This paper introduces new nonparametric statistical methods to evaluate zero-cost investment strategies. We focus on directional trading strategies, risk-adjusted returns, and the investor's decisions under uncertainty as the core of our analysis. By relying on classification tools with a long...

Using a randomized experiment with an automobile manufacturing firm in China, we measure the effects of letting workers evaluate their managers on worker and firm outcomes. In the treatment teams, workers evaluate their supervisors monthly. We find that providing feedback leads to significant...

We study the impact of government-led incentive systems by examining a staggered reform in the Chinese state-owned enterprise (SOE) performance evaluation policy. To improve capital allocative efficiency, in 2010, regulators switched from using return on equity (ROE) to economic value added...

The OECD/EBRD Enterprise Policy Performance Assessment for Bulgaria presents an overall assessment of conditions for SMEs. It assesses the conditions regarding the institutional framework, the rule of law, tax policy, financial services availability, advistory services availability, business...

The OECD/EBRD Enterprise Policy Performance Assessment for Croatia presents an overall assessment of conditions for SMEs. It assesses the conditions regarding the institutional framework, the rule of law, tax policy, financial services availability, advistory services availability, business...

The OECD/EBRD Enterprise Policy Performance Assessment for Bosnia and Herzegovina presents an overall assessment of the business environment for SMEs. It assesses the conditions regarding the institutional framework, the rule of law, tax policy, financial services availability, advisory services...

This paper summarizes and organizes presentations in the Round Table's presentations and discussions, draws conclusions when possible, and points out where opinions differ. It is divided in three main sections. First, the presentations and discussions provided an overview of the advances,...

We examine the performance of the offshore hedge fund industry over the period 1989 through 1995 using a database that includes defunct as well as currently operating funds. The industry is characterized by high attrition rates of funds and little evidence of differential manager skill. We...

This paper utilizes a unique dataset collected through site visits to extend the analysis of the relationship between the human resource management environment and establishment performance to the service sector, specifically the branch operations of a large bank. Case studies of several...

We study human capital reallocation following firm-specific idiosyncratic shocks. Theory offers diverging predictions as to whether human capital gets reallocated to its most productive use following these shocks. To empirically test these predictions, we focus on relegation battles in the...