Purchase and sale-oriented exchange rate intervention effectiveness carried on by the Central Bank of Guatemala is analyzed through an ACT-GARCH model. By using daily information for the period 1996-2008 it is found that purchase-oriented intervention tends to reduce exchange rate long run...

In view of recent corporate scandals, it is argued that corporate governance can learn from public governance. Institutions devised to control and discipline the behaviour of executives in the political sphere can give new insights into how to improve the governance of firms. Some proposal such...