We analyze a sample of 2,914 hiring contracts and show how job security plays a role in pay negotiation. We find a significant impact of job security on CEO pay using both firm and industry-level measures across US firms. In general, CEO candidates and the board members would trade pay for job...

In a standard security market, it is assumed that market participants are rational, capable of acquiring and utilizing information, fraudulent and opportunistic behaviors do not pay and are avoided, and transaction costs are relatively low. Furthermore, there is no group of participants who are...

chapter 1 Introduction -- chapter 2 Finance and development: A survey of literature -- chapter 3 The Malaysian economy and its nancial system -- chapter 4 Data, variable construction and estimation methodology -- chapter 5 Financial deepening and its determinants -- chapter 6 The patterns and...

Although the economy of China has grown very strongly over the last few decades, this spectacular performance has come at the expense of rapid environmental deterioration. Amidst animated debate on the issue of global warming, this study attempts to explore the determinants of CO2 emissions in...

The main objective of this paper is to explore the determinants of private consumption volatility in India. While considerable effort has been expended on the examining the relationship between growth and volatility, we focus on financial repression and private consumption volatility in India....

In this paper, we provide a comparative account of the evolution of private saving in India and Malaysia, and analyze how policy changes in the financial sectors and pension systems help explain differences in their saving performance. Using the ARDL bounds estimation procedure, we find a fairly...

This paper attempts to shed some light on the role of financial sector policies in generating new knowledge, drawing on the experience of one of the fastest growing and largest developing countries. Using relatively long time series data, the results in this paper indicate that interest rate...

This paper examines the causal relationship between financial liberalization and income inequality using India as a case study. The results indicate that there exists a robust long-run relationship between financial liberalization and income inequality, and their causal relationship is a...

While financial liberalization has always been advocated in developing countries, experiences with it do not always produce desirable outcomes. In order to evaluate the costs and benefits associated with financial liberalization and repression, this study highlights that the overall...

While many developing countries have reformed their financial systems over the last few decades, how an increased level of financial liberalization affects the saving-investment relationship remains unclear. This paper examines the dynamic relationship between the domestic saving and investment...