This paper examines the impact of corporate diversification and firm size on the value creation over the 1997-2005 period for twenty-five non-banking firms listed on Tunis Stock Exchange. Our results confirm previous studies in that shares of diversified firms sell at a discount. Moreover, value...

This paper examines the impact of corporate diversification and firm size on the value creation over the 1997-2005 period for twenty-five non-banking firms listed on Tunis Stock Exchange. Our results confirm previous studies in that shares of diversified firms sell at a discount. Moreover, value...

The aim of this study was to examine the extent to which crime affects the components of aggregate demand and vice versa for the case of Mexico, using quarterly data for the number of homicides and the components of aggregate demand for the period from 1990 to 2010. We estimated a Vector Error...

We analyze the impact of policing and socio-economic variables on crime in England and Wales during 1992-2007 using the quantile regression model which enables us to analyze different points of the crime distribution. The quantile regression model allows us to analyze whether or not the factors...

This paper uses recently unveiled monthly information from the Hellenic Ministry of Finance on tax audits targeted to large enterprises, high wealth individuals and VAT non-filers and finds evidence that an increase in the number of audits can boost revenue performance. A 1 percent increase in...

This paper shows a world where the individual practices concomitantly legal and illegal activities in two period of their lifetime. The results of the two-period model unveil that effectiveness of anti-money laundering policies and increase of probability of the agent to be apprehended and...

This note reassesses the basic result in Mukhopadhaya (2003) that, when jurors may acquire costly signals about a defendant's guilt, with a larger jury size the probability of reaching a correct verdict may in fact fall, contrary to the Condorcet Jury Theorem. We show that if the jurors...

Once a contract has been agreed by two agents, the problem of renegotiating breach under two-sided asymmetric information on the agents' outside options is equivalent to the problem of bilateral trade with uncertain gains. Thus, the theorem of Myerson and Satterthwaite (1983) implies the...

Only legal facts should affect the application of the death penalty. This maxim is manifested in the U.S. constitution and stipulated by the Supreme Court. With regard to extra-legal economic factors, it has been applied to practice from 1950 to 1990 with the exception of two states: For...

This paper admits that people are drug users and analyzes whether drug use affects the modified golden rule in the Ramsey model approach. The results show that in a steady state, this model's capital productivity is smaller than in the Ramsey model. However, the optimal intertemporal allocation...