The paper sets out to tackle the following puzzle when insiders of a firm have more information than outside investors. The insiders desire to sell overpriced securities creates an Adverse Selection problem leading to two contradictory results. On the one hand, it leads to Myers & Majluf...

We provide a comparison of poverty levels in Britain and the US based on a set of common definitions. We then ask what factors û demographic, economic, or policy û account for the observed changes in poverty in the two nations and what role could policy play in reducing poverty? We find that...

Razzell argues that the quality of smallpox recording in the Marine Society data set is so poor that ‘the impact of smallpox on average height cannot be settled by analysis of the Marine Society data set’. We believe that this grossly overstates the problems of the records, and is based on a...

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This paper examines recent changes in the politics of risk regulation in Europe and compares them to developments in the United States. From the 1960s through the mid 1980s, the regulation of health, safety and environmental risks was generally stricter in the United States than in Europe. Since...

Recent debate on the reform of the international financial architecture has highlighted the potentially important role of the official sector in crisis management. We examine how such public intervention in sovereign debt crises affects efficiency, ex ante and ex post. Our results shed light on...

Competent leadership has always been considered vital in every organisation and there has been considerable research on mainstream leadership issues in the corporate sector and in politics.1 But there has been very little research on leadership issues in the emerging sector of development NGOs....

An urgent priority for European third sector research in the context of the dynamics of European integration should be to examine the emergence of "horizontal" European policy towards the third, voluntary, nonprofit sector understood as a multi-level process involving nations and supranational...

This paper, originally written as an encyclopaedia survey, considers as globalisation all the consequences of the long-term cheapening of, and expansion of the technical possibilities of -transport and communication; a process more or less uninterrupted since the improvements of navigation in...