I In recent years the media, particularly the financial press, have been all agog over the rise of China and India in the international economy (and how they have done relatively well even in the current global downturn).

This paper considers three questions: (1) what is the role of financial markets in development, (2) why do some economies have such poorly developed financial markets, and (3) can government policy be used to promote financial market development? With respect to the first question, we formalize the widely-held notion that financial markets promote entrepreneurship, specialization, and learning-...

Financial Disclosure: Editor Melinda Young, Managing Editor Jill Drachenberg, Associate Managing Editor Dana Spector, and Nurse Planner Fameka Barron Leonard report no consultant, stockholder, speaker’s bureau, research, or other financial relationships with companies having ties to this field of study. Consulting Editor Patrice Spath discloses she is author of by Health Administrative Press, a...

In developing countries, traditional social obligations often press rich individuals to share their income. In this paper, we posit a “model of social pressure” in which people can sign binding financial agreements among them. These agreements may help to escape social obligations. It turns out that an anonymous and efficient agreement corresponds to one of the most developed and puzzling finan...

DISCLOSURE STATEMENT: This was not an industry supported study. Dr. Dort receives royalties from a tongue retaining device (MPowRx) and has financial interest in Zephyr. Dr. Lettieri is on the speakers’ bureau of Teva Pharmaceuticals. Dr. Chervin is a board member of the American Academy of Sleep Medicine, consults for Zansors, and receives royalties from UpToDate and Cambridge University Press...

Smith, Clifford W. Jr., and Jerold B. Wainer. 1979. "On Financial Contracting: An Analysis of Bond Covenants." Journal ofFi11a11dal Economics 7(2): 117-61. Strang, David, and Sarah A. Soule. 1998. "Diffusion in Organizations and Social Movements: From Hybrid Corn to Poison Pills." Annual Review ofSociologi; 24(1998), 265-90. Tenenbaum, Shelly. 1993. A Credit to Their Commrmiti;: Jeruisft Lo1111...

This paper examines the prominence of non-GAAP financial measures in press releases, testing whether managers emphasize these adjusted performance measures relative to GAAP numbers in four different settings where their disclosure helps managers reach strategic earnings benchmarks on a pro forma basis when they would otherwise fall short using GAAP numbers. Moreover, this research investigates ...

Production and financial investment planning is the arrangements for the quantity of products and the investment in financial products of a firm. This paper develops a new two-stage fuzzy optimization method for production and financial investment planning problem, in which the exchange rate is uncertain and characterized by possibility distribution. The objective of the problem is to maximize ...