This article examines the major differences in the accounting and stock market characteristics of banking organizations that use derivatives relative to those that do not.

Directors' Dealings have been extensively analysed especially for U.S. and U.K. stock markets. This event study is meant to bridge the gap for Germany, Italy and the Netherlands. The question to be investigated is whether board members and other company insiders earn abnormal returns with market...

First, the institutions of direct democracy, referendum and initiative, are described. One of the main arguments against direct political rights is that citizens are often, or even generally, not enough informed or even incompetent to decide on important political issues. Therefore, the problem...