This paper looks into the issuance of auditor's going-concern opinions and investigates how it triggers subsequent changes in corporate governance, specifically, the corporate control, executive compensation and management turnover. Using a difference-in-difference approach adopting the...

This paper tries to better explain the business cycle data in a small open economy. We consider two shocks generating the dynamics of the model, a domestic productivity shock, on the domestic productivity, and a government spending shock, generating positive correlations between savings and...