This paper introduces new nonparametric statistical methods to evaluate zero-cost investment strategies. We focus on directional trading strategies, risk-adjusted returns, and the investor's decisions under uncertainty as the core of our analysis. By relying on classification tools with a long...

Using a randomized experiment with an automobile manufacturing firm in China, we measure the effects of letting workers evaluate their managers on worker and firm outcomes. In the treatment teams, workers evaluate their supervisors monthly. We find that providing feedback leads to significant...

We study the impact of government-led incentive systems by examining a staggered reform in the Chinese state-owned enterprise (SOE) performance evaluation policy. To improve capital allocative efficiency, in 2010, regulators switched from using return on equity (ROE) to economic value added...

This Enterprise Policy Performance Assessment report is presented as an independent and constructive contribution to the debate on enterprise policy in Albania, bringing forward the views of the small business sector and providing a set of priority actions and policy recommendations to the...

The OECD/EBRD Enterprise Policy Performance Assessment for Bulgaria presents an overall assessment of conditions for SMEs. It assesses the conditions regarding the institutional framework, the rule of law, tax policy, financial services availability, advistory services availability, business...

The OECD/EBRD Enterprise Policy Performance Assessment for Croatia presents an overall assessment of conditions for SMEs. It assesses the conditions regarding the institutional framework, the rule of law, tax policy, financial services availability, advistory services availability, business...

The OECD/EBRD Enterprise Policy Performance Assessment for Bosnia and Herzegovina presents an overall assessment of the business environment for SMEs. It assesses the conditions regarding the institutional framework, the rule of law, tax policy, financial services availability, advisory services...

Biofuels received USD 15 billion in subsidies in OECD Member countries in 2007, but did they deliver benefits in terms of climate change or oil security? Present policies make no link between support for biofuels and their environmental performance, and biofuels do not all perform equally well....

We examine the performance of the offshore hedge fund industry over the period 1989 through 1995 using a database that includes defunct as well as currently operating funds. The industry is characterized by high attrition rates of funds and little evidence of differential manager skill. We...