This paper studies the effect of currency depreciation in Greece and Cyprus using panel data from 1969 to 1998. An empirical model, which includes monetary as well as fiscal variables in addition to exchange rates, is developed. Two versions of this model, one with the real exchange rate and...

This study employs a large, micro-data set to examine the use of incentives and bonuses in the contracts of CEOs of banking firms in the USA in an effort by the owners of these banking concerns to curb potential expense preference behaviour by the CEO. Fixed-effects regression results confirm...

This article analyses stock market reactions to election polls. Stock markets anticipate the impact of events on future cash flows. Current values depend on future cash flows and risk prospects. We posit that election polls are indications of the political platforms that are expected to win...