Underpricing of IPOs in Thailand significantly drops following the country's major governance reform, indicating less price-protection by investors. The lower price-protection is associated with fewer instances of absolute control retention by pre-issue insiders during the post-reform period,...

The increasing complexity of large financial firms has led to consideration of alternative regulatory structures. This has intensified recently because of the worldwide turmoil in financial markets. One important consideration has been to increase reliance on market discipline—most notably,...

This paper uses qualitative and comparative analysis to reveal two important findings. First, in France, if the aim of reform announced by the Minister is to re-build the SNCF's monopoly, our fear is that, instead of stimulating French railways, this will cause a downward slide in the sector by...

In this paper we set forth a novel analysis of urban quality of life (QoL) using Data Envelopment Analysis (DEA) approach. We use a newly constructed municipality database, which includes all 103 provincial capitals. In our approach we follow a two-stage method. In the first stage, we estimate...

Il presente lavoro rappresenta un primo tentativo di analizzare in chiave spaziale l’efficienza conseguita a livello di governo locale in Italia, utilizzando un database di nuova costruzione, che comprende i 341 comuni della regione Emilia- Romagna. La metodologia d’analisi si basa su una...