Liquidity provision through its repo auctions has been one of the main instrumentsof the European Central Bank (ECB) to address the recent tensions infinancial markets since summer 2007. In this paper, we analyse banks’ biddingbehaviour in the ECB’s main refinancing operations (MROs) during...

This paper deals with two, potentially intertwined issues of stock exchangegovernance. First, we demonstrate in a static global games model that in-vestment propensity will vary across di®erent types of organizational formsand competition scenarios. Exchanges organized as mutuals are...

We use a panel vector autoregressions model to examine the coevolution of changes in happinessand changes in income, health, marital status as well as employment status for the BritishHousehold Panel Survey (BHPS) data set. This technique allows us to simultaneously analyzethe impact of the...

Sub-Saharan Africa (SSA) ranks as the second most unequal region globally (in terms of income distribution), harboring 10 of the 19 most unequal countries in the world. This paper explores the channels through which income inequality exerts its effects on economic growth in SSA. The study spans...

What difference does government support of business R&D make to the rate of innovation? Addressing this important question has deep theoretical roots and broadening practical applications in OECD countries. The analysis of output additionality has been hampered by incomplete data combined with...

We study scar formation and persistence after a house price bubble has burst using data on 3,089 US counties and county equivalents over the period 1980q1-2019q4. We date house price booms and busts for each county, and identify periods with explosive house price developments. Applying a sharp...

The purpose of this study is twofold. First, this study investigates the trends of corporate social responsibility (CSR) reporting and financial performance (FP) in commercial banks in Poland. Second, this study examines the impact of the CSR disclosure of the banks on their financial...

Research Question: What are the interaction effects and links between the cash conversion cycle components? Motivation: One of the major difficulties in studying the links between the components of the cash conversion cycle is the fact that each of them is a determinant of the others. Idea: We...

This study analyzes five of the well-known and most cited distress prediction models in the literature. The models are implemented to continuous publicly listed industrial firms in Turkey through their original and re-estimated coefficients in a comparative way to examine their generalizability...

This paper develops an early warning system for predicting distress for large European banks. Using a novel definition of distress derived from banks' headroom above regulatory requirements, we investigate the performance of three machine learning techniques against the traditional logistic...