News reports that carry positive or negative sentiment about a firm influence the firm’s stock price performance. This study examines the role of firm controllable marketing factors, namely, advertising spending and marketing capability, in moderating the relationship between news stories and firm stock returns. Drawing on a large panel data sample of over 7000 firmmonth observations, the resul...

This paper estimates the returns to experience and job tenure using a simultaneous equation model that accounts for the potential endogeneity of seniority in the wage determination process. It uses panel data for Italian workers’ histories based on social security records, for the years 1985-1999. This dataset has not been used for this research purpose to this date. The hypothesis of exogeneit...

The innovation value chain (IVC) divides the innovation process into three separate links or activities: knowledge gathering, knowledge transformation and knowledge exploitation. Here, we report a comparative panel data analysis of the IVC in Ireland and Switzerland. Both economies are small, very open and depend significantly on innovation to maintain competitive advantage. In recent years, ho...

this study examines technical efficiency in iran's banking system using unbalanced panel data for 17 state and private banks during the 1997-2009 period. therefore, technical efficiency of banks was measured through estimating a translog cost function in the form of a panel sfa error compound model. then, the effect of underlying factors including both individual and structural (ownership/...

The paper analyzes how international outsourcing affected individual employment security. The analysis is carried out at the micro-level, combining monthly spell data from household panel data and industry-level outsourcing measures. By utilizing micro-level data, problems such as aggregation and potential endogeneity bias, as well as crude skill approximations that regularly hamper industry le...

This study estimates agency’s impact on sugar plantation productivity using a unique early 19th century panel data set from St. Vincent and the Grenadines. Results of fixed effects models, combined with a qualitative and quantitative analysis of potential endogeneity of the agency variable, provide no evidence that estates managed by agents were less productive than those managed by their owner...

This paper evaluates the impact of the positive terms of trade (TOT) Shock on macroeconomic variables, using panel data for the six OPEC major oil exporting countries during 1989-2005. The findings indicate that the positive TOT shocks have the small and negative impact on savings and on the trade balance. Nevertheless, it has a positive impact on investment (specifically private investment) an...

The evidence presented by Haas and Stack (1983) suggests that a parabolic relationship exists between a nation's level of industrialization and the strike activity among its labor force. Their model is tested using data from a different time period. Criticisms of the original model, including problems of heteroskedasticity, autocorrelation and multicollinearity, are addressed here. The findings...

To date, little empirical evidence exists to help regulators understand why some firms comply even when there is little financial incentive to do so and others continually violate environmental regulations. This paper examines data on compliance with environmental regulations within the manufacturing sector in Mexico. The probability of complying depends, among other factors, on the kind of man...

Over the course of 15 years, between 1992 and 2007, Mexico carried out a major land titling program that handed out certificates over usage rights for more than 90% of its communally held land (ejidos). Importantly, formally specifying usage rights through certification can reduce ambiguity in claims to property. This paper analyzes the long run impact of this program using data from 1991 and 2...