We quantify the effects of financial regulation in an equilibrium model with delegated portfolio management. Fund managers trade stocks and bonds in an orderdriven market, subject to transaction taxes and constraints on short-selling and leverage. Results are obtained on the equilibrium properties of portfolio choice, trading activity, market quality and price dynamics under the different regul...

Mandated Severance Pay and Firing Cost Distortions: A Critical Review of the Evidence Severance pay mandates are an appealing job displacement insurance strategy in developing countries, which have only modest government administrative capacities, but they carry the threat of adverse indirect effects. A critical review of the empirical literature reveals that severance benefit mandates, unaccom...

By exploring the origins and literal translations of “direct selling”, “multi-level marketing”, and “pyramid scheme” and analyzing the principles of laws, the principles of market economy, and the relationship between laws and regulations and market principles, this thesis concludes the positive meanings and the unscientific points of Regulation on Administration of Direct Sales & Regulation on...

Nowadays, MVNOs are entering the market with the aim of providing new services in the mobile telecommunications industry. Current studies show that having an active and sizable mobile communications market, owning the necessary technological infrastructure, and developing the imperative regulations are critically important factors for MVNO market development. In this respect, this study aims to...

[1] Urban water conservation is typically achieved through prescriptive regulations, including the rationing of water for particular uses and requirements for the installation of particular technologies. A significant shift has occurred in pollution control regulations toward market-based policies in recent decades. We offer an analysis of the relative merits of market-based and prescriptive ap...

This paper describes how the predecessors to modern computers, the family of equipment we describe as The Punch Card Machines entered the Danish and Nordic Market and paved the way for the relatively rapid take-off by the Nordic market of the 'real' computers; also the paper spreads light on the competitive situation, the key applications and the heavy influence of public regulations on market ...

Using 2003 Online Survey Certification and Reporting (OSCAR) data for Medicare and Medicaid certified facilities (N = 14, 184) and multinomial logistic regression this study investigated if (1) psychosocial care quality was better in facilities where State requirements for qualified social services staffing exceeded Federal minimum regulations and (2) facility service environments are associate...