The goal of this study was to identify the determinants of employee participation in organizations across Europe. Power distance, uncertainty avoidance, competition, unionisation, sector, organizational size and business strategy were all expected to influence amount of employee involvement. The...

This paper studies monetary policy in Chile during the 1986-1997 period. We concentrate in understanding the monetary transmission mechanism by which the Central Bank instrument - a real interest rate - affects total expenditure, output and the inflation rate. The methodology used is structural...

This study tests a large sample of UK equity returns from 1965-2007 for predictability. Returns are tested using the Lo and MacKinlay (1988) variance ratio test and the Chow and Denning (1993) multiple variance ratio tests. Overall, the results show strong signs of predictability. There is a...

In this paper we provide the first comprehensive UK evidence on the profitability of the pairs trading strategy. Evidence suggests that the strategy performs well in crisis periods, so we control for both risk and liquidity to assess performance. To evaluate the effect of market frictions on the...