Evidence from existing studies on the impact of minimum wage on firm profitability and shareholder wealth are inconsistent. One of the explanations is the different natures of event studied. This paper is motivated to offer evidence for the relationship of minimum wage and shareholder wealth...

We present a theorem helpful in estimating the mean and variance of a linear function with arbitrary multivariate randomness in its coefficients and variables. We derive a generalized decomposition result from two random linear functions in which the result can be applied to most models using...

This paper investigates the impact of a significant reform to the youth minimum wage in New Zealand in 2001, on the expectations of low wage employers' profits. In March 2001, the eligibility for adult minimum wage rates was lowered from 20 to 18 years while the youth minimum wage for 16-17 year...

This paper analyzes return patterns and determinants at the Oslo Stock Exchange (OSE) in the period 1980-2006. We find that a three-factor model containing the market, a size factor and a liquidity factor provides a reasonable fit for the cross-section of Norwegian stock returns. As expected,...