The paper intends to contribute to a better understanding of the interactions between criminality, economic performance and social cohesion. We try to achieve this aim by evaluating the existing economic and criminological research and by carrying out own empirical investigation on the basis of international panel data sets from different levels of regional aggregation. Our empirical results wi...

This paper explores whether ownership matters in a fundamental sense by comparing the performance of stockholder-owned firms to the much less analyzed ownerless firms, where no stakeholder has residual cash flow rights and control rights are shared by customers, employees, and the community. Controlling for differences in size and risk and only comparing firms within the same industry, we find ...

We evaluate the performance of fixed income mutual funds using stochastic discount factors motivated by continuous-time term structure models. Time-aggregation of these models for discrete returns generates new empirical "factors," and these factors contribute significant explanatory power to the models. We provide a conditional performance evaluation for US fixed income mutual funds, condition...

Our research group seeks to understand how corporations can effect long-term commitments to economic prosperity and sustainability; and in particular, how such corporate commitments cascade through the organization and are implemented from the boardroom to the shop floor of the manufacturing facility. Our long-term goal is to examine the corporation from a sustainability perspective, where we w...

This paper examines the relationship between the party in control of the state government and the economic performance of the state over six four-year periods covering the years 1978 to 2002. The main finding is that the political variables, that is, what party controls the executive branch and what party controls the legislative branch of the state government, have no significant effect on the...

It is well known that if costlessly enforceable contracts regulate all of the actions of economic actors that a ect the well being of others, competitive equilibria are Pareto e cient regardless of the distribution of wealth. However where actions such as risk taking and hard work are not subject to such contracts, the assignment of residual claimancy over income streams and control over assets...

States that were represented by very senior Democratic congressmen grew more quickly during the 1953–1990 period than states that were represented by more junior congressional delegations. States with a large fraction of politically competitive House districts also grew faster than average. The first finding is consistent with traditional legislator-based models of distributive politics, the se...

in this paper the ability of economic and accounting performance measures in explaining values of companies have been evaluated. economic value added, refined economic value added and market value added are as economic performance measures and net income, operating income and operating cash flows is considered as accounting performance measures. in order to data analyzing and testing the search...

economic data and performance records from 10 iranian holstein dairy cattle herds, as well as milk production and fertility records from iranian center of animal breeding and animal production improvment were used to estimate the effect of calving difficulty on milk production, fertility and as well on the economic aspects of maternal and direct calving difficulty. calving difficulty could be d...