Past researches have revealed significant abnormal returns for bonus issues even though the bonus issue date is known in advance and the distribution contains no new information. This study examines the stock price reaction to the information content of bonus issues with a view of examining the...

Past researches have revealed significant abnormal returns for bonus issues even though the bonus issue date is known in advance and the distribution contains no new information. This study examines the stock price reaction to the information content of bonus issues with a view of examining the...

Share buybacks have become a common event in the financial markets worldwide. In a share buyback programme, the company distributes the excess cash flow among the shareholders by way of repurchasing its own shares, generally at a premium. Among the various reasons for doing so, the most...

There is very little evidence on the effects of the minimum wage on prices in the international literature and none whatsoever for developing countries. This paper analyzes the effects of the minimum wage on prices using monthly Brazilian household and price data from 1982 to 2000 aggregated at...

A key area of focus in the economic reform process and the design of a favorable business environment is labor market legislation. Montenegro has obviously failed in this area. After nearly 13 years since the beginning of the transition process, or five years since the beginning of Economic...

In many countries the shadow employment has a very high priority among policymakers. A new time series for this component of the labour market has been recently released by the Italian institute of statistics. Taken together they give the motivation and the occasion for a fresh analysis of the...

Using an econometric procedure that corrects for both self-selection of individuals into their preferred compensation scheme and wage endogeneity, this study investigates whether significant differences exist in the job satisfaction of individuals receiving performance- related pay (PRP)...

Instrumental variables (IV) estimates of the effect of fertility on female labor supply have only been able to identify the causal effect of second and higher-parity children. This study uses exogenous variation in fertility caused by the Chinese lunar calendar to identify the effect of the...

This communication reports on a work-in-progress project involving managers of Small and Medium Enterprises (SME) located in four Italian Regions: one of them is a historically less advantaged location. The research attempts to explore needs of training and education of managers and executives...

Trade unions have been important institutions of industrial society; they have helped deliver significant outcomes in terms of improved living standards, equity and justice to workers all over the world. However, at the end of the twentieth century, unions face a situation marked by the...