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We provide evidence of an inherent trade-off between access regulation and investment incentives in telecommunications by using a comprehensive data set covering 70+ fixed-line operators in 20 countries over 10 years. Our econometric model accommodates: different investment incentives for...
Persistent link: https://www.econbiz.de/10010270806
A new test for constant correlation is proposed. Based on the bivariate Student-t distribution, this test is derived as Lagrange multiplier (LM) test. Whereas most of the traditional tests (e.g. Jennrich, 1970, Tang, 1995 and Goetzmann, Li & Rouwenhorst, 2005) specify the unknown correlations as...
Persistent link: https://www.econbiz.de/10010273762
Persistent link: https://www.econbiz.de/10010281476
based on social norms, might explain these findings and are consistent with cross-national evidence from the World Values …
Persistent link: https://www.econbiz.de/10010281481
This paper employs a Markov regime-switching approach to investigate whether the Great Moderation is over since the start of the late 2000s recession. The results confirm that the recent financial crisis did cause a simultaneous high-volatility period among the G7 countries. However, the...
Persistent link: https://www.econbiz.de/10010281484
This paper discusses empirical evidence on the economic consequences of mandatory adoption of International Financial Reporting Standards (IFRS) in the European Union (EU) and provides suggestions on how future research can add to our understanding of these effects. Based on the explicitly...
Persistent link: https://www.econbiz.de/10010281486
In 2007 and 2008 world food markets observed a significant price boom. Crop failures simultaneously occurring in some … of the world's major production regions have been quoted as one factor among others for the price boom. Against this … assumptions compared with linear correlations. The use of copulas allows for a more reliable estimation of extreme yield …
Persistent link: https://www.econbiz.de/10010281505
adoption on the comparability of financial accounting information around the world. Our results suggest that while mandatory …
Persistent link: https://www.econbiz.de/10010281527
Basel III introduces for the first time an international framework for liquidity risk regulation, reflecting the experience of excessive liquidity risk taking of banks in the run up to the financial crisis that erupted in August 2007, and associated negative externalities. As central banks play...
Persistent link: https://www.econbiz.de/10010281532
of mandatory IFRS adoption on the comparability of financial accounting information around the world. Using two …
Persistent link: https://www.econbiz.de/10010281535