We test whether CEO and director turnover has any impact on firms' financial performance. The results derived from our sample indicate that, as measured by the subsequent three-year industry-adjusted return on assets, financial performance after CEO and/or director turnover worsens, on average....

In this paper we investigate whether the presence of private insurance leads to improved health status. Using the RAND version of the Health and Retirement Survey (for 2004 and 2008 waves) we focus on adults in late middle age who are nearing entry into Medicare. Estimation addresses endogeneity...

This article examines the concept of "professional diligence," which is the core element of the general clause of the Unfair Commercial Practices Directive (2005/29/EC). It proposes several ways to concrete the concept, in order to avoid as much as possible the uncertainty inherent to the...

This study provides evidence of bank heterogeneity in Colombiafor the period 2002-2014 and analyzes how bank-specific characteristics determine the bank-lending channel for monetary policy. Toanalyze bank heterogeneity, this study estimates technical (cost) efficiency using Stochastic Frontier...

Spain has traditionally been known as a country of emigrants. However, in the last decade, Spain has experienced an unprecedented boom of immigration from three localized areas: Latin America, Africa and East Europe. In this paper, we study the behaviour of recent immigrants in the Spanish...