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Investor Protection and the Value of Shares: Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in Russia

Muravyev, Alexander - Institute for the Study of Labor (IZA) - 2009

This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...

Persistent link: https://www.econbiz.de/10008497016

The Determinants of Foreign Direct Investment Flows to the Federal Region of Kurdistan

Heshmati, Almas; Davis, Rhona - Institute for the Study of Labor (IZA) - 2007

The flow of foreign direct investment (FDI) has increased dramatically in the last two decades. However, the distribution of FDI is highly unequal and the competition among countries to attract foreign investors is fierce. This report investigates the determinants of FDI inflows to developing...

Persistent link: https://www.econbiz.de/10005762073

Banks and Innovation: Microeconometric Evidence on Italian Firms

Benfratello, Luigi; Schiantarelli, Fabio; Sembenelli, … - Institute for the Study of Labor (IZA) - 2006

In this paper we investigate the effect of local banking development on firms’ innovative activities, using a rich data set on innovation for a large number of Italian firms over the 1990’s. There is evidence that banking development affects the probability of process innovation,...

Persistent link: https://www.econbiz.de/10005822124

On the Reversibility of Structural Reforms

Campos, Nauro F; Horváth, Roman - Institute for the Study of Labor (IZA) - 2012

evidence showing that (a) FDI inflows reduce the likelihood of privatization reversals, (b) worsened terms of trade increase …

Persistent link: https://www.econbiz.de/10011279308

Reform Redux: Measurement, Determinants and Reversals

Campos, Nauro F.; Horváth, Roman - Institute for the Study of Labor (IZA) - 2006

We construct objective measures of privatization, internal and external liberalization reform efforts, across countries … external liberalization and privatization, concentration of political power drives internal liberalization, and democracy … underpins all three. We find that FDI inflows reduce the probability of privatization reversals, labour strikes increase that of …

Persistent link: https://www.econbiz.de/10005822778

How Policy Changes Affect Shareholder Wealth: The Case of the Fukushima Daiichi Nuclear Disaster

Betzer, André; Doumet, Markus; Rinne, Ulf - Institute for the Study of Labor (IZA) - 2011

This paper analyzes how policy changes affect shareholder wealth in the context of environmental regulation. We exploit the unique and unexpected German reaction to the Fukushima Daiichi nuclear disaster, which involved the immediate shutdown of almost half of Germany’s nuclear reactors while...

Persistent link: https://www.econbiz.de/10009220619

Surviving the Turbulence Is Not Enough: Can Côte d'Ivoire Flourish Again?

Constant, Amelie F.; Tien, Bienvenue N. - Institute for the Study of Labor (IZA) - 2011

Côte d'Ivoire is the world’s largest producer and exporter of cocoa beans, it accounts for 40% of the WAEMU's output, and 11% of its population are immigrant workers. Any political instability in the country will not only affect the domestic economy, but it will also affect the international...

Persistent link: https://www.econbiz.de/10009294829

Do Women in Top Management Affect Firm Performance? A Panel Study of 2500 Danish Firms

Smith, Nina; Smith, Valdemar; Verner, Mette - Institute for the Study of Labor (IZA) - 2005

Corporate governance literature argues that board diversity is potentially positively related to firm performance. This study examines the relationship in the case of women in top executive jobs and on boards of directors. We use data for the 2500 largest Danish firms observed during the period...

Persistent link: https://www.econbiz.de/10005703543

The Shadow Economy and Shadow Labor Force: A Survey of Recent Developments

Schneider, Friedrich - Institute for the Study of Labor (IZA) - 2014

This survey presents the various methods to estimate the size of the shadow economy, their strengths and weaknesses and the estimation results. The purpose of the survey is threefold. Firstly, it demonstrates that no ideal method to estimate the size and development of the shadow economy exists....

Persistent link: https://www.econbiz.de/10010884126

The Effect of Local Area Crime on Mental Health

Dustmann, Christian; Fasani, Francesco - Institute for the Study of Labor (IZA) - 2013

This paper analyses the effect of local crime rates on the mental well-being of residents. Our identification strategy addresses the problem of sorting, and endogenous moving behaviour. We find that crime causes considerable mental distress of residents, and that these effects are mainly driven...

Persistent link: https://www.econbiz.de/10010884173

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