Negative Incentives and Regulatory Capture: Noncompliance with Price Ceilings on Essential Medicines in India
Author
Abstract
Suggested Citation
DOI: 10.1111/joms.12885
Download full text from publisher
References listed on IDEAS
- Scott Shane & Maw-Der Foo, 1999. "New Firm Survival: Institutional Explanations for New Franchisor Mortality," Management Science, INFORMS, vol. 45(2), pages 142-159, February.
- Ajay Bhaskarabhatla, 2018. "Regulating Pharmaceutical Prices in India," India Studies in Business and Economics, Springer, number 978-3-319-93393-1, March.
- Steven Shavell & A. Mitchell Polinsky, 2000.
"The Economic Theory of Public Enforcement of Law,"
Journal of Economic Literature, American Economic Association, vol. 38(1), pages 45-76, March.
- A. Mitchell Polinsky & Steven Shavell, 1999. "The Economic Theory of Public Enforcement of Law," NBER Working Papers 6993, National Bureau of Economic Research, Inc.
- Ajay Bhaskarabhatla & Priyatam Anurag & Chirantan Chatterjee & Enrico Pennings, 2021. "How Does Regulation Impact Strategic Repositioning by Firms Across Submarkets? Evidence from the Indian Pharmaceutical Industry," Strategy Science, INFORMS, vol. 6(3), pages 209-227, September.
- Baron, David P., 1989. "Design of regulatory mechanisms and institutions," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 24, pages 1347-1447, Elsevier.
- Ajay Bhaskarabhatla & Chirantan Chatterjee & Bas Karreman, 2016. "Hit Where It Hurts: Cartel Policing Using Targeted Sales and Supply Embargoes," Journal of Law and Economics, University of Chicago Press, vol. 59(4), pages 805-846.
- Mark T. Leary & Michael R. Roberts, 2014. "Do Peer Firms Affect Corporate Financial Policy?," Journal of Finance, American Finance Association, vol. 69(1), pages 139-178, February.
- Alberto Alesina & Salvatore Piccolo & Paolo Pinotti, 2019.
"Organized Crime, Violence, and Politics,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 86(2), pages 457-499.
- Pinotti, Paolo & Alesina, Alberto & Piccolo, Salvatore, 2016. "Organized Crime, Violence, and Politics," CEPR Discussion Papers 11641, C.E.P.R. Discussion Papers.
- Alberto Alesina & Salvatore Piccolo & Paolo Pinotti, 2016. "Organized Crime, Violence, and Politics," CSEF Working Papers 433, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Alberto Alesina & Salvatore Piccolo & Paolo Pinotti, 2016. "Organized Crime, Violence, and Politics," NBER Working Papers 22093, National Bureau of Economic Research, Inc.
- Anat Gofen, 2015. "Reconciling policy dissonance: patterns of governmental response to policy noncompliance," Policy Sciences, Springer;Society of Policy Sciences, vol. 48(1), pages 3-24, March.
- Pei Sun & Kamel Mellahi & Mike Wright & Haoping Xu, 2015. "Political Tie Heterogeneity and the Impact of Adverse Shocks on Firm Value," Journal of Management Studies, Wiley Blackwell, vol. 52(8), pages 1036-1063, December.
- Ernesto Dal Bo & Rafael Di Tella, 2003. "Capture by Threat," Journal of Political Economy, University of Chicago Press, vol. 111(5), pages 1123-1152, October.
- Feinstein, Jonathan S, 1999. "Approaches for Estimating Noncompliance: Examples from Federal Taxation in the United States," Economic Journal, Royal Economic Society, vol. 109(456), pages 360-369, June.
- Ernesto Dal Bo´, 2006. "Regulatory Capture: A Review," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 22(2), pages 203-225, Summer.
- Jonathan P. Doh & Thomas Lawton & Tazeeb Rajwani, 2012. "Advancing Nonmarket Strategy Research : Institutional Perspectives in a Changing World," Post-Print hal-02312974, HAL.
