We draw on stylized facts from the finance literature to build a model where altering the relative costs of bank and bond financing changes the entire distribution of firm size, with implications for the aggregate capital stock, output, and welfare. Reducing transactions costs in the bond market increases the output and profits of mid-sized firms at the expense of both the largest and smallest ...

Deregulation policy has caused some changes in the concepts of power systems reliability assessment and enhancement. In this paper, generation reliability is considered and a method for its assessment using intelligent systems is proposed. Also, because of power market and generators’ forced outages stochastic behavior, Monte Carlo Simulation is used for reliability evaluation. Generation relia...

This paper compares the performance of regional banks and national banks in Korea for the period of 19922004 by examining how the profitability of these two groups differs, identifying major determinants of profitability for each group, and explaining their similarities and differences. Two competing hypotheses, the market power hypothesis and the efficient structure hypothesis, are tested in a...

The efficient market hypothesis states that an efficient market immediately incorporates all available information into the price of the traded entity. It is well established that the stock market is not an efficient market as it consists of numerous traders with differing strategies and interpretations of information. However there is substantial evidence to suggest that the stock market does ...

Supermarkets and hypermarkets already dominate the markets of some larger cities, and their continued expansion from major cities into smaller cities is expected to further drive competition in the grocery retail sector. Of the various retail channels, hypermarkets are expected to have the most growth potential in the Chinese market and are benefitting from consumer trends toward convenience an...

Most skills acquired through on-the-job training may be specific to an occupation and therefore transferable to some but not all firms. However, economists have typically focused on skills that are either specific to a given firm or skills that are completely general. This paper explores the relationship between the size of the local market for an occupation-specific skill and job-training outc...

This paper investigates the consequences of imperfect and uneven factor market development for farm efficiency in rural China. In particular, we estimate the extent to which an inverse relationship in farm productivity can be attributed to the administrative (instead of market) allocation of land, and the extent of unevenly developed non-agricultural opportunities. Using a recently collected ho...

This paper communicates the overall behaviour of the stock exchange. Basically, stock exchange is marketing for companies/group(s) assets to sell their shares and in-return generates revenues to invest and grow their company/business. The attitude of giant investors keeps on changing their move to destabilise the market so that the trivial investors cannot become stable/grow and compel to sell ...

This paper assesses the impact of product market competition on job instability. Product market competition is measured by the price-cost margin, and job instability is proxied by the intensity of the use of temporary contracts. Using both worker data from the Spanish Labor Force Survey and …rm data from the Spanish Business Strategies Survey, I show that job instability rises with competition....