计量经济分析 = Econometric analysis

Econometric policy evaluation: A critique

How the mind works

THIS paper is concerned with those actions of business firms which have harmful effects on others. The standard example is that of a factory the smoke from which has harmful effects on those occupying neighbouring properties. The economic analysis of such a situation has usually proceeded in terms of a divergence between the private and social product of the far' ory, in which economists have largely followed the treatment of Pigou in The Economics of Welfare. The conclusions to which this kind of analyris seems to have led most economists is that it would be desirable to make the owner of the factory liable for the damage caused to those injured by the smoke, or alternatively, to place a tax on the factory owner varying with the amount of smoke produced and equivalent in money terms to the damage it would cause, or finally, to exclude the factory from residential districts (and presumably from other

闡釋《社會成本問題》[The Problem of Social Cost]

Handbook of the Economics of Finance

Social institutions, corporate governance and firm-performance in the MENA region

Microsurvey data are used to explore the impact of ownership structure and other firm-specific characteristics on firms’ access to finance in 136 developing countries. The analysis uses a consistent and large data set from the World Bank’s Enterprise Surveys (ESs). The results show that ownership structure is a significant predictor of firms’ access to finance but with qualifications. Specifically, private and foreign ownership are more robust predictors of firms financing constraints in developing countries, whilst government ownership and large owners appear significant in accordance with the controlling conditions and mostly in low-income countries. The predictive power and direction of firms’ ownership structure is mitigated by both the specific characteristics of firms and the manner in which country-level factors affect the level of economic and financial activity in a country as well as the individual and social behaviour towards financial contracting.

Ownership structure and access to finance in developing countries

This article examines the existence of herding behaviour in the Egyptian stock market during the 2011 revolution period. Using daily and monthly data, we test for the existence of herding for the w...

Charilaos Mertzanis

Papers

Social institutions, corporate governance and firm-performance in the MENA region

Ownership structure and access to finance in developing countries

Political Instability and Herding Behaviour: Evidence from Egypt’s Stock Market:

Epidemiological susceptibility risk and tourist flows around the world

What services do Muslim tourists want? Uncovering nonlinear relationships and unobserved heterogeneity