- Rodolphe Durand & Robert M. Grant & Tammy L. Madsen & Sinziana Dorobantu & Aseem Kaul & Bennet Zelner, 2017. "Nonmarket strategy research through the lens of new institutional economics: An integrative review and future directions," Strategic Management Journal, Wiley Blackwell, vol. 38(1), pages 114-140, January.
- Daniele, Gianmarco & Dipoppa, Gemma, 2017.
"Mafia, elections and violence against politicians,"
Journal of Public Economics, Elsevier, vol. 154(C), pages 10-33.
- Gianmarco Daniele & Gemma Dipoppa, 2016. "Mafia, elections and violence against politicians," Working Papers 2016/29, Institut d'Economia de Barcelona (IEB).
- Pontikes, Elizabeth G. & Barnett, William P., 2015. "The Persistence of Lenient Market Categories," Research Papers 3002, Stanford University, Graduate School of Business.
- Dewan, Torun & Myatt, David P., 2007. "Scandal, Protection, and Recovery in the Cabinet," American Political Science Review, Cambridge University Press, vol. 101(1), pages 63-77, February.
- McDonnell, Mary-Hunter & King, Brayden & Soule, Sarah A., 2015. "A Dynamic Process Model of Private Politics: Activist Targeting and Corporate Receptivity to Social Challenges," Research Papers 3319, Stanford University, Graduate School of Business.
- Siah Hwee Ang & Mirko H. Benischke & Jonathan P. Doh, 2015. "The interactions of institutions on foreign market entry mode," Strategic Management Journal, Wiley Blackwell, vol. 36(10), pages 1536-1553, October.
- Chris Changwha Chung & Paul W. Beamish, 2005. "The Impact of Institutional Reforms on Characteristics and Survival of Foreign Subsidiaries in Emerging Economies," Journal of Management Studies, Wiley Blackwell, vol. 42(1), pages 35-62, January.
- Jordi Blanes i Vidal & Mirko Draca & Christian Fons-Rosen, 2012.
"Revolving Door Lobbyists,"
American Economic Review, American Economic Association, vol. 102(7), pages 3731-3748, December.
- Blanes i Vidal, Jordi & Draca, Mirko & Fons-Rosen, Christian, 2010. "Revolving door lobbyists," LSE Research Online Documents on Economics 31546, London School of Economics and Political Science, LSE Library.
- Jordi Blanes i Vidal & Mirko Draca & Christian Fons-Rosen, 2010. "Revolving Door Lobbyists," CEP Discussion Papers dp0993, Centre for Economic Performance, LSE.
- Ellison, Glenn & Fudenberg, Drew, 1993.
"Rules of Thumb for Social Learning,"
Journal of Political Economy, University of Chicago Press, vol. 101(4), pages 612-643, August.
- Ellison, Glenn & Fudenberg, Drew, 1992. "Rules of Thumb for Social Learning," IDEI Working Papers 17, Institut d'Économie Industrielle (IDEI), Toulouse.
- G. Ellison & D. Fudenberg, 2010. "Rules of Thumb for Social Learning," Levine's Working Paper Archive 435, David K. Levine.
- Ellison, Glenn & Fudenberg, Drew, 1993. "Rules of Thumb for Social Learning," Scholarly Articles 3196332, Harvard University Department of Economics.
- Allison, G. & Fudenberg, D., 1992. "Rules of Thumb for Social Learning," Working papers 92-12, Massachusetts Institute of Technology (MIT), Department of Economics.
- Birgul Arslan & Murat Tarakci, 2022. "Negative Spillovers Across Partnerships for Responsible Innovation: Evidence from the 2014 Ebola Outbreak," Journal of Management Studies, Wiley Blackwell, vol. 59(1), pages 126-162, January.
- Kalle Pajunen, 2006. "Stakeholder Influences in Organizational Survival," Journal of Management Studies, Wiley Blackwell, vol. 43(6), pages 1261-1288, September.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 1998. "Learning from the Behavior of Others: Conformity, Fads, and Informational Cascades," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 151-170, Summer.
