tailieunhanh - Research "THREE ESSAYS ON FINANCIAL DISTRESS AND CORPORATE CONTROL "

THREE ESSAYS ON FINANCIAL DISTRESS AND CORPORATE CONTROL Chapter One develops this idea and implements tests of the hypothesis that school effectiveness is an important determinant of residential choices among local-monopoly school districts. I model a Tiebout -style housing market in which house prices ration access to desirable schools, which may be desirable either because they are particularly effective or because they enroll a desirable set of students. I develop observable implications of these two hypotheses for the degree of stratification of student test scores across schools, and I look for evidence of these implications in data on the joint distribution of student characteristics and SAT scores | INFORMATION TO USERS This manuscript has been reproduced from the microfilm master. UMI films the text directly from the original or copy submitted. Thus some thesis and dissertation copies are in typewriter free while others may be from any type of computer printer. The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print colored or poor quality illustrations and photographs print bleedthrough substandard margins and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send UMI a complete manuscript and there are missing pages these will be noted. Also if unauthorized copyright material had to be removed a note will indicate the deletion. Oversize materials . maps drawings charts are reproduced by sectioning the original beginning at the upper left-hand comer and continuing from left to right in equal sections with small overlaps. Each original is also photographed in one exposure and is included in reduced form at the back of the book. Photographs included in the original manuscript have been reproduced xerographically in this copy. Higher quality 6 X 9 black and white photographic prints are available for any photographs or illustrations appearing in this copy for an additional charge. Contact UMI directly to order. UMI A Bell Howell Information Company 300 North Zeeb Road Ann Arbor MI 48106-1346 USA 313 761-4700 800 521-0600 THREE ESSAYS ON FINANCIAL DISTRESS AND CORPORATE CONTROL Matthias Kahl A DISSERTATION in Economics Presented to the Faculties of the University of Pennsylvania in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy 1997 Supervisor of Dissertation Supervisor of Dissertation Graduate Group .