A considerable number of studies have examined the relationship between corporate governance (CG) structures and corporate performance (e.g., Yermack, 1996; Gompers et al., 2003; Beiner et al., 2006; Renders et al., 2010; Ntim et al., 2012; Kumar & Zattoni 2013; Griffin, et al., 2014). In contrast, despite its...

We test a sample of 3,586 banks from 33 European countries to determine whether performances above or below a social aspiration level (median performance of peer banks) influence banks' aggregate risk levels. Our results are consistent with the behavioral theory of the firm and prospect theory...

In this paper, we study how the coexistence of access regulations for legacy (copper) and fiber networks shapes the incentives to invest in network infrastructure. To this end, we develop a theoretical model explaining investment incentives by incumbent telecom operators and heterogeneous...

There is a general consensus in considering the public financing for LTC as a suitable proxy of the resources committed to elderly care by each Government. But the preciseness of this approximation depends on the extent to which LTC is representative of elderly care within a country. We...

We investigate the causal impact of retirement on health care utilization. Using SHARE data (from 2004 to 2013) for 10 European countries, we show that health care utilization increases when individuals retire. This is true both for the number of doctor's visits and for the intensity of medical...

This paper analyzes the determinants of the European Commission's NAIRU estimates for 14 European OECD countries during 1985-2012. The NAIRU is a poor proxy for 'structural unemployment': Labor market institutions - employment protection legislation, union density, tax wedge, minimum wages -...

This paper analyses economic developments in the Eurozone over the period 1999-2016 by developing a theoretical framework that traces divergent path developments across Eurozone countries to the times before the financial crisis. We argue that macroeconomic divergence between core and periphery...

The recent growth in foreign direct investment (FDI) has led to a proliferation of scholarly efforts to analyse the various dimensions of this phenomenon. Two main streams of research have emerged in the literature. The first analyses the economic effects of FDI inflows in the economy of the...

The main objective of the book is to evaluate the effects of EU policy instruments that promote a stronger European dimension of the R&D base in the European Union. This objective can be split into a few specific objectives, which are defined as follows: • Evaluation of the impact of public...