- Pei Sun & Ziliang Deng & Mike Wright, 2021. "Partnering with Leviathan: The politics of innovation in foreign-host-state joint ventures," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(4), pages 595-620, June.
- Julio César Arteaga & Daniel Flores, 2022. "Price Regulation and Fraud—with Special Emphasis on Gasoline Retailing," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 60(2), pages 175-192, March.
- Jonathan P. Doh & John A. Pearce, 2004. "Corporate Entrepreneurship and Real Options in Transitional Policy Environments: Theory Development," Journal of Management Studies, Wiley Blackwell, vol. 41(4), pages 645-664, June.
- Shiller, Robert J, 1995.
"Conversation, Information, and Herd Behavior,"
American Economic Review, American Economic Association, vol. 85(2), pages 181-185, May.
- Robert J. Shiller, 1995. "Conversation, Information, and Herd Behavior," Cowles Foundation Discussion Papers 1092, Cowles Foundation for Research in Economics, Yale University.
- Karpoff, Jonathan M & Lott, John R, Jr & Wehrly, Eric W, 2005. "The Reputational Penalties for Environmental Violations: Empirical Evidence," Journal of Law and Economics, University of Chicago Press, vol. 48(2), pages 653-675, October.
- Ilídio Barreto & Charles Baden‐Fuller, 2006. "To Conform or To Perform? Mimetic Behaviour, Legitimacy‐Based Groups and Performance Consequences," Journal of Management Studies, Wiley Blackwell, vol. 43(7), pages 1559-1581, November.
- Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992.
"A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades,"
Journal of Political Economy, University of Chicago Press, vol. 100(5), pages 992-1026, October.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
- Benjamin Barber & Luis Diestre, 2019. "Pushing for speed or scope? Pharmaceutical lobbying and Food and Drug Administration drug review," Strategic Management Journal, Wiley Blackwell, vol. 40(8), pages 1194-1218, August.
- Heyes, Anthony, 2000. "Implementing Environmental Regulation: Enforcement and Compliance," Journal of Regulatory Economics, Springer, vol. 17(2), pages 107-129, March.
- Jonathan P. Doh & Thomas Lawton & Tazeeb Rajwani, 2012. "Advancing Nonmarket Strategy Research : Institutional Perspectives in a Changing World," Post-Print hal-02276718, HAL.
- Kaplow, Louis & Shavell, Steven, 1994.
"Optimal Law Enforcement with Self-Reporting of Behavior,"
Journal of Political Economy, University of Chicago Press, vol. 102(3), pages 583-606, June.
- Louis Kaplow & Steven Shavell, 1991. "Optimal Law Enforcement with Self-Reporting of Behavior," NBER Working Papers 3822, National Bureau of Economic Research, Inc.
- Welch, Ivo, 1992. "Sequential Sales, Learning, and Cascades," Journal of Finance, American Finance Association, vol. 47(2), pages 695-732, June.
- David Tan & Christopher I. Rider, 2017. "Let them go? How losing employees to competitors can enhance firm status," Strategic Management Journal, Wiley Blackwell, vol. 38(9), pages 1848-1874, September.
- Pei Sun & Jonathan P. Doh & Tazeeb Rajwani & Donald Siegel, 2021. "Navigating cross-border institutional complexity: A review and assessment of multinational nonmarket strategy research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(9), pages 1818-1853, December.
- Braithwaite, John, 2006. "Responsive regulation and developing economies," World Development, Elsevier, vol. 34(5), pages 884-898, May.
- Devenow, Andrea & Welch, Ivo, 1996. "Rational herding in financial economics," European Economic Review, Elsevier, vol. 40(3-5), pages 603-615, April.
- Grabowski, Henry G & Vernon, John M, 1992. "Brand Loyalty, Entry, and Price Competition in Pharmaceuticals after the 1984 Drug Act," Journal of Law and Economics, University of Chicago Press, vol. 35(2), pages 331-350, October.
