IDEAS home Printed from https://ideas.repec.org/p/mpg/wpaper/2008_13.html
   My bibliography  Save this paper

Cartels, managerial incentives, and productive efficiency in German coal mining, 1881-1913

Author

Listed:
  • Carsten Burhop

    (Max Planck Institute for Research on Collective Goods)

  • Thorsten Luebbers

    (Max Planck Institute for Research on Collective Goods)

Abstract

In this paper, we evaluate the impact of cartelisation and managerial incentives on the productive efficiency of German coal mining corporations. We focus on coal mining in the Ruhr district, Germany’s main mining area. We use stochastic frontier analysis and an unbalanced dynamic panel data set for up to 28 firms for the years 1881-1913 to measure productive efficiency. We show that coal was mined with decreasing returns to scale. Moreover, it turns out that cartelisation did not affect productive efficiency. Controlling for corporate governance variables shows that stronger managerial incentives were significantly correlated with productive efficiency, whereas the debt-equity ratio did not influence it.

Suggested Citation

  • Carsten Burhop & Thorsten Luebbers, 2008. "Cartels, managerial incentives, and productive efficiency in German coal mining, 1881-1913," Discussion Paper Series of the Max Planck Institute for Research on Collective Goods 2008_13, Max Planck Institute for Research on Collective Goods.
    • Handle: RePEc:mpg:wpaper:2008_13
    as

    Download full text from publisher

    File URL: http://www.coll.mpg.de/pdf_dat/2008_13online.pdf
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Economic history; Germany pre-1913; Cartel; Productive efficiency; Corporate Governance;
    All these keywords.

    JEL classification:

    • N53 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Europe: Pre-1913
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    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:mpg:wpaper:2008_13. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Marc Martin (email available below). General contact details of provider: https://edirc.repec.org/data/mppggde.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.