Price margins and capital adjustment: Canadian mill products and pulp and paper industries

Article Abstract:

Non-competitve behavior in product and factor markets is examined in the context of the Canadian mill products and pulp and paper industries. Duality theory is used to estimate a model wherein shadow and market price deviations are parameterized. Analysis shows that competitive behavior occurs in both product and factor markets, and in the short-run, coincides with economies of scale. Capital input adjustment costs account for long-run equilibrium deviations, due to the resulting difference between the rental rate and the marginal profit of capital.

PAPER AND ALLIED PRODUCTS, Competition (Economics), Economic aspects, Wood pulp industry, Pricing, Capital formation, Pulp industry

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The compensation of Spanish executives: a test of a managerial talent allocation model

Article Abstract:

A sample of Spanish companies is used to investigate a variant of the managerial talent allocation model developed by Rosen, based on the consistency of determining elasticity of compensation. It was found that the true elasticity between compensation and size may be inconsistently estimated using the approximate coefficient of the regression between the two variables. Thus, empirical regularity claimed by Rosen concerning the true elasticity between the two variables is contested.

Management Compensation, Management-Delegation, Analysis, Management, Compensation management, Spain, Executive compensation, Executive ability, Delegation of authority, Corporate size

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