Observed economic policies in developing countries differ sharply both from those observed among developed countries and from those forecast by existing models of optimal policies. For example, developing countries rely little on broad-based taxes, and make substantial use of tariffs and...

Beta, as measured by the Capital Asset Pricing Model (CAPM), is widely used for pricing stocks, determining the cost of capital, and gauging the extent to which markets are integrated. The CAPM model assumes that equilibrium conditions prevail. The choice of which market portfolio to use in the...

Tax policies seen in developing countries are puzzling on many dimensions. To begin with, revenue/GDP is surprisingly small compared with that in developed economies. Taxes on labor income play a minor role. Taxes on consumption are important, but effective tax rates vary dramatically by firm,...

Tax policies seen in developing countries are puzzling on many dimensions, given the sharp contrast between these policies and both those seen in developed countries and those forecast in the optimal tax literature. In this paper, we explore how forecasted policies change if firms can...

Purpose – The purpose of this study is to explore cultural factors influencing knowledge sharing strategies in virtual communities of practice. Design/methodology/approach – A qualitative research design was employed. Data collection was based on in‐depth interviews. The authors assumed...

Purpose – The purpose of this paper is to identify what factors impact employees' online knowledge sharing in a cross‐cultural context. Design/methodology/approach – A qualitative research design was used. Data were collected from 41 in‐depth interviews with Chinese and American...

We develop a career concerns model in which agents differ in taste for income in addition to ability, and derive basic implications of this framework. We argue that the model captures important aspects of ambition. Since ambitious agents are expected to work harder – and therefore be paid more...

Studies of migration and financial globalization focus on either the movement of money, with people staying put, or on the movement of people, with little attention to the impact of the money that moves with them. This paper uses in-depth interviews with executives at ethnic-Chinese foreign-bank...