We examine the impact of R&D intensity and agency costs on the value of firms across 13 economies. We find that R&D adds value while high agency costs reduce value. R&D adds value, however, even when agency costs are high. We show that in those firms where agency costs are high and R&D intensity...

In this paper, a new alternative beta risk estimator method designed to offer better results when coping with the situation of extreme thin trading is presented for Latin American stocks. The method proposed is applied to a set of data in which the estimator is adjusted for censoring, that is,...

A changing climate and higher wind speeds means that residential construction is likely to receive more damage in the future if design standards are maintained at the current level. The vulnerability of residential construction may be reduced by an adaptation strategy that increases design wind...

This paper presents a method for estimating the effects of a policy change on an outcome distribution that uses a comparator quantile rather than a control group and provides methods for estimating the variances of the estimators. The empirical analysis presents estimates of “spillover”...

This paper presents the development of the Coastal Community Social Vulnerability Index (CCSVI) in order to quantify the social vulnerability of hurricane-prone areas under various scenarios of climate change. The 2004–2005 Atlantic hurricane seasons is estimated to have caused $150 billion...