this study empirically examines whether managers manipulate reported income through the timing of sales of long-lived assets and investments. several empirical implications of the income-smoothing and debt-equity hypothesis in the context of asset sales were tested. the findings are consistent with the timing of asset sales by managers so that the recognized accounting income from these sales s...

In 1982, disabled workers who came on the social security disability insurance rolls from mid-1980 to mid-1981 had median monthly incomes of less than $500 if they were unmarried and less than $1,300 if they were married. These median monthly income levels, which include the income of a spouse and minor children if present, are roughly half those of the noninstitutionalized population aged 25-6...

Asset prices aggregate information about current and future productivity. More information allows firms to make better investment decisions, potentially increasing social welfare. In this paper, I quantify the social value of the information transmitted by the financial system to firms in a real business cycle framework, in an environment with common productivity shocks and temporary, idiosyncr...

Social evaluation of others is often influenced by the physical attractiveness of the person being judged, leading to either a beauty premium or penalty depending on the circumstances. Here we asked Chinese participants to act as an interest-free third party in a dictator game and to evaluate the fairness level of monetary allocation by attractive and less attractive proposers of the same or op...

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It's not surprisingly when entering this site to get the book. One of the popular books now is the defending your digital assets against hackers crackers spies and thieves. You may be confused because you can't find the book in the book store around your city. Commonly, the popular book will be sold quickly. And when you have found the store to buy the book, it will be so hurt when you run out ...

Over the past two decades, every scholarly publisher has migrated at least the mechanical aspects of their journal publishing so that they utilize digital means. The academy was comfortable with that for a while, but publishers are under increasing pressure to adapt further. At the American Astronomical Society (AAS), we think that means bringing our publishing program to the point of being ful...

Policymakers in Emerging Market economies (EMs) are facing a serious dilemma: while their economies are currently benefiting from a surge of capital inflows, they fear a replay of the 1990s and early 2000s when their economies underwent costly Sudden Stops (of capital inflows). A serious concern is that a capital‐inflow episode could give rise to "bubbles," i.e., an artificial or transitory inc...