1,721,066 research outputs found
Endowments, Fiscal Federalism, and the Cost of Capital for States: Evidence from Brazil, 1891-1930
Get PDFIn this paper, we contribute to the discussion of what determines country risk by arguing that an important explanatory factor is the impact that commodities have on the capacity to pay. We use a newly created data base with state-level fiscal and risk premium data for Brazil states between 1891 and 1930 to show that Brazilian states with natural endowments that allowed them to export commodities that were in high demand ended up having higher revenues per capita and, thus, lower cost of capital. We also explain that the variation in revenues per capita across states was both a product of the variation in natural endowments and a commodity boom that had asymmetric effects among states. We end by running instrumental variable estimates using indices of export prices for each state to instrument for revenues per capita. Our IV estimates confirm our results that states with commodities that had higher price increases had lower risk premia.State public debt, fiscal decentralization, endowments, public revenue.
JOM764293_Online_supplement_CLN – Supplemental material for A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs
No full textSupplemental material, JOM764293_Online_supplement_CLN for A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs by Victor Zitian Chen, Aldo Musacchio and Sali Li in Journal of Management</p
JOM764293_SUPPL_refs – Supplemental material for A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs
No full textSupplemental material, JOM764293_SUPPL_refs for A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs by Victor Zitian Chen, Aldo Musacchio and Sali Li in Journal of Management</p
Supplement_R4 – Supplemental material for A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs
No full textSupplemental material, Supplement_R4 for A Principals-Principals Perspective of Hybrid Leviathans: Cross-Border Acquisitions by State-Owned MNEs by Victor Zitian Chen, Aldo Musacchio and Sali Li in Journal of Management</p
State-owned firms must address their CO2 problem. Here is how
No full textGovernments’ efforts to reduce carbon emissions are falling short despite policies like ‘cap and trade.’ Anna Grosman, Aldo Musacchio and Gerhard Schnyder uncover the overlooked role of state-owned firms in exacerbating the issue, influenced by government involvement. They propose ways for these firms to become part of the solution to climate change.</p
State-owned firms must address their CO2 problem. Here is how
No full textGovernments’ efforts to reduce carbon emissions are falling short despite policies like ‘cap and trade.’ Anna Grosman, Aldo Musacchio and Gerhard Schnyder uncover the overlooked role of state-owned firms in exacerbating the issue, influenced by government involvement. They propose ways for these firms to become part of the solution to climate change.</p
La storia al futuro. Beni culturali, specializzazione del territorio e nuova occupazione
No full textil libro illustra una diversa strategia, di tipo sistemico, per la valorizzazione economico e sociale delle risorse del territori
Phylogeographic analysis of Anacamptis palustris populations based on plastid minisatellites and microsatellites variation.
No full textBank Accounting Standards in Mexico. A layman’s guide to changes 10 years after the 1995 bank crisis
Get PDFAfter the 1995 crisis, the Mexican banking system experienced significant changes in bank accounting standards. Most of these changes took place between 1996 and 2001, and had a significant impact in the structure and interpretation of financial information of banks. This document explains the major changes on bank accounting, their purpose and structure, and discusses their impact on financial information reported by Mexican banks. It also provides the English equivalent of the major accounting terms used by Mexican banks. The main purpose of this document is to provide a standardized guide to better understand financial information produced before and after the crisis, within the current context of internationalization of Mexican banks' ownership.
The return of state capitalism? How the Covid-19 pandemic put the liberal market economies to the test
No full textAs states across the world increase their interventions in the economy to deal with the fallout from the pandemic, we are likely to see an uptick in state ownership of assets (again). States can use various tools for proactive intervention in economic production and the functioning of markets, in addition to its regulatory and security roles. Mike Wright, Geoffrey Wood, Aldo Musacchio, Ilya Okhmatovskiy, Anna Grosman, and Jonathan Doh undertake an exploratory factor analysis with seven variables that represent various aspects of state intervention in economic activities for 59 countries. They find that not all state interventions should be threatening to business
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