Evidence from a half century of experience by U.S. states identifies nonlinearities in the effects of debt and fiscal policy on growth. Effects are Keynesian for low to moderate levels of debt and stimulus but anti Keynesian for sufficiently high levels of debt or stimulus. Results are broadly...

Behind a consumer’s decision to purchase a product/service there is always a reason or a complex of reasons, and behind rejecting a product/service there is always the consumer’s conclusion that, by its competences, that respective product/service will not fulfil that respective need at the...

This paper provides a review of significant academic studies and non-academic research endeavors in the realm of negative emotions (with an emphasis on worry), gender, and decision making. The author encourages behavioral finance researchers to place greater attention into the development of new...

This paper provides empirical evidence on the link between stock market volatility and macroeconomic uncertainty. We show that US stock market volatility is significantly related to the dispersion in economic forecasts from SPF survey participants over the period from 1969 to 1996. This link is...

In this paper, I examine how expectations management for the purpose of meeting or beating analyst expectations (MBE) impairs the ability of analyst forecast-based valuation models to predict firms' intrinsic values. I predict that management's manipulation of analyst expectations introduces...

This study investigates the distributional characteristics and appropriate remedial actions of selected financial ratios from failed and non-failed Malaysian listed firms. A total of 66 listed firms with 330 observations and 65 variables were examined for the period from 1980 to 1996. The...

Adam Smith's discussion of the system of natural liberty, its effects on the functioning of the market system, and the resultant implications for the economic role of the state has formed the basis of much of the subsequent economic literature analyzing the interplay of market and state. While...

According to Wikipedia, Finance quot;studies and addresses the ways in which individuals, businesses and organizations raise, allocate and use monetary resources over time.quot; To many people, finance is business. Many of the brightest stars in the business world - from Wall Street bankers to...

This paper aims at showing the relevance of procedural utility for economics: people do not only care about outcomes, as usually assumed in economics, they also value the processes and conditions leading to outcomes. The psychological foundations of procedural utility are outlined and it is...

Given the many and varied uses to which journal rankings are put, interest in ranking journal 'quality' is likely to persist. Unfortunately, existing methods of constructing such rankings all have inherent limitations. This paper proposes a new (complementary) approach, based on submissions to...