This study empirically investigates the interrelationship between pay and performance of CEOs/board of directors in an emerging market, Pakistan. The study uses GMM approach to account for the problem of potential endogeneity and unobserved heterogeneity that arises due to the potential reverse...

The efficient market hypothesis (EMH), one of the central pillars of modern financial theories, often fails to explain the ‘financial anomalies'. One fatal challenge of EMH probably comes from the theoretical assumption of ‘rational man'. According to EMH, the fully rational investor may...

This study examined the relationship between ownership structure and performance of listed non-financial firms in Nigeria. Secondary data on managerial ownership, ownership concentration, foreign ownership, institutional ownership, Tobin q, return on assets, return on equities, and earnings per...

Spanish Abstract: La decisión de la localización empresarial es un factor clave para la determinación de sus beneficios dado que juega un papel importante en la generación de ventajas competitivas. Este trabajo analiza la influencia que tiene sobre la rentabilidad económica las empresas...

This paper analyses the effects of the EU Cohesion Policy (CP) on the economic growth of 276 European NUTS-2 regions between 2008 and 2016. Using a structural equation model (SEM) consisting of both a measurement component (with two latent variables) and a structural component, we estimate the...

Using the multiple indicator-multiple cause (MIMIC) approach, this paper generates a novel global database by estimating the size of the shadow economy for 157 countries over 1991 to 2017. The results suggest that the OECD countries are by far the lowest with values below 20% of off official GDP...

The Bank of Canada's new Quarterly Projection Model, QPM, Comnines the short-term dynamic properties necessary to support regular economic projections with the consistent behavioural structure necessary for policy analysis.

The experiential sampling method (ESM) was used to collect data from 74 parttime students who described and assessed the risks involved in their current activities when interrupted at random moments by text messages. The major categories of perceived risk were short-term in nature and involved...

Geroski and Walters (1995) conclude that changes in manufacturing output Granger caused changes in innovative activity and that the latter fluctuated pro-cyclically during the period 1948-83 in the UK. This note shows that their modelling method is inappropriate and results misleading....