This paper debunks three persistent myths: that creativity is greatest in youth, that wisdom hinders creativity, and that every discipline has a single peak age of creativity. These myths systematically neglect the achievements of experimental innovators – including such figures as Charles...

This paper examines the impact of industrial productivity on transnationals M&As from OECD countries towards Latin American countries in the period 1996 to 2010. It also analyzes the relationship between external mechanism of corporate governance and transnational M&As. For this purpose we use a...

Superior modeling of the yield curve is useful for asset pricing, financial planning, and risk management. In this article, we estimate five affine term structure models using daily Colombian data. We find that a three-factor model outperforms the other models in one and five days ahead...

We study the effect of X-Stream, the new trading platform of the Colombian Stock Exchange since February 2009, on the quality of the stock market. Contributing to the literature on market quality, this paper provides novel evidence of the effect of reforms on market design, trading rules and...

This paper examines the performance of Institutions, Foreigners and Individuals in Emerging Markets. We find that Local institutions produce better outcomes than both foreigners and local individuals on all performance measures. Comparing local individuals with foreigners we find that local...

This paper provides new evidences to the literature of assignment in the labor market for the Colombian case. Specifically it focuses on the existing relationship between acquired human capital in higher education and its congruence in the labor market. Differing from previews studies, the...

We study the spillover effect from equity offerings over dual-class shares. Whereas, evidence has been found that a seasoned equity offering improves stock liquidity, the effect over the liquidity of different type shares of the same firm has not been explored. We use equity offer- ings of five...

We investigate why the economics literature often finds a negative relationship between increased schooling and GDP growth over short periods. We show that increases in GDP in 98 countries during five-year intervals are correlated with the increases in adults' average schooling during the prior...

Market microstructure models imply that informed trading reduces liquidity. We test for the effect of the frequency of new releases, as a proxy of information arrival, on liquidity in the Chilean stock market. We find that news release frequency is strongly related to improved liquidity. Those...

The main contribution of this work is the discussion about the widespread of the data from the economic experiments. Particularly, in regards with those that research about the dis- counting rate of the agents, where we suggest using the Dynamic Stochastic General Equilibrium models (DSGE) under...