Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality...

This paper analyzes annual accounting data for a sample of 5,000 publicly traded manufacturing firms from Germany, France, Italy, Japan, and the United Kingdom. The analysis uses data from 1997 to 2011 and finds an increasing trend of excess savings (defined as the difference between gross...

Stock exchanges around the world have launched Corporate Governance Indices (CGIs), sometimes as part of a broader Environment, Social, and Governance (ESG) initiative. The comprehensive analysis of these indices presented in this study is the first of its kind, and it reveals that CGIs have a...

The country studies in this volume analyze the link between globalization and working conditions in Cambodia, El Salvador, Honduras, Indonesia, and Madagascar. These countries vary significantly in population, economic circumstances, region, history, and institutions. All have experienced...

In developing and transition economies, microlending has become an effective instrument for providing micro businesses with the necessary financial resources to launch operations. In industrialized countries, with their highly developed banking systems, however, there has been ongoing debate on...