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Dynastic management
Caselli, Francesco; Gennaioli, Nicola - London School of Economics (LSE) - 2006
The most striking difference in corporate-governance arrangements between rich and poor countries is that the latter rely much more heavily on the dynastic family firm, where ownership and control are passed on from one generation to the other. We argue that if the heir to the family firm has no...
Persistent link: https://www.econbiz.de/10010928662
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Promoting SME development in Indonesia
Mourougane, Annabelle - Economics Department, Organisation de Coopération et … - 2012
Micro, small and medium-sized firms (MSMEs) are a key source of employment and economic growth in Indonesia. They …, curbing their role in boosting living standards. There are several ways to spur MSME productivity growth over the medium term …
Persistent link: https://www.econbiz.de/10011276943
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The finance-growth nexus in ceec: new evidence from a survey-based indicator of external financial dependence
D'alfonso, Elena; Moretti, Luigi - In: Economics Bulletin 32 (2012) 3, pp. 2688-2699
Following Rajan and Zingales's (1998) pioneering study, many empirical studies have tested the differential growth … development and its economic growth. We suggest a new indicator based on the new EU-Efige/Bruegel-UniCredit survey database, which … relationship between financial development and economic growth by analyzing a sample of Central and Eastern European economies …
Persistent link: https://www.econbiz.de/10011278651
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Agency Conflicts, Investment, and Asset Pricing
Albuquerque, Rui; Wang, Neng - National Bureau of Economic Research (NBER) - 2007
The separation of ownership and control allows controlling shareholders to pursue private benefits. We develop an analytically tractable dynamic stochastic general equilibrium model to study asset pricing and welfare implications of imperfect investor protection. Consistent with empirical...
Persistent link: https://www.econbiz.de/10005085388
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Financial Markets of the Middle East and North Africa: The Past and Present
Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2003
of financial markets seems necessary to accelerate economic growth. …
Persistent link: https://www.econbiz.de/10005150193
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Dynastic Management
Caselli, Francesco; Gennaioli, Nicola - Centre for Economic Performance, LSE - 2006
The most striking difference in corporate-governance arrangements between rich and poor countries is that the latter rely much more heavily on the dynastic family firm, where ownership and control are passed on from one generation to the other. We argue that if the heir to the family firm has no...
Persistent link: https://www.econbiz.de/10005150997
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Desarrollo del mercado accionario y crecimiento económico. Alguna evidencia para la Argentina
Lanteri, Luis N. - UNIVERSIDAD NACIONAL DE COLOMBIA SEDE MEDELLIN - 2011
Este trabajo examina la relación entre el desarrollo del mercado accionario y el crecimiento, en el caso de la economía Argentina. Se emplean tests de causalidad de Granger y de exogeneidad basados en modelos de VEC, con datos mensuales, que cubren el período 1993:1-2010:8. Los resultados...
Persistent link: https://www.econbiz.de/10009368511
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Medium-term Fluctuations and the "Great Ratios" of Economic Growth
Groth, Christian; Madsen, Jakob B. - Økonomisk Institut, Københavns Universitet - 2013
Evidence for the OECD countries show that the “great ratios”, such as the unemployment rate, factor shares, Tobin’s q and the investment-capital ratio, fluctuate significantly on medium-term frequencies of 10-40 years duration. To explain these medium-term fluctuations, we establish a...
Persistent link: https://www.econbiz.de/10010752710
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Aggregate Accruals and Market Returns : The Role of Aggregate M&A Activity
Heater, John C. - 2020
Extant literature documents that aggregate accruals positively predict future market returns and attributes this relation to either changes in discount rates or systematic earnings management. We offer an alternative explanation: aggregate merger and acquisition (M&A) activity drives this...
Persistent link: https://www.econbiz.de/10012846411
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Optimal Macroprudential Policy and Asset Price Bubbles
Biljanovska, Nina - 2019
An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytically and quantitatively that the macroprudential policy should optimally respond...
Persistent link: https://www.econbiz.de/10012862442