Information asymmetry in stock market can increase the risk of investment which in turn increases the capital cost of firms. Bhattacharya (1979) proposed a hypothesis that states dividend can act as a powerful signal in order to solve information asymmetry problem. We measured information asymmetry by lack of earnings transparency. Therefore we examine the effect of earnings transparency on cap...

a r t i c l e i n f o JEL classification: F43 J31 O31 O33 Keywords: Technological knowledge International trade Human capital Wage inequality By connecting the North–South diffusion and the bias of non-scale technological knowledge and by considering endogenous human capital, we relate the technological-knowledge diffusion with levels, inter-country gaps, growth rates, wage-inequality paths and...

The factors behind the increase in the relative wages of skilled workers in developing countries are still not well understood. The authors use data from Peru to analyze the determinants of withinindustry share of skilled workers. They use a translog cost function for gross output and are therefore able to incorporate the effects of materials, both domestic and imported, in addition to capital....

The technological cooperation and technological innovation are not only the material and technological activities, but also the complex social process. The industry-university-research institute (IUR) cooperation cannot success without the social capital which is embedded in the cooperative members’ relation network. Based on the framework of social capital Nahapiet and Ghoshal concluded, this ...

a r t i c l e i n f o JEL classification: F16 F43 J24 J31 O31 O33 Keywords: North–South trade Technological knowledge Human capital Wage inequality This paper develops an endogenous growth model with technological knowledge directed towards high-versus low-skilled labour, augmented with North–South international trade of intermediate goods and with human-capital accumulation, to analyse how tra...

This chapter aims to examine the role of intellectual capital in order to enhance the organizational performance of airline industry in Malaysia. Five components of intellectual capital, namely human capital, customer capital, structural capital, technological capital, and spiritual capital, were used to investigate the role of intellectual capital in airline industry in Malaysia. A structured ...

Due to embodied technological progress new generations of capital goods are more productive. Therefore, in order to study the effects of technological progress, a model must be analyzed in which different generations of capital goods can be distinguished. We determine in what way the firm adjusts current investments to predictions of technological progress. In the presence of market power we sh...

We study a simple model of factor saving technological innovation in a concave framework. Capital can be used either to reproduce itself or, at additional cost, to produce a higher quality of capital that requires less labor input. If higher quality capital can be produced quickly, we get a model of exogenous balanced growth as a special case. If, however, higher quality capital can be produced...

water quality trading is a new approach in pollution control which satisfies water quality standards suggesting minimum cost solutions. this method uses tradable discharge permits based on pollution transfer coefficient in a river. this paper tries to establish a water quality trading program in a river basin according to transfer coefficients between pollution sources and evaluate cost effecti...