We present a model of wage contract violation that implies a possibility of multiple equilibria in the level of arrears. Positive feedback arises because each employer's arrears affect the costs of late payment faced by other employers operating in the same labor market, resulting in a network...

We organize an empirical analysis of Russian wage arrears around hypotheses concerning factors that create incentives for firms to pay late and for workers to tolerate late payment, both reinforced by a prevalent environment of overdue wages. Our analysis draws upon nationally representative...

This paper examines whether the introduction of corporate governance (CG) reforms in general and that of transparency and disclosure (T&D) rules in particular can necessarily boost firm performance. Existing literature suggests that CG reforms can boost performance because it can resolve the...

In this study that we are conducting, the end goal is to undertake a comparative analysis of the stock markets of Russia, China, South Africa, Argentina and Brazil.

The paper attempted to investigate the effectiveness and the efficiency of the Swiss banking sector, through the elaboration of solid econometric approaches focusing on solid scientific methodologies: effectiveness and efficiency. The two concepts make up a widespread in econometric literature,...

From the 1980s onwards the banking sectors in all the industrialised countries have been experiencing intense restructuring, aggregation and consolidation, radically changing their ownership structures and geography. Whatever the reasons behind such restructuring processes, the globalisation of...

In this paper, I have reviewed the past 20 years (from FY1989 to FY2008) of performance of the major banks in Japan and the impact of mergers of the banks from the viewpoint of EVA (Economic Value Added), one of the management indices. As a result of my analysis, I first found that the EVA of...