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 ...

This paper provides a set of empirical tests of the cross-sectional variation of stock volatility and investablility, where investability is defined as the degree to which a stock is accessible to foreigners. Unlike previous studies, which focus on market volatility and market return, we study the relationship between individual stock return volatility and its investablility. Our findings have ...

Accidental ingestion of foreign bodies is a relatively common situation, in the large majority of cases being followed by an unobserved passing of the objects through the digestive tract and their elimination in about a week. We present a patient with liver actinomycosis developed in relation with a gastric (antral) perforation secondary to accidental foreign body ingestion. The complexity of t...

The main objective of this paper is to investigate the relation between the foreign ownership and firm performance. The study was conducted for the companies listed on Bucharest Stock Exchange, in the first, second and third categories. The financial companies and the credit institutions were excluded from the sample. The final sample included 63 companies. Return on Assets and Return on Equity...

This study tests the relation between corporate tax avoidance and disclosure of geographic earnings. After the adoption of Statement of Financial Accounting Standards No. 131 in 1998, firms opting to no longer disclose geographic segment earnings in their financial reports experience a decrease in their worldwide effective tax rates through reduced foreign tax rates. These results are consisten...

one of the principal challenges before economical progress and development is governmental monopoly and economical structure. the root of this dilemma is from historical backgrounds and codification our constitution. upon article 44 all of the important economical activities in especial foreign trade belong to the government. but at the end of this article; there is an important clause; it says...

The paper presents empirical evidence about the relation between taxes and the distribution of foreign direct investment in China. The estimation results show that taxes have a significantly negative effect on the location of FDI. It is also found that the cities that were opened up earlier have a head start compared with those opened up later in terms of accumulative FDI.