In this paper we explore the role of the static, selection and dynamic corporate governance changes on performance of commercial banks. We use stochastic cost frontier and panel data methods for an unbalanced panel data of Pakistani banks from 1991 to 2005. We find overall bank cost inefficiency...

The purpose of this study is to reexamine two empirical regularities in the Japanese labor market : the constant labor share and Okun's law. The former law relates to the price of labor in the labor market while the latter is a quantity law; they represent suitable benchmarks for judging the...

Arguably the fundamental problem faced by employers is how to elicit effort from employees. Most models suggest that employers meet this challenge by monitoring employees carefully to prevent shirking. But there is another option that relies on heterogeneity across employees, and that is to...

The unique way of financing housing through the mandatory savings system in Singapore has created a class of asset-rich and cash-poor Singaporeans. This paper provides a framework to assess the viability of a reverse mortgage (RM) market so that such instruments may be harnessed as a source of...

This paper considers the efficiency properties of risk-neutral workers mobility decisions in an equilibrium model with search frictions, but no search externalities, when the rent accruing to a match is split through bargaining. Matches are ex ante homogeneous and their true productivity is...

This paper demonstrates how family size can be an important contributor to poverty in the Philippines. It examines one of the mechanisms behind this link by focusing on the relation between number of children and the decision to seek a job and parents' wage earnings. It surveys the international...

The paper examines the impact of stock market liberalisation on four industry-level economic variables, i) growth in real value added, ii) growth in real wages per worker, iii) growth in the number of employees and iv) growth in the number of firms using data on 18 developing countries for the...

The relation between multiple directorships, busy directors and firm performance has been researched predominantly in the context of developed economies, notably the US. This paper extends the existing literature on multiple directorships in two ways; first, by providing additional evidence on...

It is widely believed that corporate boards are overly reluctant to fire their CEOs. The conventional explanation for retaining a CEO regardless of his/her talent is that a CEO chooses the board members and has the power to fire them. However, very few studies have investigated how a new CEO is...