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We measure the sensitivity of investment to changes in investment opportunities in the shipping industry and test … that investment in commercial shipping follows freight rates, a measure of the potential income stream from owning a vessel … rates on investment, indicating a higher relative efficiency of capital allocation. The positive impact ownership has on the …
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follow passive index investment strategies. The paper also discusses the implications for corporate governance of corporate …
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A sizable literature on media bias suggests that media coverage is frequently biased towards certain political and economic positions. However, we know little about what drives variation in political and ideological bias in news coverage across countries. In this paper, we argue that...
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We analyze the effects of different types and concentration of ownership on performance using a population of firms in a model transition economy after mass privatization. Specifications based on first-differences and unusual instrumental variables show that contrary to conventional wisdom, the...
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