We examine the relation between corporate governance and bankruptcy risk as an underlying force affecting a bond's yield. The level of corporate governance is captured by the G-index, along with the explicit groups of governance provisions. We estimate bankruptcy risk by Z-score, by...

It is here shown that the extension of expected utility theory to multiple periods destroys the axiomatic base by introducing timing contradictions in what the chooser knows at a single time point. It is shown that some of these timing contradictions remain even if, as Samuelson (1952) proposed,...

In some countries a Paasche price index based on unit values is compiled as a proxy for a true Paasche (or Laspeyres) price index on the basis of prices. This is for example the case in German foreign trade statistics. Unit values are average prices referring to a 'commodity number' (CN), that...

This paper provides an axiomatic characterization of two rules for comparing alternative sets of objects on the basis of the diversity that they offer. The framework considered assumes a finite universe of objects and an a priori given ordinal quadernary relation that compares alternative pairs...

How unequal is the world today? Is global income inequality falling, as many economists claim, or is it rising, as one often hears? This paper reviews the arguments and evidence. A number of concerns about the underlying data are identified, with biases going in both directions. Conceptual...

The finance literature is giving more attention to financial frisk aspects. However, in literature, only a fragmented comprehension is known about the contextual influence of financial risk aspects of businesses. In this article, we contribute by carving out the intersections between Finance and...

The purpose of this paper is to obtain and analyse data on the higher education lecturers at the 16 largest, state-owned faculties of economics in seven central and eastern European countries (Bosnia and Herzegovina, Croatia, Kosovo, Montenegro, North Macedonia, Serbia, and Slovenia), about...