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Complementarities in Corporate Governance: Ownership Concentration, Capital Structure, Monitoring and Pecuniary Incentives

Heinrich, Ralph P. - 2000

The paper shows that, as owners accumulate larger stakes and hence become less risk-tolerant, their incentives to monitor management are attenuated because monitoring shifts some of the firm's risk from management to owners. This counterbalances the positive effect which more concentrated...

Persistent link: https://www.econbiz.de/10010260562

Noise Traders? Trigger Rates, FX Options, and Smiles

Pierdzioch, Christian - 2000

A contingent claims valuation model which allows to highlight the implications of program trading in spot markets for the pricing of European-style foreign currency options and for the volatility strike structure implicit in these contracts is devoloped. The curvature of the volatility strike...

Persistent link: https://www.econbiz.de/10010260624

The Effects of Japanese Foreign Exchange Market Interventions on the Yen/U.S. Dollar Exchange Rate Volatility

Frenkel, Michael; Pierdzioch, Christian; Stadtmann, Georg - 2003

Bank of Japan (BoJ) and exchange rate volatility. We use official intervention data for the period 1993-2000 that were …

Persistent link: https://www.econbiz.de/10010260629

Will stability last?

Martin, William; Rowthorn, Robert - 2004

the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic …

Persistent link: https://www.econbiz.de/10010261075

Fertility, mortality, and the developed worlds demographic transition

Fehr, Hans; Jokisch, Sabine; Kotlikoff, Laurence J. - 2004

.S., Japan, and the EU-15 – and incorporates age- and time-specific fertility and mortality rates, detailed fiscal institutions …

Persistent link: https://www.econbiz.de/10010261077

Policy mix and debt sustainability : evidence from fiscal policy rules

Claeys, Peter - 2005

This paper characterises rules-based fiscal policy setting. Basically, we translate a standard monetary policy rule into a simple fiscal policy rule. We then infer on fiscal policymakers' reaction coefficients by testing the rule with GMM. Interaction is also tested directly by the inclusion of...

Persistent link: https://www.econbiz.de/10010261142

Labor Market Incorporation of Immigrants in Japan and the United States: A Comparative Analysis

Cornelius, Wayne A.; Tsuda, Takeyuki - 2002

.g., gender, ethnicity) has a much greater impact on immigrant wages in Japan than in the United States. Although the use of … Hamamatsu, whereas it is negative in San Diego. The paper draws on data from ethnographic studies in Japan and California to …

Persistent link: https://www.econbiz.de/10010262776

Complementarities in Corporate Governance - A Survey of the Literature with Special Emphasis on Japan

Heinrich, Ralph P. - 1999

The present paper uses a comparison of Japan and the US to argue that the debate about corporate governance reform is …

Persistent link: https://www.econbiz.de/10010274194

Divergence – Is it geography?

Straubhaar, Thomas; Suhrcke, Marc; Urban, Dieter M. - 2002

This paper tests a geography and growth model using regional data for Europe, the US, and Japan. We set up a standard …

Persistent link: https://www.econbiz.de/10010295504

Do energy prices induce progress in energy-related technology? An empirical study

Schmitz, Simon - 2001

the US, Japan and the major European countries in order to estimate the effect of energy prices on energy … significantly positively correlated with innovation in both Japan and the EU. A tentative interpretation might be that a rise in …. Furthermore, the tax ratio, which has consistently risen in Japan and especially the EU, could be seen as an indicator for …

Persistent link: https://www.econbiz.de/10010295565