A multi-product cost function is estimated using data on the UK higher education system. The results are used to provide information about average incremental costs, economies of scale and economies of scope in a wide variety of institutions. Implications of the analysis are discussed for the identification of allocative and technical efficiencies in universities. JEL Classification: I2, L1.

mpsiac is currently known as an appropriate method to measure sediment ofwatershed basins of the country while there has not been any sensitivity analysis so far forthis method. in this study, required data for mpsiac model were gathered from six basins;amame-kamarkhani, kand-golandok, tang kenesht (from two different references), nojian(from three different references), pegahe sorkh katvand (f...

JEL Classification Numbers: E 31, E 52

Early COVID-19 presence and related deaths in Turkish cities can be explained by their international trade volume. Trade with China has a higher impact on the pandemic against total of cities. The ordering between imports, exports varies depending stage pandemic. As were sealed off many countries, continuing country increasing case numbers. Key Words: COVID-19, City-level Data Analysis, Interna...

The author empirically tests two aspects of the interaction between financial variables and inventory investment: negative cash flow and finance constraints due to asymmetric information. This is one of the first studies of inventory investment and finance constraints using Canadian data. A sample of Canadian manufacturing firms over the period 1992Q2–1999Q4 is split into subsamples based on ag...

Using the high-power setting of newly privatized firms from 64 countries, we examine the relationship between ownership type and firm-level capital allocations as captured by investment sensitivity to stock price. Consistent with our predictions that government and foreign institutional owners are associated with different levels of information asymmetry and agency problems, we find strong and ...

The question of whether private investors can discriminate between the risk taken by banks is empirically investigated by testing the risk sensitivity of European banks’ subordinated notes and debentures (SND) spreads. A unique dataset of spreads, ratings, accounting and market measures of bank risk is used for a sample of SND issued during the 1991-2000:Q1 period. Moody’s Bank Financial Streng...

I investigate the relation between firm risk and firm transparency over the period 1992-2006 and find that the level of firm transparency and the level of firm risk are negatively related. I also find that higher CEO pay-performance sensitivity (delta) works to mitigate this inverse relationship. This result is consistent with Hermalin and Weisbach (2007) who suggest that managers reduce risk t...

Capital expenditures by the top 100 firms make up more than 60% of aggregate investment by publicly traded firms and account for most of the variation in aggregate net fixed private nonresidential investment. Surprisingly, these firms have the highest investment-cash flow sensitivity in the economy, despite being the least financially constrained. Further, contrary to the trend among smaller fi...