Ownership is the key building block in the development of the capitalist socio-economic system. It is not just a legal-economic construct; it has also personal, social, political, and economic value dimensions. The problem of not understanding the owners’ role or behaviour, either on...

We analyze how intellectual abilities and education affect investors’ risk-adjusted returns in the stock market. To investigate such effects, we use educational performance measured by standardized exams and the type and specialty of a university degree obtained.  The data used covers one...

In our recent work (Liivamägi, Vaarmets, & Talpsepp, 2014), we study how education and mental abilities affect investors’ risk adjusted performance on the stock market. We use a dataset from Tallinn stock exchange, covering stock market transactions from a full business cycle along with...

This paper investigates determinants of lending growth and cyclicality in banks of 15 Central and Eastern European countries during the period of 2004-2010. The results support, as expected, cyclicality in lending growth, but contrary to expectations, the association between GDP growth and...