- Elizabeth G. Pontikes & William P. Barnett, 2015. "The Persistence of Lenient Market Categories," Organization Science, INFORMS, vol. 26(5), pages 1415-1431, October.
- Abhijit V. Banerjee, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(3), pages 797-817.
- Rajwani, Tazeeb & Liedong, Tahiru Azaaviele, 2015. "Political activity and firm performance within nonmarket research: A review and international comparative assessment," Journal of World Business, Elsevier, vol. 50(2), pages 273-283.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Puput Tri Komalasari & Marwan Asri & Bernardinus M. Purwanto & Bowo Setiyono, 2022. "Herding behaviour in the capital market: What do we know and what is next?," Management Review Quarterly, Springer, vol. 72(3), pages 745-787, September.
- Michael McAleer & Kim Radalj, 2013.
"Herding, Information Cascades and Volatility Spillovers in Futures Markets,"
Journal of Reviews on Global Economics, Lifescience Global, vol. 2, pages 307-329.
- Michael McAleer & Kim Radalj, 2013. "Herding, Information Cascades and Volatility Spillovers in Futures Markets," Working Papers in Economics 13/23, University of Canterbury, Department of Economics and Finance.
- McAleer, M.J. & Radalj, K., 2013. "Herding, Information Cascades and Volatility Spillovers in Futures Markets," Econometric Institute Research Papers EI 2013-23, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
- Michael McAleer & Kim Radalj, 2013. "Herding, Information Cascades and Volatility Spillovers in Futures Markets," Documentos de Trabajo del ICAE 2013-25, Universidad Complutense de Madrid, Facultad de Ciencias Económicas y Empresariales, Instituto Complutense de Análisis Económico.
- Michael McAleer & Kim Radalj, 2013. "Herding, Information Cascades and Volatility Spillovers in Futures Markets," KIER Working Papers 873, Kyoto University, Institute of Economic Research.
- Michael McAleer & Kim Radalj, 2013. "Herding, Information Cascades and Volatility Spillovers in Futures Markets," Tinbergen Institute Discussion Papers 13-086/III, Tinbergen Institute.
- Hirshleifer, David & Teoh, Siew Hong, 2008.
"Thought and Behavior Contagion in Capital Markets,"
MPRA Paper
9164, University Library of Munich, Germany.
- Hirshleifer, David & Teoh, Siew Hong, 2008. "Thought and Behavior Contagion in Capital Markets," MPRA Paper 9142, University Library of Munich, Germany.
- Welch, Ivo, 2000. "Herding among security analysts," Journal of Financial Economics, Elsevier, vol. 58(3), pages 369-396, December.
- Ali-Rind, Asad & Boubaker, Sabri & Jarjir, Souad Lajili, 2023.
"Peer effects in financial economics: A literature survey,"
Research in International Business and Finance, Elsevier, vol. 64(C).
- Asad Ali-Rind & Sabri Boubaker & Souad Lajili Jarjir, 2023. "Peer effects in financial economics: A literature survey," Post-Print hal-04085261, HAL.
- Wang, Peiwen & Chen, Minghua & Wu, Ji & Yan, Yuanyun, 2023. "Do peer effects matter in bank risk? Some cross-country evidence," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
- Nathaniel Boso & Joseph Amankwah-Amoah & Dominic Essuman & Oluwaseun E. Olabode & Patience Bruce & Magnus Hultman & James Kofi Kutsoati & Ogechi Adeola, 2023. "Configuring political relationships to navigate host-country institutional complexity: Insights from Anglophone sub-Saharan Africa," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 54(6), pages 1055-1089, August.
- Jonathan E. Alevy & Michael S. Haigh & John List, 2006. "Information Cascades: Evidence from An Experiment with Financial Market Professionals," NBER Working Papers 12767, National Bureau of Economic Research, Inc.
- Atmaca, Sümeyra & Schoors, Koen & Verschelde, Marijn, 2020.
"Bank loyalty, social networks and crisis,"
Journal of Banking & Finance, Elsevier, vol. 112(C).
