Research Seminars

Tough on criminal wealth? Exploring the link between organized crime asset confiscation and regional entrepreneurship

Strategy & Business Policy

Speaker: Elisa OPERTI

19 October 2017 - HEC Room T017 - From 1:30 pm to 3:00 pm

This paper joins a recent stream of research delving into the market and societal implications of initiatives against organized crime. We ask the question “How does the fight against organized crime affect entrepreneurial entries in a region?” We focus on asset confiscation in relation to alleged connections of their owners with organized crime, one of the most debated judiciary tools to fight the interests of organized crime activities in a region. Consistent with research in institutional economics, we propose that criminal organizations provide “third-best” institutional frameworks that can limit expropriation and favor dispute resolution. Confiscation weakens criminal organizations’ ability to provide governance, creating an institutional vacuum that can lower founding rates, unless it is paired with complementary measures that favor institutional replacement. Using data on asset confiscation in Italian provinces between 2009 and 2013, we show that confiscation events increase entry rates only when local institutions can guarantee the redeployment of confiscated assets in legitimate markets.

Strategy & Business Policy

Speaker: Sendhil Ethiraj

8 June 2017

Strategy & Business Policy

Speaker: Tanya Menon
Ohio State University

6 June 2017 - T004 - From 1:30 pm to 3:00 pm

Strategy & Business Policy

Speaker: Karin Hoisl
University of Mannheim

11 May 2017 - T015 - From 1:30 pm to 3:00 pm

Strategy & Business Policy

Speaker: Thomas Mellewigt
Freie Universität Berlin

4 May 2017