Often the cooperation behavior of enterprises is described as a rational, conscious, and planned process. If so, a model should be able to identify distinguishing features that have a significant impact on the propensity for inter-firm cooperation. The proposed model analyzes the influence of the firm’s, the entrepreneur’s, and the industry-specific characteristics on the cooperation behavior v...

The effects of recent subprime financial crisis on the US stock market are analyzed. To investigate this problem, a Bayesian panel data analysis to identify common factors that explain the movement of stock returns when the dimension is high is developed. For highdimensional panel data, it is known that previously proposed approaches cannot estimate accurately the variance–covariance matrix. An...

Using panel data for a maximum of 109 countries over the years 1976-2000, we empirically analyze the impact of decentralization on the occurrence of transnational terror. Taking account of the potential simultaneity between terror and decentralization, our results show that expenditure decentralization robustly reduces the number of terror events in a country, while political decentralization h...

Using unique panel data on individual transactions between buyers and sellers in the spot market for live hogs, we found a large degree of intra-day price dispersion. Motivated by this empirical puzzle, we offer an explanation which is rooted in the bargaining with search theory. We formulate three hypotheses involving the role of farmers’ search cost, bargaining parties’ patience, and asymmetr...

We use unique worker-plant matched panel data to measure differences in wage changes experienced by workers displaced from closing plants. We observe larger losses among women than men, comparing workers who move from the same closing plant to the same new firm. However, we find a significantly smaller gap in hiring firms with female leadership. The results are strongest among women who are dis...

When academic researchers participate in commercialization using for-profit firms there is a potentially costly trade-off – their time and effort are diverted away from academic knowledge production. This is a form of brain drain on the not-for-profit research sector that may reduce academic research productivity and adversely impact university performance and long-run economic growth. In this ...

This article examines the impact of a conditional cash transfer programme in Nicaragua on a range of consumption and productive investment measures. Programme effects are estimated using household panel data collected as part of a randomised evaluation. Despite clear evidence that the programme increased current expenditures, there is only limited evidence that it increased investment. An estim...