In this paper, we examine the effect of shareholder rights on reducing the cost of equity and the impact of agency problems from free cash flow (FCF) on this effect. We find that firms with strong shareholder rights have a significantly lower implied cost of equity after controlling for risk...

This study examines the effect of firm-level corporate governance on the cost of equity capital in emerging markets and how the effect is influenced by country-level legal protection of investors. We find that firm-level corporate governance has a significantly negative effect on the cost of...

Based on the parallel growth implications of the four urban growth theories (endogenous growth theory, random growth theory, hybrid growth theory, and locational fundamentals theory), this paper uses the Chinese city size data from 1984-2006 and time series econometric techniques to test for...

In this paper we conduct a further analysis on the Brander and Eaton (1984) model of product line rivalry by examining two cases that have not been studied previously. The common feature shared by these two cases is asymmetry between firms. Specifically, we examine situations where either a) the...

type="main" <p>We extend the Brander and Eaton (1984) model of product line rivalry to study the effects of asymmetry between firms on the equilibrium outcome. Our analysis shows that market interlacing can emerge as the equilibrium outcome even in situations where market segmentation would have...</p>

Three urban growth theories predict parallel growth of cities. The endogenous growth theory predicts deterministic parallel growth; the random growth theory implies that city growth follows Gibrat’s law with a steady-state distribution; and the hybrid growth theory suggests the co-movement of...