhraneniya prava golosa po privilegirovannym aktsiyam, chto pozvolyayet ustanovit' korporativnyy kontrol' nad obshchestvom.205/本文分析了为保持优先股投票权而抵消宣布股息决定的做法，这种做法可以建立公司对公司的控制权。
{"title":"ПРОТИВОДЕЙСТВИЕ ПРИНЯТИЮ РЕШЕНИЯ ОБ ОБЪЯВЛЕНИИ ДИВИДЕНДОВ КАК СРЕДСТВО БОРЬБЫ ЗА КОРПОРАТИВНЫЙ КОНТРОЛЬ (Countering the Decision on the Declaration of Dividends as a Means of Fight for Corporate Control)","authors":"Andrei Glushetskiy","doi":"10.2139/ssrn.3477552","DOIUrl":"https://doi.org/10.2139/ssrn.3477552","url":null,"abstract":"<b>Russian Abstract:</b> анализируется практика противодействия принятию решения об объявлении дивидендов с целью сохранения права голоса по привилегированным акциям, что позволяет установить корпоративный контроль над обществом.<br><br>analiziruyetsya praktika protivodeystviya prinyatiyu resheniya ob ob\"yavlenii dividendov s tsel'yu sokhraneniya prava golosa po privilegirovannym aktsiyam, chto pozvolyayet ustanovit' korporativnyy kontrol' nad obshchestvom.<br>205/5000<br><br><b>English Abstract:</b> It analyzes the practice of counteracting the decision to declare dividends in order to maintain voting rights on preferred shares, which allows establishing corporate control over the company.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130030644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
As companies adapt to the digital era, fundamental changes happen to their internal processes, and consequently to their structure. In this piece, we build an integrated and unified picture on how digital transformation affects organization design, by classifying and analyzing the effect on the sequence of output creation in firms. Moreover, we briefly discuss how these effects impact firm boundaries and scale up to shape competition among industry players. Finally, we list potential opportunities and challenges for companies in the digital transformation period.
{"title":"Digital Transformation and Organization Design – A Complex Relationship","authors":"Pooyan Khashabi, T. Kretschmer","doi":"10.2139/ssrn.3437334","DOIUrl":"https://doi.org/10.2139/ssrn.3437334","url":null,"abstract":"As companies adapt to the digital era, fundamental changes happen to their internal processes, and consequently to their structure. In this piece, we build an integrated and unified picture on how digital transformation affects organization design, by classifying and analyzing the effect on the sequence of output creation in firms. Moreover, we briefly discuss how these effects impact firm boundaries and scale up to shape competition among industry players. Finally, we list potential opportunities and challenges for companies in the digital transformation period.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131895460","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In many matching environments, agreements are multilateral and/or have externalities. We show that stability in these environments depends on agents' aggregate choice behavior. Two different conditions on aggregate choice ensure a stable outcome exists. One applies when contracts are substitutes; the other ensures a unique stable outcome even without substitutability. Our results apply matching-theoretic techniques to environments where agents' interactions cannot be described by independent bilateral agreements, and also accommodate markets without a two-sided or supply chain structure. Our equivalent characterization of stability also makes computing stable outcomes easier, even in environments outside the scope of our existence results.
{"title":"Matching with Multilateral Contracts","authors":"M. Rostek, Nathan Yoder","doi":"10.2139/ssrn.2997223","DOIUrl":"https://doi.org/10.2139/ssrn.2997223","url":null,"abstract":"In many matching environments, agreements are multilateral and/or have externalities. We show that stability in these environments depends on agents' aggregate choice behavior. Two different conditions on aggregate choice ensure a stable outcome exists. One applies when contracts are substitutes; the other ensures a unique stable outcome even without substitutability. Our results apply matching-theoretic techniques to environments where agents' interactions cannot be described by independent bilateral agreements, and also accommodate markets without a two-sided or supply chain structure. Our equivalent characterization of stability also makes computing stable outcomes easier, even in environments outside the scope of our existence results.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"232 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132813817","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Awqāf are undergoing a process of rebirth in Pakistan. Public awqāf are strictly regulated by the State in Pakistan because of their entrenchment with the politics of pirs (spiritual guides). While private awqāf, though relatively lightly regulated, are economically inefficient because of the doctrine of perpetuity. Therefore, most philanthropic activities in contemporary Pakistan take place in the form of various English law institutions such as registered societies, trusts, and not-for-profit corporations. Still, a large number of awqāf properties exists not only as symbols of past practices but religious institutions such as mosques, religious schools (madaris), shrines (dargahs), and graveyards (janazagahs) continue to be established as awqāf. During the post-colonial period in Pakistan, awqāf have also attracted attention for revival for poverty alleviation as part of microfinance. Several initiatives have been taken to develop endowment funds based on waqf model to provide enterprising poor access to finance. This paper explores the current practice of awqāf in Pakistan within its stringent regulatory regime for awqāf. The focus of this paper is on Hamdard Waqf and Ihsan Waqf which present innovative use of the traditional structure of waqf to provide various charitable and welfare services.
