This study investigates the capital and ownership structure of firms receiving tender offers. Predictions of control-driven models developed by Haris and Raviv (1988) and Stulz (1988) and value-maximizing models developed by Israel (1991, 1992) are examined. The study reports results consistent...

Refers to previous research on deciding the balance between equities and bonds in investment portfolios and puts forward a model based on a single period correlation to predict future stock‐bond correlations from past interest and growth rates. Explains the concepts involved and uses...

In the agricultural Mid-west, riparian corridors are vital for protecting biodiversity and water quality. The cumulative management decisions of hundreds of private landowners have a tremendous impact on this riparian zone. This study of 268 farmers in a typical Mid-western watershed in Michigan...

The natural environment benefits greatly from the work of volunteers in environmental stewardship programmes. However, little is known about volunteers' motivations for continued participation in these programmes. This study looked at the relationship between volunteer commitment and motivation,...

This paper considers the effect of financial liberalisation on access to investment finance using firm level data covering 57 developing and transition countries. An index is presented which measures financial market liberalisation along the following policy dimensions: directed lending, credit...

This paper considers the effect of corruption on the effciency of capital investment. Using firm-level level data from the World Bank enterprise surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe payments distorts the efficient allocation of...

This paper uses a fundamental Q model of investment to consider the role playedby financing frictions in agricultural investment decisions, controlling econometrically forcensoring, heterogeneity and errors-in-variables. Our findings suggest that farmer's investment decisions are not driven by...

The financial crisis has brought to the fore concerns regarding small- and medium-sized enterprises' (SMEs) capacity to access traditional bank lending. Using European firm-level data on SME access to finance since the onset of the financial crisis, we find that bank-lending constrained SMEs are...