1. Introduction and Overview. 2. Detecting Influential Observations and Outliers. 3. Detecting and Assessing Collinearity. 4. Applications and Remedies. 5. Research Issues and Directions for Extensions. Bibliography. Author Index. Subject Index.

Regression Diagnostics: Identifying Influential Data and Sources of Collinearity

机构投资者作为证券市场中的重要力量,越来越受到理论界和实务界的关注。论文对宾夕法尼亚大学沃顿商学院会计学教授布赖恩-布希（Brian Bushee）的论文＂The influence of institutional investors on myopic R＆D investment behavior＂（机构投资者对企业短视研发投资行为的影响,以下简称Bushee（1998））进行评价并提出相关的建议和研究方向。

《The influence of institutional investors on myopic R＆D investment behavior》述评

Enclosed is a copy of the Board of Governors’ Semiannual Agenda of Regulations for the period August 1, 1980 through February 1, 1981. The Semiannual Agenda provides you with information on those regulatory matters that the Board now has under consideration or anticipates considering over the next six months, and is divided into three parts: (1) regulatory matters that the Board had considered during the previous six months on which final action has been taken; (2) regulatory matters that have been proposed for public comment and that require further Board consideration; and (3) regulatory matters that the Board may consider over the next six months.

Federal Reserve Bank of New Yorkの制定せる財務諸表様式について

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]

Será que a desigualdade de rendimentos aumentou durante os últimos tempos? Quem ganhou e quem perdeu neste processo? Este processo afectou todos os países da OCDE uniformemente? Em que medida é que maiores desigualdades de rendimentos são a consequência de maiores diferenças nos rendimentos dos trabalhadores e até que ponto são afectados por outros factores? Finalmente, como é que a redistribuição governamental através do sistema de benefícios fiscais afecta estas tendências?

Book Review: OECD, Growing Unequal? Income Distribution and Poverty in OECD Countries:

Completion of the European Single Market Programme in Financial Services has, as expected, set in motion a rationalisation process within the European banking industry, as banks respond to increasing competitive pressures that are having a dampening effect on their traditional business margins. Assesses the importance of these developments in the context of the policy options that are open to the European banking community in the new millennium. In particular, given the prospect of an integrated European economy, now commonly referred to as Euroland, the paper addresses, as its central theme, the potential for the development of pan‐European banks that would then be in a position to configure longer‐term globalisation strategies. Evolution in this direction, if it occurs, is important from a European Central Bank policy perspective, since it would raise systemic risk issues if a small number of European licensed banks became “too big to fail”. We conclude, however, that the most prominent strategic respon...

Strategic challenges for the European banking industry in the new millennium

In the last few years, there has been an extensive debate as to whether ownership matters for bank performance in less developed countries. This paper investigates whether privately-owned banks outperform state-owned banks and whether foreign ownership enhances bank performance. Based on a range of performance ratios as well as parametric and non-parametric estimations, the results show that in Africa, on average, privately-owned banks do not appear to outperform state-owned banks. However, where private ownership involves foreign ownership then this does seem to have a positive effect on bank performance. Both sets of results are affected by high variance in the data suggesting that in state-owned and privately-owned banks and in domestic and foreign-owned banks there are widely differing levels of efficiency. In addition, we also test for the effects of ownership taking into account environmental, including regulatory, variables. The study reports results for banking across Africa and in two separate regions, North Africa and sub-Saharan Africa. We also test for country-level effects.

Does Ownership Affect the Efficiency of African Banks

In recent years many countries have privatised their state-owned banks and encouraged foreign investment. This article investigates the roles of state and private ownership and foreign and domestic ownership on the performance of banks across Latin America. Using a range of financial and economic ratios, data envelopment analysis (DEA) and regression modelling, the study reveals that by 2001 there was surprisingly little difference in performance between state-owned and privately-owned banks and between foreign and domestically-owned banks. The study also reports significantly different levels of bank performance in different Latin American countries, suggesting that country differences outweighed ownership differences in explaining performance.

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The Effects of Ownership on Bank Efficiency in Latin America

Historically, the development of the financial sector has been an indispensable driver of economic growth In the aftermath of the Great Recession, there is a pressing need to reassess the role of the financial sector in the determination of economic growth Using a dynamic panel framework, our analysis covers 34 European and Commonwealth of Independent States economies for the period 1998â€“2014 and controls for the role of macroeconomic and institutional variables Our evidence suggests that the potential benefits of the financial sector finance may have dramatically reversed in recent years, resulting in â€œunâ€ creative destructionâ€ The results suggest, tentatively, that there has been a severance of the link between the financial sector and the real economy The results, however, vary according to the level of economic development across the European and Commonwealth of Independent States economies In the case of developing market economies, the financial intermediation proxies are not significant in explaining economic growth The effect of changes in investment expenditure, the money supply, wages, unit labour costs, and trade openness is found to be strong and in line with a priori expectations across all country samples Notably, government consumption is also found to be a significant driver of economic growth, except in the developing market economies in the period following the Great Recession In line with the growing consensus in other research areas, we provide evidence of a robust role for the institutional framework proxied by the quality of governance in determining economic development

/pdf/reassessing-the-relationship-between-the-financial-sector-2ofgn9j9km.pdf

Joseph G. Nellis

Papers

Strategic challenges for the European banking industry in the new millennium

Does Ownership Affect the Efficiency of African Banks

The Effects of Ownership on Bank Efficiency in Latin America

Reassessing the relationship between the financial sector and economic growth: Dynamic panel evidence

The application of hedonic indexing methods: A study of house prices in the United Kingdom