{"title":"Waqf in Pakistan: Rebirth of a Traditional Institution","authors":"Z. Abbasi","doi":"10.2139/ssrn.3327092","DOIUrl":"https://doi.org/10.2139/ssrn.3327092","url":null,"abstract":"Awqāf are undergoing a process of rebirth in Pakistan. Public awqāf are strictly regulated by the State in Pakistan because of their entrenchment with the politics of pirs (spiritual guides). While private awqāf, though relatively lightly regulated, are economically inefficient because of the doctrine of perpetuity. Therefore, most philanthropic activities in contemporary Pakistan take place in the form of various English law institutions such as registered societies, trusts, and not-for-profit corporations. Still, a large number of awqāf properties exists not only as symbols of past practices but religious institutions such as mosques, religious schools (madaris), shrines (dargahs), and graveyards (janazagahs) continue to be established as awqāf. During the post-colonial period in Pakistan, awqāf have also attracted attention for revival for poverty alleviation as part of microfinance. Several initiatives have been taken to develop endowment funds based on waqf model to provide enterprising poor access to finance. This paper explores the current practice of awqāf in Pakistan within its stringent regulatory regime for awqāf. The focus of this paper is on Hamdard Waqf and Ihsan Waqf which present innovative use of the traditional structure of waqf to provide various charitable and welfare services.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124379499","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
While privatization of state-owned enterprises (SOEs) remains a popular policy tool in many countries, the impacts on workers are unclear. This paper studies the case of Brazil, which implemented a large privatization program in the 1990s. Following privatization, incumbent workers in privatized SOEs suffer a wage decline of roughly 25 percent relative to a matched control group. Additionally, private sector firms that are connected to privatized SOEs by labor mobility also reduce wages. A summary calculation suggests that privatization decreased the formal sector wage by 3 percent, with about two-thirds of this effect due to the indirect impact on private sector workers. (JEL J31, J62, L32, L33, O14, O15)
{"title":"The Impact of Privatization of State-Owned Enterprises on Workers","authors":"David Arnold","doi":"10.2139/ssrn.3278753","DOIUrl":"https://doi.org/10.2139/ssrn.3278753","url":null,"abstract":"While privatization of state-owned enterprises (SOEs) remains a popular policy tool in many countries, the impacts on workers are unclear. This paper studies the case of Brazil, which implemented a large privatization program in the 1990s. Following privatization, incumbent workers in privatized SOEs suffer a wage decline of roughly 25 percent relative to a matched control group. Additionally, private sector firms that are connected to privatized SOEs by labor mobility also reduce wages. A summary calculation suggests that privatization decreased the formal sector wage by 3 percent, with about two-thirds of this effect due to the indirect impact on private sector workers. (JEL J31, J62, L32, L33, O14, O15)","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"84 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122964299","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper presents some basic principles for conducting the antitrust analysis of multisided platforms that courts could adapt to the particulars of their jurisdictions and case laws. It has a particular focus on measuring consumer surplus for platform businesses and the implications of that for the design of antitrust rules. It shows how multisided platforms increase welfare by reducing transactions costs and resolving externalities among economic agents. Its presents three normative principles for policy interventions and illustrates these principles by showing how they apply to recent debates over privacy. The paper then develops a framework for considering antitrust rules in light of these principles given the objectives of antitrust law, error costs, and developing administrable rules. It lastly considers the competing approaches to analyzing multisided platforms that were presented to the Supreme Court in the American Express litigation and the Court’s decision in light of these principles.
{"title":"Essential Principles for the Design of Antitrust Analysis for Multisided Platforms","authors":"David S. Evans","doi":"10.2139/ssrn.3261812","DOIUrl":"https://doi.org/10.2139/ssrn.3261812","url":null,"abstract":"This paper presents some basic principles for conducting the antitrust analysis of multisided platforms that courts could adapt to the particulars of their jurisdictions and case laws. It has a particular focus on measuring consumer surplus for platform businesses and the implications of that for the design of antitrust rules. It shows how multisided platforms increase welfare by reducing transactions costs and resolving externalities among economic agents. Its presents three normative principles for policy interventions and illustrates these principles by showing how they apply to recent debates over privacy. The paper then develops a framework for considering antitrust rules in light of these principles given the objectives of antitrust law, error costs, and developing administrable rules. It lastly considers the competing approaches to analyzing multisided platforms that were presented to the Supreme Court in the American Express litigation and the Court’s decision in light of these principles.","PeriodicalId":112052,"journal":{"name":"Organizations & Markets: Formal & Informal Structures eJournal","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117317213","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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