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 corporate scorecard provides information on the Bank's overall performance and the results achieved by its clients, against the backdrop of progress on global development objectives. The corporate scorecard facilitates strategic dialogue between management and the Board on progress made and...

Two ambitious goals guide World Bank Group actions: (i) ending extreme poverty by reducing the percentage of people living on less than $1.25 a day to 3 percent by 2030; and (ii) promoting shared prosperity by fostering income growth for the bottom 40 percent of the population in every country. The...

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...

The Corporate Scorecard is designed to provide a snapshot of the Bank???s overall performance, including its business modernization, in the context of development results. It facilitates strategic dialogue between Management and the Board on progress made and areas that need attention. The World...

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...

Traditional human capital theory emphasizes a worker's investment in knowledge. However, when a worker is faced with day-to-day problems on the job, the solutions to the problems often require more knowledge from a team of experts within the firm. When a worker taps into the knowledge of...