Most of the literature related to the measurement of economic efficiency has based its
analysis either on parametric or on non‐parametric frontier methods. The choice of …

Initial public offerings (IPOs) have been a prominent focus of academic and popular press
attention, especially in recent years. Much of this attention can be attributed to the increase …

Using mutual fund redemptions as an instrument for price changes, we identify a strong
effect of market prices on takeover activity (the “trigger effect”). An interquartile decrease in …

Municipal bonds trade in opaque, decentralized broker-dealer markets in which price
information is costly to gather. We analyze a database of trades between broker-dealers and …

The paper investigates the determinants of bankruptcy in three representative unbalanced
samples of Italian firms for the periods 1989–91, 1992–94 and 1995–97. Two important …

We provide a direct estimate of the magnitude of agency costs in publicly held corporations.
We compute an explicit performance benchmark that compares a firm's actual Tobin's Q to …

We develop a model to predict expected or normal director compensation. Based on this, we
then calculate whether directors of corporate boards are over-or undercompensated. On …

The main objective of this study is to investigate the impact of corporate research and
development (R&D) activities on firm performance, measured by labour productivity. To this …

Green IPOs raise funds for companies with environmental governance consciousness to
promote sustainable development. This paper aims at investigating the pricing behavior of …

This study uses a stochastic frontier approach to evaluate firm efficiency. The resulting
efficiency score, based on firm characteristics, is the input for performance evaluation. The …