In this paper, we investigate the indirect economic effects of the Hizmet movement. Participants of the Hizmet movement have spread all around the world, opening various types of educational institutions (more than a thousand) ranging from kindergartens to universities since the early 1990s. The...

New Zealand recently initiated sweeping reforms to its social welfare program by cutting benefits and tightening eligibility criteria. One of the objectives of these reforms was to provide incentives for people to enter or re-enter the labor force. Econometric analysis is used in this paper to...

There is ample evidence that incentive-pay structures, such as tournaments, result in increased performance. Is this due to selection or increased individual effort, and is any increased individual effort caused by pecuniary incentives or merely thirst for the thrill of victory (TOV)? Prior...

This study examines the characteristics of corporate boards for 82 companies that attempted 106 acquisitions during the 1980s. We find that poor performance is more likely to occur in firms that have recently experienced higher turnover of outside and lower turnover of inside directors....

Abstract This research reports the results of an analysis of prize structures among competing firms paying tournament wages. In motorcycle racing, sponsors compete in an auction for riders using tournament prizes as bids. Since racers can only ride one bike and wear one helmet, they are forced...