The current literature frequently examines the effects of shareholder rights protection on corporate cash holdings in the context of agency theory. In this study, we show that national culture influences corporate managers' cash holding behavior beyond the effects of corporate governance and...

By taking a new approach to the study of the impact of EMU on consumption smoothing, centering on consumption volatility and therefore on smoothing more directly, we find that even though EMU tends to smooth consumption, it is not through cross-country property and claims. Rather it comes...

This paper addresses the effects of trade liberalisation on job flows. It studies the case of Ukraine where the sudden opening up of the economy to trade can be viewed as a quasi-natural experiment. We use disaggregated data on manufacturing industries and customs data on trade flows to account...

This empirical study of the impact of EMU on capital market integration and consumption smoothing comes to three conclusions: first, EMU promotes members’ holdings of foreign assets and foreign liabilities; second, no benefits of consumption smoothing result; third, EU membership, not a single...