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Warrant Economics, Call-Put Policy Options and the Fallacies of Economic Theory
Hatgioannides, John - 2012
plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of … insiders' capitalism that we describe, trough the costless appropriation of an intricate cobweb of Call-Put structures, has … two sides of the Warrant Economics coin. We argue that the Warrant Economics state of capitalism has been legitimised by a …
Persistent link: https://www.econbiz.de/10013112775
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How Policy Changes Affect Shareholder Wealth : The Case of the Fukushima Daiichi Nuclear Disaster
Betzer, André - 2011
This paper analyzes how policy changes affect shareholder wealth in the context of environmental regulation. We exploit the unique and unexpected German reaction to the Fukushima Daiichi nuclear disaster, which involved the immediate shutdown of almost half of Germany's nuclear reactors while...
Persistent link: https://www.econbiz.de/10013121551
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Financial Liberalization and Democracy : The Role of Reform Reversals
Campos, Nauro F. - 2009
The relationship between economic and political liberalization has received a great deal of attention lately, yet the possibility of a nonlinear relationship and the role of reversals remain largely neglected. Focusing on democratization and financial reform, this paper offers evidence for a...
Persistent link: https://www.econbiz.de/10013157255
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Creativity over Time and Space
Serafinelli, Michel - 2019
Creativity is often highly concentrated in time and space, and across different domains. What explains the formation and decay of clusters of creativity? In this paper we match data on thousands of notable individuals born in Europe between the XIth and the XIXth century with historical data on...
Persistent link: https://www.econbiz.de/10012861308
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Neoliberalization and the Changing Roles of Stakeholders in State-Led Shantytown Redevelopment in Shenyang City, China
Li, Xin - 2016
Neoliberal politics in China have changed the roles of, and the interrelationships between, the state, the market and society in urban restructuring. Since 2008, the central state has initiated the Shantytown Redevelopment Projects (SRPs) to improve the living conditions of low-income residents....
Persistent link: https://www.econbiz.de/10012984848
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Beyond GDP and Back : What is the Value-Added by Additional Components of Welfare Measurement?
de New (née Kassenboehmer), Sonja C. - 2011
Recently, building on the highly polarizing Stiglitz report, a growing literature suggests that statistical offices and applied researchers explore other aspects of human welfare apart from material well-being, such as job security, crime, health, environmental factors and subjective...
Persistent link: https://www.econbiz.de/10013130791
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A Critique and Reframing of Personality in Labour Market Theory : Locus of Control and Labour Market Outcomes
Trzcinski, Eileen - 2011
This article critically examines the theoretical arguments that underlie the literature linking personality traits to economic outcomes and provides empirical evidence indicating that labour market outcomes influence personality outcomes. Based on data from the German Socio-Economic Panel, we...
Persistent link: https://www.econbiz.de/10013118524
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Investor Protection and the Value of Shares : Evidence from Statutory Rules Governing Variations of Shareholders' Class Rights in Russia
Muravyev, Alexander - 2010
This paper uses a quasi-experimental framework provided by recent changes in Russian corporate law to study the effect of investor protection on the value of shares. The legal change analyzed involves the empowerment of preferred (non-voting) shareholders to veto unfavorable changes in their...
Persistent link: https://www.econbiz.de/10013149514
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What Does Codetermination Do?
Jäger, Simon; Noy, Shakked; Schoefer, Benjamin - 2022
We provide a comprehensive overview of codetermination, i.e., worker representation in firms' governance and management. We cover the institution's history, implementation, and the best available evidence on its economic impacts. We argue that existing quasi-experimental estimates suggest that...
Persistent link: https://www.econbiz.de/10014088219
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Do Women Manage Smaller Funds?
Hübler, Olaf - 2010
Based on a sample of 467 asset managers from four countries we robustly find that women manage smaller funds than men, despite tough competition in this industry. Interestingly, the gender gap exists only for managers of smaller funds, i.e. at the lower end of the hierarchy, as quantile...
Persistent link: https://www.econbiz.de/10013147545