The objective of this article is to summarize and review the literature on the determinants of road traffic injuries and fatalities, to identify the relevant research gaps in particular for low and middle income countries. We also present a cross-country analysis of the determinants of road traffic injuries and fatalities that take into account a wide range of potential environmental, economic and social factors. The present study focused on differences based on the level of development. The goal was to identify relevant commonalities that may assist in the creation of road safety policies common to countries at a similar level of development. The countries were divided according to the level of gross national income per capita, and these income-level groups were the primary units of interest. The results presented here focus on the differences by income level. 相似文献
This paper examines the impact of exposure to provincial and national information on the performance of non-financial Chinese firms during the recent global financial crisis (2007 to 2009). The results show that firms with higher level of exposure to provincial information are affected less by the crisis than firms with higher level of exposure to national information. The results are also robust across various proxies of firm performance. The main contribution of this paper is to highlight sources of value for Chinese firms during the recent financial crisis. More importantly, this paper uses publicly available information to draw attention on the role played by national and provincial sources of information in defining firm performance during the recent global financial crisis.
In Egypt, there is a remarkable gap between men's and women's participation in the labour market. In this study, we examine the impact of microcredit on the labour supply of men and women and subsequently investigate whether microcredit can reduce the employment gap between men and women in Egypt. We find a negative effect of microcredit on men's employment, but a positive effect on the employment of women. Borrowing from a microcredit source increases the probability of women working by 8.5 percentage points and mainly affects self‐employed work. We also find a positive effect of microcredit on work in small businesses. This finding suggests that women can use microcredit to open small shops or household businesses. Finally, using decomposition analysis, we find that microcredit reduces the overall employment gap between men and women by 0.743%. 相似文献
This study investigates the dynamic behaviour of macroeconomic time series variables of the United Arab Emirates. We first examined whether there are non‐Gaussian characteristics associated with the macroeconomic variables of the United Arab Emirates. Through application of the BDS nonlinearity test, our results indicated that there is a substantial nonlinear dependence in the data set for all the variables. We also assessed the asymmetric behaviour of these variables by exploring whether they exhibit two particular forms of asymmetry, which are deepness and steepness asymmetries. These results have shown that there is no empirical evidence of business cycle asymmetry in all the variables at any conventional level of significance in the sample period. Also, through application of further robust testing, our findings indicate the presence of pro‐cyclical asymmetry in some of the variables and at the same time indicate the presence of asymmetries in the volatility. 相似文献
This paper provides evidence of a significant exchange rate effect on stock index returns using data from seven selected countries practicing free-floating exchange rate regimes. This research uses parity and asset pricing theories, thus placing it within the monetary-cum-economics framework for international asset pricing. In this study, we apply a system of seemingly unrelated regression to control for unobserved heterogeneity and cross-sectional dependence. The findings constitute evidence of a statistically significant exchange rate impact on stock index returns across selected countries. These findings can be considered as falling under the arbitrage pricing approach of the international capital asset pricing model of Solnik who also used the parity-theoretical framework on exchange rate determination. 相似文献
It has been realized that none of the three basic theories of capital structure presents a complete answer to the actual determinants
of corporate financing decisions. This study attempts to model the practice of capital structure decisions according to the
basic premises of each theory of capital structure: trade-off theory, pecking-order theory and free cash flow theory. The
methodology addresses modeling long-term and short-term debt financing decisions based on ten different statistical criteria
using data from Egypt stock market. The empirical evidence indicates that four models of corporate financing are influenced
by the trade-off theory relatively. The contributions of this paper are as follows. First, this study offers a more refined
and comprehensive methodology for modeling firms’ capital structure decisions. Second, the results of this study compare to
those of previous studies of other developing countries and thus add an element of external validity.
Mohamed A. Ismail is currently working as a consultant for the Information and Decision Support Center (IDSC), the Egyptian
Cabinet-Egypt. He would like to acknowledge the financial support provided by the IDSC. 相似文献
We report new findings on bank efficiency in East Asian countries for the pre- and post-IMF restructuring periods. We find
that bank efficiency has improved, but only to the pre-IMF intervention level, and that restructured banks are not more efficient
than their unrestructured counterparts. Different restructuring measures have different effects. Bank closures are economically
justified, but mergers show short-term efficiency losses. Recapitalization and reprivatization of badly performing banks lead
to efficiency improvement, but also increase government ownership. Ease of entry that has allowed for more foreign bank participation
results in slightly improved performance of badly performing banks.
Normativity is assessed as we evaluate and compare the environmental reporting practices of a sample of French and Canadian companies through the lens of institutional legitimacy. More specifically, we examine how French and Canadian firms changed their reporting practices in reaction to the promulgation of laws and regulations in their respective countries, i.e., the NER and Grenelle II Acts in France, and National Instrument 51-102 and CSA Staff Notice NR 51-333, issued by the Canadian Securities Administrators. The firms’ voluntary disclosures according to GRI guidelines are also investigated. Substantive legitimacy theory is used to explore the level of substantive disclosures provided by Canadian and French firms. The findings reveal that the French parliamentary regime is more successful than the Canadian stock exchange regulation in triggering environmental reporting, and that the GRI combined with local regimes prompts environmental disclosures. Notwithstanding the improvements in environmental reporting under all three regimes, a very low level of substantive disclosure is noted in both countries. 相似文献