Economists often use event study methodology to evaluate the impact of new regulations on firms before there is enough data to empirically estimate the effects. This research investigates the degree to which event study methodology can provide useful information in this regard by studying how...

We examine wealth effects, for banks and insurers, of bank rights to sell and underwrite annuities. The stock-price reactions to four court and regulatory decisions are consistent with expectations of bank gains at insurers' expense. Cross-sectionally, smaller, riskier insurers with higher...

Sharp price fluctuations and increasing environmental and distributional concerns, among other issues, have led to a renewed academic interest in energy demand. In this paper we estimate, for the first time in Spain, an energy demand system with household microdata. In doing so, we tackle...

A problemática deste artigo centra-se nas diferenças de competitividade entre interior e litoral, tomando os territórios concelhios como espaço de análise. Não obstante as enormes diferenças conhecidas, supôs-se poder existir um potencial de competitividade nas cidades do interior do...

This paper assesses financial sector development in Latin America, both in the banking system and in the capital markets. After a brief review of the explanatory factors and the definitions of financial development found in the literature, Latin American countries are classified in groups of...

The selection of ‘representative’ farms in farm level modelling where results are aggregated to the sector level is critically important if the effects of aggregation bias are to be reduced. The process of selecting representative farms normally involves the use of cluster analysis where the...

This paper is about quality decisions in a vertical structure where competitive producers sell to powerful retailers. Specifically, we focus the analysis on the role played by a tour operator on quality investments when distributing the capacity of a given tourist destination. We emphasize the...

This is a monograph that presents both a comprehensive literature review and original research results on the diffusion and the implications of e-business technologies. The diffusion of e-business technologies among firms is regarded as part of the ongoing process of technological change and...

This paper studies the impact of federal state shareholdings on the performance of Russian companies. It differs from most similar studies in two respects. Firstly, it focuses on mixed ownership companies rather than conventional state enterprises. Secondly, it distinguishes between several...