We study the effect of earnings manipulation on incentives within the corporate hierarchy. When top management … additional payment. We show that it is easier for division managers to prove top management’s manipulations when the performance …

We study the effect of earnings manipulation on incentives within the corporate hierarchy. When top management … additional payment. We show that it is easier for division managers to prove top management’s manipulations when the performance …

This paper models the causes of the 2008 financial crisis together with its manifestations, using a Multiple Indicator … are both national (such as equity market run-ups that preceded the crisis) and, critically, international financial and … securities that deteriorate in value is exposed to an American crisis through a financial channel. Similarly, a country which …

, macroeconomic and financial influences are not closely associated with the cross-country incidence of speculative attacks. We also …

the global financial crisis. This is due in part to the fact that many small economies continue to use hard exchange rate … data from more than 170 countries from 2007 through 2012 and find that the macroeconomic and financial consequences of … hard fixers have been similar to those for inflation targeters during the Global Financial Crisis and its aftermath. …

To identify the effect of social capital on financial development, we exploit the well-known differences in social …