As the phenomenon of corporate social responsibility (CSR) establishes itself more globally, the question arises as to the nature of CSR in developing countries. Vietnam is one example of a developing country undergoing rapid economic growth coupled with societal challenges, driven by increased...

This study examines a market-wide liquidity measure based on the systematic deviations from Put-Call parity in the U.S. equity option markets. We show that this implied liquidity measure provides forward-looking information about market returns and significantly explains the cross-sectional...

This paper is aimed at investigating the effect of ownership structure and firm size on firm growth. While the relationship between ownership structure and firm performance has been discussed in numerous studies, inadequate attention is drawn on the correlation between ownership structure and...

Traditional benchmarks to assess performance rely on unconditional rankings or regional averages. This paper uses a recently developed methodology based on quantile regressions and initial conditions to propose alternative benchmarks for social sectors in Kyrgyz Republic. Covering a wide set of...

Theoretical studies show that shocks to funding constraints should affect and be affected by market illiquidity. However, little is known about the empirical magnitude of such responses because of the intrinsic endogeneity of illiquidity shocks. This paper adopts an identification technique...

Analyzing a novel collateral haircut dataset, this paper investigates the relations between the collateral haircuts and the yields of Euro-area central government bonds. The empirical analysis shows that investors demand higher yields for bonds with higher collateral haircuts. The importance of...