This paper examines the impact of the minimum wage legislation on firms' performance through the abnormal returns of share prices. Abnormal returns are estimated for events throughout the legislation in Hong Kong. Evidences show that the anticipated impact of the minimum wage on firms'...

This article examines the factors that are not considered in the Black–Scholes model in determining the price of warrants. Using the outstanding percentage as a threshold variable, we test for the existence of threshold effect in warrant prices. It is shown that for warrants with a low...

This paper examines the employment effects of minimum wage in a specific sector that corresponds closely to the notion of a competitive labor market, the foreign domestic helper market in Hong Kong. Our results show that a one percent increase in the minimum wage reduces 0.5 to 0.7 percent of...