Purpose – This paper seeks to examine the impact of foreign direct investments (FDI) on air pollution in China using 286 cities from 2001 to 2007. It is a particular interest of this paper to observe the relationship between FDI and air pollution in particular after China joined to World Trade...

In the paper, we find that diversification reduces the heterogeneity of investor beliefs on firm value. We obtain this finding by comparing not only between diversified and focused firms but also between diversifying and non-diversifying mergers. We also find that the reduced heterogeneity of...

This paper identifies the dramatic growth in legal and judicial reform across the world of international development assistance, and assesses the particular experience of measuring performance in a substantial reform programme in Papua New Guinea (PNG). The paper provides the case study of...

In this paper the issue of nonlinearity and heterogeneity in the derivation of feed efficiency estimates for beef cattle based on performance data for 6253 animals is examined. Using parametric, non-parametric and integer programming approaches, we find evidence of nonlinearity between feed...

Public works and employment programmes have long been considered a staple of social assistance. For the most part, though, they have been designed as short-term ?safety nets?. While, in some cases, the focus has also been on reducing poverty or addressing structural unemployment challenges,...

Over the past ten years, commercial lending has been transformed from a one-off, bilateral "market" in which issuers maintained one or more separate banking relationships into a capital market in which one or more underwriters structure and price loans for syndication to groups of investors....

Regulators and governance activists are pressuring firms to abolish CEO duality (the Chief Executive Officer is also the Chairman of the Board). However, the literature provides mixed evidence on the relation between CEO duality and firm performance. Using the exogenous shock of the 1989...