Does file-sharing reduce DVD sales?

The short-term effect of BitTorrent file-sharing on movie DVD sales is estimated using sales data on newly released DVDs and torrent file downloads during a 13-week period between March and May 2009 in the USA. To overcome endogeneity between downloads and sales, the analysis is carried out in a dynamic panel setting. After controlling for an autoregressive component and a declining time trend in sales, the file-sharing elasticity of sales is not statistically different from zero in the difference GMM estimations. The results hold when external instruments are used. Moreover, the results suggest an upper bound of ?0.21 of elasticity, indicating that the short-term sales displacement effect is moderate at worst.     

The objectivity of corporate environmental reporting: a study of Finnish listed firms' environmental disclosures

This study examines the objectivity of Finnish listed companies' environmental reporting in their ordinary annual reports during the period 1985–1996. We study the firms' practice to disclose negative versus positive environmental events that are ex ante publicly known. As regards the entire research period, the results show that the environmental reporting of the sample firms cannot be considered objective, since the proportional share of negative events reported was negligible compared to the respective percentage for positive events. Copyright © 2001 John Wiley & Sons, Ltd and ERP Environment     

Current Accounts and Coordination of Wage Bargaining

Open Economies Review - This study provides novel evidence on the impact of labor market institutions on current account dynamics. Our results suggest that a high degree of coordination of wage...     

Effects of the European Monetary Union on High-Technology Exports

Journal of Industry, Competition and Trade - Our study estimates the effects of the European Monetary Union (EMU) on high-technology (HT) export and assesses the potential knowledge spillovers of...