Sentences for employers convicted of offences under NZ health and safety law have been subject to constraints from two main sources (i) legislation; and (ii) guideline judgment cases. Their effect is to effectively split sentencing into three distinct time periods, viz., the period following the...

The hold-up problem has played a central role in the study of firm boundaries, which is a fundamental element of the economic study of organizations. We study a previously unex-plored mechanism by which integration between two parties could resolve the problem. Based on the social identity...

One of the most popular univariate asymmetric conditional volatility models is the exponential GARCH (or EGARCH) specification. In addition to asymmetry, which captures the different effects on conditional volatility of positive and negative effects of equal magnitude, EGARCH can also...

Financial risk management is difficult at the best of times, but especially so in the presence of economic policy uncertainty. The purpose of this special issue on “Advances in Financial Risk Management and Economic Policy Uncertainty” is to highlight some areas of research in which novel...

Whether a market is thinly traded or not, the calculation of expected returns is a necessary ingredient in data processing for an event study. The method most commonly used is the market model. This often fails to meet the OLS requirement of normally distributed residuals, and tends to furnish...

Of the two most widely estimated univariate asymmetric conditional volatility models, the exponential GARCH (or EGARCH) specification can capture asymmetry, which refers to the different effects on conditional volatility of positive and negative effects of equal magnitude, and leverage, which...

This paper connects three subjects related to international financial markets -- (i) information asymmetry, (ii) market segmentation, and (iii) cross-listings -- and highlights their implication for event study methodology. When firms list equities on more than one exchange, and the exchanges...

This paper first reviews the attitude towards starting points for the sentence of fines (i) for the period following the 1994 guideline judgment in De Spa and prior to the commencement of the Sentencing Act 2002, and (ii) for the period following the implementation of both the Sentencing Act...

This study replicates Nijkamp & Poot (2004), henceforth N&P, and performs a variety of robustness checks. Using a sample of fiscal policy studies published between 1983-1998, N&P concluded that certain types of fiscal policies were more likely to confirm prior beliefs about their impact on...

This study investigates whether question format disadvantages certain types of students. I use assessment data compiled from principles of economics classes at the University of Canterbury from 2002-2008. I combine these with administrative data on student characteristics to create a...