We estimate optimal target-ranges of capital structure controlling for a series of fi rm-specifi c characteristics and accounting for the serial correlation that arises from the dynamic component of the leverage choice. Then, we empirically examine if firms adjust their leverages toward the...

This paper examines the price impact of trading due to expected changes in the FTSE 100 index composition, which employs publicly-known objective criteria to determine membership. Hence, it provides a natural context to investigate anticipatory trading effects. We propose a panel-regression...

This paper examines the price impact of trading due to expected changes in the FTSE 100 index composition, which employs publicly-known objective criteria to determine membership. Hence, it provides a natural context to investigate anticipatory trading effects. We propose a panel-regression...

In the aftermath of 1997-98 financial crises the asian countries initiated a more ambitious process of economic and institutional coordination. In a long term scenario that movement opens a new perspective: the emulation of European integration process, culminating with the creation of a common...

In Brazil, even though school participation is compulsory for children between 7 to 14 years old, some of them are not enrolled in the education system. One of the main reasons is their participation to the work market that may have an impact on their health. Moreover, child's school attendance...

The literature about the economics of science and technology (C&T) suggests not only that the technological innovation demands the expansion of the institutional borders between universities, research institutes, industrial firms and the financial system, but also that science leads as well as...

The literature shows that the use of the antidumping legislation can affect the international trade. The threat to invoke the legislation can be used for a collusive agreement or as a punishment to agreement deviation already done between national and foreign firms. Then, the objective of this...