In this paper, the first panel on sources of funding for Portuguese publicly owned museums is explored. There has been little work in this field worldwide, and none for Portugal. Evidence in this paper seems contrary to that relating to the UK and to the US. We find that incremental budgeting...

NGAs (Next Generation Access Networks) are a challenge to regulators and operators insofar as they require large investments, there is significant uncertainty about the ability to recover costs, and the choice of the appropriate regulatory regime is far from consensual. Regulatory authorities...

An implementation of enhanced versions of the classical Leaps and Bounds algorithm for variable selection is provided. Features of this implementation include: (i) The availability of general routines capable of handling many different statistical methodologies and comparison criteria. (ii)...

This paper describes a performance analysis of Portuguese secondary schools using data envelopment analysis (DEA). The type of assessment carried out in schools may be different depending on the perspective. Therefore we adopted in this paper two perspectives for assessing schools: a society...

In most of the land tenancy literature the type of contract is exogenous. Also even though these contracts vary a lot among farms, between regions and over time, the theoretical literature has not always acknowledged this idiosyncrasy. Building on the strategic bargaining theory initiated by...

We develop a new automatically-computable test for super exogeneity, using a variant of general-to-specific modelling. Based on the recent developments in impulse saturation applied to marginal models under the null that no impulses matter, we select the significant impulses for testing in the...

In most European countries, the private sector has a direct or indirect participation in the construction, overhaul, maintenance or operation of highways, normally through concession contracts with a pre-specified duration. The concession company is frequently remunerated through direct payments...

This study investigates the capital sources and uses of firms that are conducting stock repurchase transactions for the first time, both prior and subsequent to those financial operations. We hypothesize that this capital and cash flow analysis may shed some light about the relative importance...

We present univariate and multivariate evidence to show that firms which engage in initial stock repurchases have some specific economic and financial attributes when compared to size-and industry-matched firms. We find that initial repurchase firms are younger, have lower leverage and operating...

In this paper, we study the timing of initial stock repurchases for a sample of firms from their IPO onwards, using panel adjusted logistic regressions and hazard models to examine which variables may predict and theoretical hypotheses may explain these transactions. First, we find that initial...