Now showing items 141-150 of 175
Firm-Specific Variation and Openness in Emerging Markets
(2003-10-01)
This paper compares the comovement of individual stock returns across emerging markets. Campbell et al. (2001) and Morck et al. (2000) show that the US in the post war period saw rising firm specific stock return variations ...
Ceaseless Toil? Health and Labor Supply of the Elderly in Rural China
(2003-06-12)
Deborah Davis-Friedmann (1991) described the “retirement” pattern of the Chinese elderly in the prereform era as “ceaseless toil”: lacking sufficient means of support, the elderly had to work their entire lives. In this ...
Inequality of Outcomes and Inequality of Opportunities in Brazil
(2003-11-01)
This paper departs from John Roemer's theory of equality of opportunities. We seek to determine what part of observed outcome inequality may be attributed to differences in observed 'circumstances', including family ...
Getting the power equation right
(Wiley Subscription Services, Inc., A Wiley Company, 2003)
Leaders who succeed recognize the importance of building a team at the top.
Shadow Economy, Rent-Seeking Activities and the Perils of Reinforcement of the Rule of Law
(2003-03-12)
An economy is considered where a possibility to seek rents (a particular case of this activity is corruption) exists along with production. A producer is able to hide part of his output from both bribery and taxation. It ...
The Allocation and Monitoring Role of Capital Markets: Theory and International Evidence
(2003-10-01)
Capital markets perform two distinct functions: provision of capital and facilitation of good governance through information production and monitoring. I argue that the governance function has more impact on the efficiency ...
How Important is Ownership in a Market with Level Playing Field? The Indian Banking Sector Revisited
(2003-05-01)
It has long been argued that private ownership of firms leads to better firm performance. However, theory as well as empirical evidence suggest that factors like agency problems may not allow privately owned firms to operate ...
Exchange Rate Regimes and Volatility: Comparison of the Snake and Visegrad
(2003-10-01)
Exchange rate stability was defined as one of the prerequisites for monetary integration in Europe. In this paper, we analyze recent developments in the volatility of exchange rates of the Central European countries (the ...
Dividend (Vol. 34, No. 1, Spring, 2003)
(Graduate School of Business Administration, University of Michigan, 2003)