The purpose of the paper is to present a real option valuation (ROV) model that will help to measure the value of managerial flexibility. The value of managerial flexibility appears to play a pivotal role nowadays, given the transition nature of Latvian economy. There are few academic works on...

We study bank discrimination against private firms in transition countries. Theoretically, we show that banks may discriminate for non-profit reasons, but this discrimination diminishes with a bank’s incentives and human capital. Employing matching bank-firm data from China, we empirically...

We compare several income distributions in urban China in the late 1980s and mid-1990s using tests for stochastic dominance in order to decompose gender differentials. Examination of the entire distribution gives insight into the uniformity of such differentials across the distribution....

We address the attractiveness of Central Eastern European countries for VC/PE investors by the construction of a composite index. For the index composition we refer to the results of numerous prior research papers that investigate relevant parameters determining entrepreneurial activity and/or...

This article analyzes multiple job holding in the context of economic transition. Evidence from a nationally representative longitudinal survey of Russian citizens is used to characterize secondary jobs and second job holders, with emphasis on the determinants of multiple job holding. There has...

Following the dissolution of the Soviet Union in December 1991, Russia experienced a series of economic shocks, resulting in large decreases in output but limited change in employment. Using information contained in a nationally representative longitudinal survey of Russian citizens, this...

North-eastern Estonia and its centre, the town of Narva, had traditionally been a significant centre for industry and transit cargo between Russia and the West. The region's contribution to national output had been substantial. During World War II, Narva was virtually destroyed. The policies of...

<p>Abstract Survey data is used to examine the relationship between changes in indicators of poverty and inequality in Russia and the subjective quality of life and mental health of rural residents in that country from 1991 to 2006. The effect of changes in incidences of poverty and inequality on...</p>

This paper attempts to address a puzzle in China’s investment pattern: despite high aggregate investment and remarkable economic growth, negative net investment is commonly found at the microeconomic level. Using a large firm-level dataset, we test three hypotheses to explain the...