This study examines the informativeness of fundamental financial information to three levels of market-to-book (MB) ratio: high MB firms, medium MB firms, and low MB firms. In general, the results indicate that the financial ratios (as co-integrated financial information) are relatively quite...

This paper refers to herding behaviour as developed in Bikhchandani et al. (1992), Bannerjee (1992) and Choi and Scarpa (1994). We examine the behaviour of a potential customer who does not know how many of her predecessors decided not to purchase the product. We show that, ceteris paribus, a...

In this paper we try to explain how price discrimination can cause bilateral trade patterns of the type seen under countertrade agreements. We interpret countertrade as a form of transaction bundling which can discriminate between potential trading partners and we combine characteristics from...

The purpose of this paper is to analyze from a law and economics perspective, two issues that have become increasingly prominent in Europe and East Asian relations. The first is that of product origin, and includes the issue of Japanese automobile “transplants†in Europe. The second is...