We investigate the determinants of capital structure choice by analyzing the financing decisions of public firms in the major industrialized countries. At an aggregate level, firm leverage is fairly similar across the G-7 countries. We find that factors identified by previous studies as correlated in the cross-section with firm leverage in the U.S., are similarly correlated in other countries as well. However, a deeper examination of the U.S. and foreign evidence suggests that the theoretical underpinnings of the observed correlations are still largely unresolved.

The central proposal of this article is that verbal reports are data. Accounting for verbal reports, as for other kinds of data, requires explication of the mech-anisms by which the reports are generated, and the ways in which they are sensitive to experimental factors (instructions, tasks, etc

, produces internally coherent results, and provides a close correspondence with State Domestic Product (SDP) and poverty rates data. We validate the asset index using data from Indonesia, Pakistan and Nepal which contain data on both consumption expenditures and asset ownership. The asset index has

This paper examines whether the Solow growth model is consistent with the international variation in the standard of living. It shows that an augmented Solow model that includes accumulation of human as well as physical capital provides an excellent description of the cross-country data. The paper

Abstract. Bagging and boosting are methods that generate a diverse ensemble of classifiers by manipulating the training data given to a “base ” learning algorithm. Breiman has pointed out that they rely for their effectiveness on the instability of the base learning algorithm. An alternative

where they can be detected by a production system that responds to patterns of information in the buffers. At any point in time a single production rule is selected to respond to the current pattern. Subsymbolic processes serve to guide the selection of rules to fire as well as the internal operations

to entry mode choice, one focussing on the cultural distance between countries, the other on attitudes towards uncertainty avoidance. Using a multinomial logit model and controlling for other effects, the hypotheses are tested by analyzing data on 228 entries into the United States market by acquisition

-calculus of higher-order functions (the I-calculus and com-binatory algebra), the transmission of processes as values, and the representation of data structures as processes. The paper continues by presenting the algebraic theory of strong bisimilarity and strong equivalence, including a new notion of equivalence

, and efficiency. We briefly describe our experiences with an international network of more than 30 nodes. We close with a list of open problems in anonymous communication. Overview Onion Routing is a distributed overlay network designed to anonymize TCP-based applications like web browsing, secure shell

A model is proposed that specifies the conditions under which individuals will become internally motivated to perform effectively on their jobs. The model focuses on the interaction among three classes of variables: (a) the psychological states of employees that must be present for internally