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Chanelling Domestic Saving into Productive Investment Under Asymmetric Information: The Essential Role of Foreign Direct Investment.

Razin, A.; Sadka, E.; Yuen, C.W. - Foerder Institute for Economic Research, Eitan Berglas … - 1997

Foreign direct investment (FDI) is observed to be a predominant form of capital flows to low and middle income countries with insufficiently developed capital markets. This paper analyzes the problem of channelling domestic savings into productive investment in the presence of asymmetric...

Persistent link: https://www.econbiz.de/10005647243

The Choice of Acquiring Medical Information on Life Insurance Markets.

Sulganik, E.; Zilcha, I. - Foerder Institute for Economic Research, Eitan Berglas … - 1999

Consider individuals facing uncertain lifetime (and hence uncertain future incomes). Each individual must go through (dentical) medical checkups. The choice of medical expert that interprets the results, and hence provides more information about the random lifetime, must be done prior to the...

Persistent link: https://www.econbiz.de/10005647308

Conflict of Interest in Universal Banking: Evidence from the Post-Issue performance of IPO Firms.

Ber, Y.; Yafeh, Y.; Yosha, O. - Foerder Institute for Economic Research, Eitan Berglas … - 1997

Using a unique newly constructed data set on Israeli IPO firms in the 1990s, we study costs and benefits of universal banking. The post-issue accounting profitability of firms underwritten by bank affiliated underwriters that were also borrowers from the same bank in the IPO year, is...

Persistent link: https://www.econbiz.de/10005675342

The Post-Issue Performance of IPO Firms when Banking Is Concentrated and Universal.

Ber, H.; Yafeh, Y.; Yosha, O. - Foerder Institute for Economic Research, Eitan Berglas … - 1996

We study the post-IPO performance of Israeli manufacturing firms during teh period 1991-4, finding a decline in profitability and an increase in General and Adminstrative Expenses normalized by sales (GAE), reflecting managerial waste.

Persistent link: https://www.econbiz.de/10005675371

Excessive FDI Flows under Asymmetric Information.

Razin, A.; Sadka, E.; Yuen, C.-W. - Foerder Institute for Economic Research, Eitan Berglas … - 1999

In Razin, Sadka and Yuen (1998, 1999a), we explored the policy implications of the home-bias in international portfolio investment as a result of asymmetric information problems in which domestic savers, being "close" to the domestic market, have an informational advantage over foreign portfolio...

Persistent link: https://www.econbiz.de/10005675380

On the Evolution of Attitudes Towards Risk in Winner-Take-All Games.

Dekel, E.; Scotchmer, S. - Foerder Institute for Economic Research, Eitan Berglas … - 1999

A long-standing conjecture is that winner-take-all games such as patent races lead to the survival of risk-takers and … the extinction of risk-averters. In many species a winner-take-all game determines the males' right to reproduce, and the … same argument suggests that males will evolve to be risk-takers. Psychological and sociological evidence buttresses the …

Persistent link: https://www.econbiz.de/10005783642

Risk Taking in Selection Contests.

Hvide, H.K.; Kristiansen, E.G. - Foerder Institute for Economic Research, Eitan Berglas … - 1999

We study selection contests in which the strategic variable is degree of risk rather than amount of effort. The …

Persistent link: https://www.econbiz.de/10005783666

BEHAVIORALLY CONSISTENT OPTIMAL STOPPING RULES

KARNI, E.; SAFRA, Z. - Foerder Institute for Economic Research, Eitan Berglas … - 1988

Persistent link: https://www.econbiz.de/10005783675

Risk Sharing and Industrial Specialization: Regional and International Evidence.

Kalemli-Ozcan, S.; Sorensen, B.E.; Yosha, O. - Foerder Institute for Economic Research, Eitan Berglas … - 1999

We provide empirical evidence that risk sharing enhances specialization in production. To the best of our knowledge … integration (a measure of risk sharing) within each of these groups of regions: The EC countries, the non-EC OECD countries, the …). Finally, we perform a regression of the specialization index on the degree of risk sharing, controlling for relevant economic …

Persistent link: https://www.econbiz.de/10005783677

Channels of Interstate Risksharing: U.S. 1963-1990.

Asdrubali, P.; Sorensen, B.E.; Yosha, O. - Foerder Institute for Economic Research, Eitan Berglas … - 1995

Persistent link: https://www.econbiz.de/10005783680