one of the main functionalities of capital market is to improve liquidityin the market which provides security for the investors. mutual funds aremodern financial institutions which are designed with the aim of collectingfunds from investors and devote them to buy a variety of securities inorder to mitigate investment risks, exploit the economies of scale andfinally create a reasonable return f...

The high rate of budget stabilization fund adoption during the 1980s is often attributed to the 1980–1982 recession. In this view, states adopted funds to prevent a recurrence of the fiscal crises experienced during that recession. An alternative hypothesis is that some funds adopted during this period were intended to circumvent tax and expenditure limit laws. We find that states with TELs in ...

Concerns for reputation can promote cooperative behaviour. Individuals that behave cooperatively stand to benefit if they gain in influence, status or are more likely to be chosen as interaction partners by others. Most theoretical and empirical models of cooperation predict that image score will increase with cooperative contributions. Individuals are therefore expected to make higher contribu...

We explore the effects of the quantity of information on the tendency to contribute to crowdfunding campaigns. Using the crowdfunding platform Kickstarter, we analyze the campaign descriptions and the performance of over 70,000 projects. We look empirically at the effect of information quantity (word count) on funding success (as measure by amount raised and number of backers). Within this empi...