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Recently there has been a heated debate on what are the major reasons of the global financial crisis in the economic literature. Among many theories proposed, the global saving glut hypothesis is wide...
I use a sample of 409 companies that restated their earnings from 1997 to 2001 to examine penalties for outside directors, particularly audit committee members, when their companies experience account...
We examine how patent wars affect firm strategy. We hypothesize that, as patent wars intensify, firms shift their business foci to markets with weak intellectual property (IP) protection due to increa...
We develop a new survey instrument to codify CEOs' diaries in large samples and use it to measure the labor supply of 1,114 family and professional CEOs of manufacturing firms across six countries (Br...
We test the effectiveness of self-help peer groups as a commitment device for precautionary savings, through two randomized field experiments among 2,687 Chilean micro-entrepreneurs. The first experim...
COMPARING THE RESOURCE-BASED AND MARKET-BASED V IEWS OF THE FIRM: EMPIRICAL EVIDENCE FROM CZECH PRIVATIZATION.
This paper empirically investigates the relationship between the health care expenditure of terminally-ill patients and hospital characteristics in Taiwan where (1) hospitals of different ownership an...
We investigate whether increased geographic concentration of human capital generates positive externalities that benefit firms located in the area. Using a panel of Chinese manufacturing firms, we fin...
This article measures the impacts of historic preservation regulations on property values inside and outside of officially designated historic districts. The analysis relies on a model of historic des...
Objective. This article gleans important lessons for environmental justice (EJ) policy from the empirical literature and demonstrates them using EJ analyses of Superfund sites. It constructively criti...
IN RECENT YEARS, there has been increased interest in bringing economics and politics together to understand policy. This resurgence of political economy has generated new questions and new models. In...
The paper is devoted to statistical analysis of zero intelligence models of continuous double auction, in particular to an estimation of parameters of limit order books. We review "classical" zero int...
The channels by which better health leads to higher income, and those by which higher income protects health status, are of interest to both researchers and policy makers. In general, quantifying th...
Do employers substitute adults for children, or do they treat them as complements? Using data from a Mexican schooling experiment, I find that decreasing child farmwork is accompanied by increasing ad...
Using data from the 1998–99 ECLS-K cohort, we show that the grades awarded by teachers are not aligned with test scores. Girls in every racial category outperform boys on reading tests, while boys sco...

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