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ABSTRACT**: This article evaluates the impact of the introduction of incentive regulation on firm growth among the population of local exchange carriers in the US telecommunications industry between 1988 and 2001. The results show that the rate of return method and other intermediate incentive...
ABSTRACT**: The paper examines the response of banks to privatization. Using data on all state‐owned banks for the period 1990–2006, the findings indicate that fully state‐owned banks are significantly less profitable than partially privatized ones. The improvements in performance by partially...
ABSTRACT**: Research into the benefits of mergers in small financial institutions, in particular credit unions, is sparse. This study helps to fill this gap by analyzing recent intense merger activity in New Zealand credit unions. The major driver for these mergers was not the usual reason of...
ABSTRACT**: We provide a new explanation for commercial activities by non‐profit organizations whose primary concern is to supply mission output. Starting from the observation that donations to individual non‐profits are often highly volatile, we show how investment in commercial activity can...
ABSTRACT**: This article reports on findings from a three year study of co‐operatives in Sri Lanka and Tanzania. The article asks three questions: why do co‐operative sectors need reforming; what is the co‐operative reform process; and why has reform succeeded in some countries but not others?...
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