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A Scorecard for Indexed Government Debt
Campbell, John Y.; Shiller, Robert J. - 2021
Within the last five years, Canada, Sweden and New Zealand have joined the ranks of the United Kingdom and other countries in issuing government bonds that are indexed to inflation. Some observers of the experience in these countries have argued that the United States should follow suit. This...
Persistent link: https://www.econbiz.de/10013234354
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The Valuation Channel of External Adjustment
Ghironi, Fabio Pietro - 2007
Ongoing international financial integration has greatly increased foreign asset holdings across countries, enhancing … claims to firm profits in a production economy. For a given level of international financial integration (measured by the … goods, and the persistence of shocks. Finally, moving from less to more international financial integration, risk sharing …
Persistent link: https://www.econbiz.de/10012777584
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Gender, Source Country Characteristics and Labor Market Assimilation Among Immigrants : 1980-2000
Blau, Francine D. - 2008
We use 1980, 1990 and 2000 Census data to study the impact of source country characteristics on the labor supply assimilation profiles of married adult immigrant women and men. Women migrating from countries where women have high relative labor force participation rates work substantially more...
Persistent link: https://www.econbiz.de/10012770096
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The Effect of Hospital/Physician Integration on Hospital Choice
Baker, Laurence C. - 2015
In this paper, we estimate how hospital ownership of physicians' practices affects their patients' hospital choices. We match data on the hospital admissions of Medicare beneficiaries, including the identity of their admitting physician, with data on the identity of the owner of the admitting...
Persistent link: https://www.econbiz.de/10013016664
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Liquidity Mergers
Almeida, Heitor - 2011
We study the interplay between corporate liquidity and asset reallocation opportunities. Our model shows that financially distressed firms are acquired by liquid firms in their industries even when there are no operational synergies associated with the merger. We call these transactions...
Persistent link: https://www.econbiz.de/10013130982
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Globalization, Governance, and the Returns to Cross-Border Acquisitions
Ellis, Jesse A. - 2011
Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...
Persistent link: https://www.econbiz.de/10013131665
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Shareholder Democracy in Canada
Morck, Randall - 2010
The federal government stands poised to exercise its constitutional right to regulate financial markets, an area traditionally left to competing provincial securities commissions. The current state of securities regulation renders impotent US-style takeover defences, such as poison pills and...
Persistent link: https://www.econbiz.de/10013135809
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Is There Discretion in Wage Setting? a Test Using Takeover Legislation
Bertrand, Marianne - 2010
Anecdotal evidence suggests that uncontrolled managers let wages rise above competitive levels. Testing this popular perception has proven difficult, however, because independent variation in the extent of managerial discretion is needed. In this paper, we use states' passage of anti-takeover...
Persistent link: https://www.econbiz.de/10013137228
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CEO Preferences and Acquisitions
Jenter, Dirk - 2011
This paper explores the impact of target CEOs' retirement preferences on the incidence, the pricing, and the outcomes of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone benefits of staying employed until the planned retirement...
Persistent link: https://www.econbiz.de/10013117399
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The Effect of Liquidity on Governance
Edmans, Alex - 2011
This paper studies the effect of stock liquidity on blockholders' choice of governance mechanisms. We focus on hedge funds as they are unconstrained by legal restrictions and business ties, and thus have all governance channels at their disposal. Since the threat of governance, not just actual...
Persistent link: https://www.econbiz.de/10013118841