- Sümeyra Atmaca & Koen Schoors & Marijn Verschelde, 2016. "Bank Loyalty, Social Networks And Crisis," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 16/923, Ghent University, Faculty of Economics and Business Administration.
- Sümeyra Atmaca & Koen Schoors & Marijn Verschelde, 2020. "Bank loyalty, social networks and crisis," Post-Print hal-03001816, HAL.
- Daron Acemoglu & Munther A. Dahleh & Ilan Lobel & Asuman Ozdaglar, 2011.
"Bayesian Learning in Social Networks,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 78(4), pages 1201-1236.
- Daron Acemoglu & Munther A. Dahleh & Ilan Lobel & Asuman Ozdaglar, 2008. "Bayesian Learning in Social Networks," NBER Working Papers 14040, National Bureau of Economic Research, Inc.
- Frederik König, 2014. "Reciprocal social influence on investment decisions: behavioral evidence from a group of mutual fund managers," Financial Markets and Portfolio Management, Springer;Swiss Society for Financial Market Research, vol. 28(3), pages 233-262, August.
- Brian Knight & Nathan Schiff, 2010.
"Momentum and Social Learning in Presidential Primaries,"
Journal of Political Economy, University of Chicago Press, vol. 118(6), pages 1110-1150.
- Brian Knight & Nathan Schiff, 2007. "Momentum and Social Learning in Presidential Primaries," NBER Working Papers 13637, National Bureau of Economic Research, Inc.
- Peprah, Augustine Awuah & Atarah, Bede Akorige & Kumodzie-Dussey, Makafui Kwame, 2024. "Nonmarket strategy and legitimacy in institutionally voided environments: The case of Jumia, an African e-commerce giant," International Business Review, Elsevier, vol. 33(2).
- Shirodkar, Vikrant & Liedong, Tahiru Azaaviele & Rajwani, Tazeeb & Lawton, Thomas C., 2024. "MNE nonmarket strategy in a changing world: Complexities, varieties, and a values-based approach," International Business Review, Elsevier, vol. 33(2).
- Shantanu Banerjee & Sunil Venaik, 2018. "The Effect of Corporate Political Activity on MNC Subsidiary Legitimacy: An Institutional Perspective," Management International Review, Springer, vol. 58(5), pages 813-844, October.
- Cao, H. Henry & Han, Bing & Hirshleifer, David, 2011.
"Taking the road less traveled by: Does conversation eradicate pernicious cascades?,"
Journal of Economic Theory, Elsevier, vol. 146(4), pages 1418-1436, July.
- Henry Cao & David Hirshleifer, 2004. "Taking the Road Less Traveled: Does Conversation Eradicate Pernicious Cascades?," Game Theory and Information 0412001, University Library of Munich, Germany.
- Andrei Panibratov & Ramsés A. Sánchez Herrera & Alvar Castello Esquerdo & Daria Klishevich, 2023. "Surviving populism: A corporate political activity approach in Mexico," Journal of International Business Policy, Palgrave Macmillan, vol. 6(2), pages 182-200, June.
- Pastine, Tuvana, 2005.
"Social Learning in Continuous Time: When are Informational Cascades More Likely to be Inefficient?,"
CEPR Discussion Papers
5120, C.E.P.R. Discussion Papers.
- Ivan Pastine & Tuvana Pastine, 2006. "Social Learning in Continuous Time - When are Informational Cascades More Likely to be Inefficient?," Working Papers 200621, School of Economics, University College Dublin.
- Yi-Hsing Liao & Teng-Sheng Sang & Yuan-Tang Tsai, 2022. "Do information sources matter in corporate tax avoidance? The roles of peer effects and director interlocks," Review of Quantitative Finance and Accounting, Springer, vol. 59(1), pages 339-382, July.
- Michiel Bijlsma & Wim Suyker, 2008. "The credit crisis and the Dutch economy... in eight frequently asked questions," CPB Memorandum 210.rdf, CPB Netherlands Bureau for Economic Policy Analysis.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jomstd:v:61:y:2024:i:2:p:336-374. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-2380 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.