How malleable are preferences? This paper provides experimental evidence on the extent to which insurance sellers can influence buyers and whether mandatory information disclosure offsets these effects. The experiment involves 214 subjects seeking or recently obtaining unsecured loans and 25...

Libya is still in the early stages of its financial liberalisation and reform following eleven years of political chaos and nearly three decades of central planning control. However, it is advancing as a result of the removal of UN and US sanctions during the last few years, and there are signs...

We document and account for two facts regarding the relation between international interest rates and total factor productivity (TFP) in a sample of developing countries. First, there is a negative correlation between both variables at quarterly frequency. Second, the share of agricultural labor...

Previous empirical studies of international CAPM models have not found much supporting evidence. In this paper we suggest reasons why this might have happened and perform new tests using improved models and data. A range of monthly CAPM models are estimated for 1973-1987 for aggregate equities...

The stock market capitalization (SMC) of a country, defined as the aggregated market value equity of companies in the respective equity market, is commonly used to measure the widening and deepening of stock market activity. SMC also influences economic growth predictions and public consensus...

In intertemporal choice experiments people usually choose between smaller-sooner and larger-later amounts of money. That is, they make tradeoffs in terms of nominal amounts. Yet the factor governing intertemporal tradeoffs in the marketplace is usually the interest rate. In this study, we tested...

This paper examines the impact of illusory control beliefs on the performance of traders in financial instruments. The authors argue that the task and environment faced by traders are conducive to the development of illusions of control and that individual propensity to illusion of control will...

How did companies at the Trade Center respond to the destruction brought about by the attack on September 11th? In this paper we look through the concrete and glass facade of the twin towers into the socio-technical networks of people, machines, and ideas that constituted the trading rooms. We...

The UK housing finance system is still recovering from the credit and financial crisis of 2007–2008. Some features of the system have made it particularly vulnerable to this crisis, notably the extent to which lenders have been reliant on the money markets and securitisation to enable them to...

The empirical motivation of this dissertation is the increasing importance of financialmarket’s regulation pursuant of the Sarbanes Oxley Act of 2002 (SOX). There is currentlyincomplete knowledge on the relationship between insider trading and earningsmanagement on the one hand and earnings...