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Currently, there is insufficient evidence regarding which policies will improve nutrition, reduce BMI, the probability of obesity and the probability of overweight nationwide. This preliminary study investigates the impact of a nutrition-education policy relative to price policy as a means to...
Persistent link: https://www.econbiz.de/10012463648
Disclosure policies have the potential to help consumers and make markets more efficient. Yet, the effectiveness of disclosure policies can be undermined if firms strategically make unfavorable information unnecessarily complicated to understand. To explore the incentives for using complexity in...
Persistent link: https://www.econbiz.de/10012453045
Do firms release news strategically in response to investor inattention? We consider news about earnings and analyze the response of returns to announcements on Friday and other weekdays. Friday announcements have less immediate and more delayed stock return response. The delayed response as a...
Persistent link: https://www.econbiz.de/10012466993
Insiders can artificially deflect the market prices of financial instruments from their full-information or inside value' by issuing deceptive accounting reports. Incentive support for disinformational activity comes through forms of compensation that allow corporate insiders to profit...
Persistent link: https://www.econbiz.de/10012469064
Investing according to environmental, social, and governance (ESG) criteria is gaining momentum. Most environmental performance indices focus only on the tonnage of carbon dioxide (CO₂) emissions. This paper proposes an index covering eight pollutants expressed in monetary damage. Inclusion of...
Persistent link: https://www.econbiz.de/10012696363
We present updated estimates of central bank for 100 countries up through 2006 and use them to analyze both the determinants and consequences of monetary policy transparency in an integrated econometric framework. We establish that there has been significant movement in the direction of greater...
Persistent link: https://www.econbiz.de/10012463856
We propose a new framework for understanding the effectiveness of central bank announcements when firms have heterogeneous inflation expectations. Expectations are updated through social dynamics and, with heterogeneity, not all firms choose to operate, putting downward pressure on realized...
Persistent link: https://www.econbiz.de/10012458503
which financial globalization can be a substitute for reforms of domestic financial system. Inefficient financial system and … investment. While financial globalization always improves the welfare of a developed country with a good financial system, its … the world than many developing countries. A noteworthy feature of this theory is that financial and property rights …
Persistent link: https://www.econbiz.de/10012465505
financial world is not flat because poor governance prevents firms from being widely held and from taking full advantage of … financial globalization. Poor governance has implications for corporate finance as well as for macroeconomics. I show that poor …
Persistent link: https://www.econbiz.de/10012466759
Recent research has documented large differences between countries in ownership concentration in publicly traded firms, in the breadth and depth of capital markets, in dividend policies, and in the access of firms to external finance. We suggest that there is a common element to the explanations...
Persistent link: https://www.econbiz.de/10012471353