• Medientyp: E-Book
  • Titel: Regulatory Exploitation and the Market for Corporate Controls
  • Beteiligte: Dafny, Leemore S. [Verfasser:in]; Dranove, David [Sonstige Person, Familie und Körperschaft]
  • Erschienen: [S.l.]: SSRN, [2010]
  • Erschienen in: NBER Working Paper ; No. w12438
  • Umfang: 1 Online-Ressource (42 p)
  • Sprache: Englisch
  • Entstehung:
  • Anmerkungen: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments August 2006 erstellt
  • Beschreibung: This paper investigates whether managers who fail to exploit regulatory loopholes are vulnerable to replacement. We use the U.S. hospital industry in 1985-1996 as a case study. A 1988 change in Medicare rules widened a pre-existing loophole in the Medicare payment system, presenting hospitals with an opportunity to increase operating margins by five or more percentage points simply by quot;upcodingquot; patients to more lucrative codes. We find that quot;room to upcodequot; is a statistically and economically significant predictor of whether a hospital replaces its management with a new team of for-profit managers. We also find that hospitals replacing their management subsequently upcode more than a sample of similar hospitals that did not, as identified by propensity scores
  • Zugangsstatus: Freier Zugang