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Does Everyone Use Probabilities? Intuitive and Rational Decisions about Stockholding
Binswanger, Johannes; Salm, Martin - Institute for the Study of Labor (IZA) - 2013
We investigate the relationship between subjective probabilities of future stock market returns and decisions about stockholding. Specifically, we examine whether acting upon subjective probabilities is confined to individuals with high cognitive skills. We explore this question using data from...
Persistent link: https://www.econbiz.de/10010631344
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Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship
Estrin, Saul; Korosteleva, Julia; Mickiewicz, Tomasz - Institute for the Study of Labor (IZA) - 2009
entrepreneurship, but has less pronounced effects for entrepreneurial entry. The availability of finance and the fiscal burden matter …
Persistent link: https://www.econbiz.de/10005015496
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Measuring Financial Inclusion : An Axiomatic Approach
Chakravarty, Satya R.; Pal, Rupayan - East Asian Bureau of Economic Research (EABER) - 2010
financial services in different dimensions is developed. The suggested index of financial inclusion allows calculation of … attention from a policy perspective. The paper also illustrates the index using cross-country and sub-national level data. …
Persistent link: https://www.econbiz.de/10009363754
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Performance analysis of international mutual funds incorporating market frictions
ter Horst, Jenke; Nijman, Theo; de Roon, F.A. - Tilburg University, Center for Economic Research - 1998
Persistent link: https://www.econbiz.de/10011090489
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Decision Making in the Pension Fund Board Room : An Experiment with Dutch Pension Fund Trustees
van Dalen, H.P.; Henkens, K.; Koedijk, C.G.; Slager, A.M.H. - Tilburg University, Center for Economic Research - 2010
We ask how pension fund trustees deal with the booms and busts that funds encounter, and to what extent the decisions of pension fund trustees are affected by behavioral biases. We examine these issues by using a vignette-method field experiment among Dutch pension fund trustees. We find that...
Persistent link: https://www.econbiz.de/10011092529
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Financial Inclusion and Financial Stability : Current Policy Issues
Hannig, Alfred; Jansen, Stefan - East Asian Bureau of Economic Research (EABER) - 2010
The recent financial crisis has shown that financial innovation can have devastating systemic impacts. International standard setters and national regulators response has been a global concerted effort to overhaul and tighten financial regulations. However, at a time of designing stricter...
Persistent link: https://www.econbiz.de/10009363822
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Financial Turmoil in the Banking Sector and the Asian Lamfalussy Process : The Case of Four Economies
Hsu, Chen-Min; Liao, Chih-Feng - East Asian Bureau of Economic Research (EABER) - 2010
This paper investigates the prevailing financial regulatory structures and impact of the current financial turmoil on banking performance in four Asian economies : the People's Republic of China (PRC); Hong Kong, China; Singapore; and Taipei,China. Both the PRC and Hong Kong, China operate under a...
Persistent link: https://www.econbiz.de/10009363823
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Dynamic Provisioning : Some Lessons from Existing Experiences
Santiago Fernández de Lis; Garcia-Herrero, Alicia - East Asian Bureau of Economic Research (EABER) - 2010
After analyzing the different reasons why the financial system and also the regulatory framework induced procyclicality, this paper reviews the experiences of three countries which have introduced dynamic provisioning as a regulatory tool to limit procyclicality. The case of Spainthe country...
Persistent link: https://www.econbiz.de/10009363866
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Finance and Growth for Microenterprises : Evidence from Rural China
Beck, Thorsten; Lu, L.; Yang, R. - Tilburg University, Center for Economic Research - 2013
Abstract: Using a survey dataset of Chinese rural households, we find that access to external finance is positively … associated with the decision to become entrepreneur, the initial investment for microenterprises and the use of external finance …. Also, we find that the use of informal finance is positively associated with sales growth of microenterprises with …
Persistent link: https://www.econbiz.de/10011092482
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Cross-National Differences in Wealth Portfolios at the Intensive Margin: Is There a Role for Policy?
Doorley, Karina; Sierminska, Eva - Institute for the Study of Labor (IZA) - 2014
Using harmonized wealth data and a novel decomposition approach in this literature, we show that cohort effects exist in the income profiles of asset and debt portfolios for a sample of European countries, the U.S. and Canada. We find that the association between household wealth portfolios at...
Persistent link: https://www.econbiz.de/10010959745