Private Information, Human Capital, and Optimal “Home Bias” in Financial Markets By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or “home bias”, from what standard finance models predict. Our model ascribes the “bias” to endogenous informati...

This paper examines whether foreign aid, together with other economic, social and environmental factors, contributes to sustainable development. It starts with a theoretical model where sustainable development is modelled as a different kind of growth that protects the environment. Using factor analysis and newly developed estimation methods for a dynamic panel data model with endogenous regres...

abstract in this study, we applied recently developed panel unit root and cointegration techniques to examine the long-run real income per capita and price elasticities for demand of electricity in selected middle east and north african (mena) countries using an annual data series from 1990 to 2011.our main finding from the panel analysis is that the demand for electricity is highly price elast...

The evaluation of the formative process in the University system has been assuming an ever increasing importance in the European countries. Within this context the analysis of student performance and capabilities plays a fundamental role. In this work we propose a multivariate latent growth model for studying the performances of a cohort of students of the University of Bologna. The model propo...

Weber’s Protestant Ethic hypothesis holds that elements of theology gave Protestants a cultural affinity with the economic demands of early market capitalism, particularly compared with their Catholic neighbors, which led to more rapid economic development in nations where Protestant culture was dominant. Previous research has found inconsistent support for a Protestant inclination toward pro-m...

A large body of literatures links financial development to economic growth, yet the channels through which inflation and economic development affect this relationship have been less thoroughly explored. This research takes econometric and trilateral graphic approaches to examine these channels using 99 developing and developed countries during the years 1960-2009. Findings prove that respecti...

stock return is usually considered to be affected by firm’s financial ratios as well as economic variables. fundamental method assume that stock returns is not solely related to the stock market. most result come from the company condition , industry situation and whole economy. in this paper, this relationship between stock return and fundamentals is studied using the data for 22 pharmaceutica...