Talking down the firm: short-term market manipulation and optimal management compensation

Article Abstract:

A model was developed to illustrate the utilization of short- and long-term share prices in management incentive contracts. The model showed that the optimal contract protects the manager from short-term share price fluctuations whenever short-term market traders and managers have the same level of information. A manager has the ability to control short-term share price and improve the image of his value added whenever he is completely insured and has access to private information regarding short-term share price

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Research, Management, Stocks, Exchanges, Incentives (Business)

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Determinants of opposition against EPO patent grants - the case of biotechnology and pharmaceuticals

Article Abstract:

The determinants of opposition to biotechnology and pharmaceutical patents granted by the European Patent Office (EPO) between 1978 and 1996 are analyzed. Opposition at the European Patent Office (EPO) is the most important mechanism by which the validity of a European patent can be challenged. It is shown that the likelihood of opposition increases with patent value, and that opposition is particularly frequent in areas with strong patenting activity.

Europe, Government regulation, Pharmaceutical preparations, Drugs, Other Justice, Public Order, and Safety Activities, Patent Law, Analysis, Biotechnology industry, Pharmaceutical industry, Biotechnology industries, European Patent Office, Licensing, certification and accreditation, Powers and duties

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