This study examines the performance of acquisitions in the Real Estate Investment Trust (REIT) industry around the acquisition announcement and in the long-run. The results suggest that the acquiring REITs experience statistically significant negative abnormal returns while the target REITs earn...

This paper investigates the increasing exposure of European households to risky financial assets and the consequent impact on the economy. I analyze household data for Italy and the United Kingdom, countries that differ dramatically in their financial structure and capital markets. I estimate an...

Mission drift in microfinance industry is becoming an ethical concern in the path of building a financially inclusive society. However, its dimensions and the reasons have not been ascertained conclusively. This paper tries to answer these issues with the help of a filtered dataset comprising of...

The paper investigates the links between homeownership, employment and earnings for which no consensus exists in the literature. Our analysis is cast within a dynamic setting and the endogeneity of each outcome is assessed through the estimation of a flexible panel multivariate model with random...

Using panel firm-level data, this paper analyses the main factors affecting firms' access to bank credit in eleven Euro Area countries over the period 2014-2016. We focus on firm's loan demand behaviour and on bank's actual credit granting decision, using alternative measures of credit...

This paper studies semiparametric identification in linear index discrete response panel data models with fixed effects. Departing from the classic binary response static panel data model, this paper examines identification in the binary response dynamic panel data model and the ordered response...

This paper provides a systematic approach to semiparametric identification that is based on statistical information. Identification can be regular or irregular, depending on whether the Fisher information for the parameter is positive or singular, respectively. I first characterize these two...

Price promotions (discounts) are a well-known means by which a supply chain can stimulate demand for a product. These promotions could affect demand for a product in three ways by: 1) increasing the overall market growth, 2) stealing market share from competitors, and/or 3) increasing the amount...

Part-time work among British women is extensive, and the (raw) pay penalty large. Since part-time work features most prominently when women are in their 30s, the peak childcare years and a crucial period for career building, its impact on subsequent earnings trajectories is important from a...

Analysing the US Panel Study of Income Dynamics, we present a new empirical method to investigate the extent to which households reduce their financial risk exposure when confronted with background risk. Our novel modelling approach – termed a deflated fractional ordered probit model –...