Purpose – Seeks to analyze the role of population and wealth in determining capital movements between countries. Design/methodology/approach – By applying the Clark-Jokung 50 percent portfolio theorem, considers the specific case of a two country world where the cumulative conditional...

The problem that we address in this paper stems from the trend to delegation in the water management field. It refers to the municipality’s negotiating disadvantage in the face of cartelized water management firms that makes delegation, once undertaken, virtually irreversible. We show why the...

"In this paper we use UK data to present strong empirical evidence that explains the mixed results in previous studies with respect to the effect of financial distress on the demand for corporate hedging. We build on recent studies that have identified a strong link between foreign currency (FC)...