Pooled time-series, cross-sectional data on 110 Australian companies over the period 1992-1998 is employed to examine whether the trademarked variant of residual income known as economic value-added (EVA) is more highly associated with stock returns than more conventional accounting-based measures. These other measures of internal and external performance include earnings, net cash flow and res...

Using pooled time-series, cross-sectional data on 110 Australian companies over the period 1992-1998 an examination is undertaken whether the trademarked variant of residual income known as economic value-added (or EVA) is more highly associated with stock returns than conventional accounting-based measures. The accountingbased measures of internal and external performance include earnings, net...

Storability constrains firms’ ability to implement price discrimination, as it enables consumers to separate the timing of purchase from the timing of consumption. Scanner data, however, indicate that significant price differences exist for the same storable good and brand sold in containers of different sizes, with small sizes accounting for a larger share of purchases of low-income households...

BACKGROUND China uses both social health insurance (SHI) programs and a medical financial assistance (MFA) program to protect the poor from illness-induced financial risks. The MFA provides a dual benefit package targeting low-income families: subsidizing these families' participation in SHI programs, and providing cash aid to protect them from catastrophic health expenditure (CHE). This study ...

BACKGROUND Illness-related costs for patients with tuberculosis (TB) ≥20% of pre-illness annual household income predict adverse treatment outcomes and have been termed "catastrophic." Social protection initiatives, including cash transfers, are endorsed to help prevent catastrophic costs. With this aim, cash transfers may either be provided to defray TB-related costs of households with a confi...

Merchant fees and reward programs generate an implicit monetary transfer from “cash” users to credit card users because merchants generally do not set differential prices for card users to recoup the costs of merchant fees. On average, each cash-using household transfers $50 to households that use credit cards, and each credit card using household receives a subsidy of $240 every year. Among ca...