The product test asks the product of the volume and price index numbers to equal the corresponding value change. The literature treats the product test as a requirement. We treat it as a hypothesis, and we provide an empirical test.

In the wake of the recent global financial crisis central banks and regulators are concerned about redirection of bailout funds into dividends. Yet, we do not know much about the extent banks follow dividend policies and funding decisions optimal to generating shareholders? wealth because banks...

In this study we consider the linkage between productivity change and profit change. We develop an analytical framework in which profit change between one period and the next is decomposed into three sources: (i) a productivity change effect (which includes a technical change effect and an...