Many financial studies are based on the efficient capital markets hypothesis. In this context, testing the existence of this concept becomes an interesting field of study for the emerging capital market. The aim of this paper is to enlighten the difficulties of portfolio construction in a...

This study aimed to test five fundamental factors (growth, profitability, leverage, liquidity, and efficiency) and two market ratios (earning ratio, and price earning ratio) that predicted to influence stock price in several groups of manufacturing industries listed in Jakarta Stock Exchange...

In a search and matching model with right-to-manage bargaining, matched workers and firms bargain over wages, given labor demand schedule of firms for hours worked per worker. Wages and hours worked per worker are determined as if they are determined in a competitive labor market with a...

This study suggests that, run test, which are based on signs of indices / rates, do not reject efficient market hypothesis in the case of all the three markets, whereas VR tests, which capture the variation in permanent component of the series as a ratio to the total variation, reject the...

A cake is a metaphor for a heterogeneous, divisible good, such as land. A perfect division of cake is efficient (also called Pareto-optimal), envy-free, and equitable. We give an example of a cake in which it is impossible to divide it among three players such that these three properties are...

This paper is devoted to econometric analysis of broadband adoption efficiency in EU member states. Stochastic frontier models are widely used for efficiency estimation. We enhanced the stochastic frontier model by adding a spatial component into the model specification to reflect possible...

Government of Punjab is committed to attain the universalization of school education by providing free education and even in a number of districts the free books and through the programs of food for education. The stipends on the subsidized schooling are also part of the policy by Government of...

The Japanese “Big Bang” financial deregulations started in 1996. The objective was to make the Japanese banking sector more “free, fair and global”, spurring competition and resulting in a more profitable and efficient financial sector. The Big Bang brought about a massive consolidation...

We briefly describe the evolution of the global process of capitalist accumulation during the neoliberal decades, to stress the “real causes” of the current crisis. This analysis leads to the search for a radical alternative to “austerity”, that is the economic policy approach tied to an...

This United Nations Policy Note on Social Policy provides practical guidance on how to operationalize alternative equitable and employment-generating social policies in National Development Strategies. This Policy Note has been developed in cooperation with UN agencies, and has been officially...