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Trading while sleepy? : circadian mismatch and excess volatility in a global experimental asset market
Dickinson, David L.; Chaudhuri, Ananish; … - 2017
Traders in global markets operate at different local times-of-day. Suboptimal times-of-day may produce sleepiness due to daily variations in sleep/wake patterns and possibly also increased accumulation of hours awake. Global asset markets imply significantly increased heterogeneity in circadian...
Persistent link: https://www.econbiz.de/10011731909
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Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises
Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013
We test whether financial fluctuations affect firms' decisions, through their impact on banks' cost of funding. We exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010-2012 sovereign debt crisis. Using newly available data linking over...
Persistent link: https://www.econbiz.de/10010229932
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Mind, body, bubble! : psychological and biophysical dimensions of behavior in experimental asset markets
Butler, David J.; Cheung, Stephen L. - 2018
Asset market bubbles and crashes are a major source of economic instability and inefficiency. Sometimes ascribed to animal spirits or irrational exuberance, their source remains imperfectly understood. Experimental methods can isolate systematic deviations from an asset's fundamental value in a...
Persistent link: https://www.econbiz.de/10011870688
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How transparency kills information aggregation : theory and experiment
Fehrler, Sebastian; Hughes, Niall - 2015
under secrecy. This occurs despite subjects revealing more information under transparency than theory predicts. … concerned committee members receive private information of different type-dependent accuracy, deliberate and vote. We study … affects information aggregation at the deliberation and voting stages, leading to sharply different committee error rates than …
Persistent link: https://www.econbiz.de/10010516456
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Do board gender quotas matter? : selection, performance and stock market effects
Ferrari, Giulia; Ferraro, Valeria; Profeta, Paola; … - 2018
From business to politics and academia, the economic effects of the introduction of gender quotas are under scrutiny. We provide new evidence based on the introduction of mandatory gender quotas for boards of directors of Italian companies listed on the stock market. Comparing before and after...
Persistent link: https://www.econbiz.de/10011845209
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Why do firms pay an overtime premium?
Hart, Robert A.; Ma, Yue - 2000
wage-hours contracts within the framework of a two-period specific human capital model with asymmetric information. The …
Persistent link: https://www.econbiz.de/10011335237
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Corporate efficiency, credit status and investment
Quader, Manzur; Taylor, Karl - 2014
Using a panel of 1122 UK firms listed on the London Stock Exchange over the period of 1981 to 2009, endogenous switching regression models (SRM) incorporating a predicted corporate efficiency index are estimated in this paper in an effort to clarify the role of cash flow in examining the impact...
Persistent link: https://www.econbiz.de/10010379263
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Opportunity and inequality across generations
Koeniger, Winfried; Zanella, Carlo - 2022
We evaluate a temporary public sector employment program targeted at individuals with weak labor market attachment, applying dynamic inverse probability weighting to account for dynamic selection. We show that the program is successful in increasing employment and reducing social assistance....
Persistent link: https://www.econbiz.de/10012879620
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Second-degree moral hazard in a real-world credence goods market
Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2013
Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market …
Persistent link: https://www.econbiz.de/10010207314
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Healer or gatekeeper? : physicians' role conflict when symptoms are non-verifiable
Carlsen, Benedicte; Nyborg, Karine - 2017
indicates a substantial reluctance to reject patient requests for sickness certificates. We show that private information on the …
Persistent link: https://www.econbiz.de/10011647475