Conventional wisdom argues that the relation between central bank independence (CBI) and inflation is negative. However, empirical studies based upon regressing inflation rates on CBI tend to reject this hypothesis and show that there is no negative relationship. This article investigates the...

The theoretical aspects of calendar effects and anomalies on the Ukrainian stock market and the empirical evidences of monthly returns and volatility of PFTS-index are examined. A strong evidence of a calendar effect i.e. December effect on Ukrainian PFTS exchange was found. It can be explained...

When consumers concentrate their purchases at a single firm, a firm that offers more products than its rivals can gain market share for all its other products, as well. These spillovers induce firms to compete by offering a greater variety of products rather than lower prices, and a natural...

This paper examines the adoption of the International Accounting Standard No 7 (IAS 7) “Cash Flow Statements (CFS)” of the International Accounting Standards Board (IASB) by the listed companies in the Istanbul Stock Exchange (ISE) in Turkey. The purpose of this study is to provide brief...

Agribusiness is the buzzword these days and is the main force behind the commercialization of the agriculture. Contract farming, One stop shop, Opening of the retail stores, starting of the terminal markets, establishment of processing units etc. has proved that agribusiness is very much...

We define an extensive-form analogue of iterated admissibility, called Prudent Rationalizability (PR). In each round of the procedure, for each information set of a player a surviving strategy of hers is required to be rational vis-a-vis a belief system with a full-support belief on the...

This book aims to provide an overview of the labour market's benchmark macroeconomic models. The matching models of equilibrium unemployment are, in fact, the primary and most popular theoretical tools used by economists to evaluate various labour market policies and to study one of the key...

We consider a takeover in which risk neutral bidders must incur participation costs and study their optimal strategy. We found that bidders decision of participation is endogenous. There is a threshold of private participation cost above that a potential bidder will stay out of takeover process....

This study utilizes standard- and nested-EKC models to investigate the income-environment relation for Nigeria, between 1960 and 2008. The results from the standard-EKC model provides weak evidence of an inverted-U shaped relationship with turning point (T.P) around $280.84, while the nested...

This paper aims to explore the relationship between the economic growth and the pressure on nature from the environmental sustainability perspective. We measure pressure on nature as the sum of energy, mineral, net forest depletions and carbon dioxide damage, all measured in US dollars. The data...