This paper aims at critically discussing the recent literature on firm formation and survival and the growth of new-born firms. The basic purpose is to single out the microeconomic entrepreneurial foundations of industrial dynamics entry and exit and to characterise the founder's ex-ante features in terms of likely ex-post business...
This paper surveys the effects of outward foreign direct investment on the developed home countries of multinational corporations. The focus is on the production interactions arising from outward investment - what is the impact on home country exports and production structure - but the paper also discusses effects on investment,...
This paper tests empirically whether pension information derived by accounting disclosures is priced in corporate bond spreads. The model builds on the literature on structural models of bond spreads initiated by Merton (1974) and is tested using US corporate and bond data for the period 2001-2003. A key conclusion is...
The aim of this paper is to discuss leadership in art and culture creating organizations. One asks: Do we need the old tales of leaders as heroes? Why not view the whole working team, including the leader, as a hero! The question is of significance because of ethical aspects, but...
Basic concepts of captive insurance companies are reviewed from reinsurers' point of view. The basics are then expanded to give insights into understanding what differentiates captives from commercial insurers, the core matters of interest to reinsurance professionals. The conclusion is in the form of some key factors for reinsurance success...
During the past half century, multilateral trade liberalization has reduced tariffs to historically low levels. The Received Theory of multilateral trade agreements, based solely on terms-of trade externalities between national governments, offers an explanation that has become the conventional wisdom among international trade theorists. But it displays two puzzles that...
In this paper the OECD's Interlink model is used to explore several possible channels through which a narrowing of the US current account deficit could occur. A key conclusion is that shocks would have to be very large in order to materially reduce the US external deficit. The exchange rate...
The digital economy is based on knowledge and the ultimate objective is the reinforcement of performance. The business strategy has been shifted from the management of tangible assets to intangible resources and the traditional competitive position of business is based on their capacity for effective action. The conclusion is that...
In policymaking and insurance rate setting process, understanding and managing claim frequency are crucial issues. Owing to the importance attached to the dynamics of claims frequency in insurance ratemaking and in implementing workplace safety measures, this paper intends to walk through the basic steps in the econometric modeling and forecasting...
This paper reports on a study assessing the consistency of usability testing across organisations. Nine independent organisations evaluated the usability of the same website, Microsoft Hotmail. The results document a wide difference in selection and application of methodology, resources applied, and problems reported. The organizations reported 310 different usability problems....
This paper reviews trends in the use of international outsourcing in the Information Technology IT industry and explores implications for the U.S. workforce. Workforce employment projections and the trend for globalization in the IT industry are analyzed. An analogy is developed between current trends in IT workforce and the globalization...
While consumer eating pattern change as quickly as fashion, consumption growth keeps the food processing industry expanding. As the U.S. economy eventually starts growing faster and the economy will benefit from stronger domestic food sales," said by Agriculture Chief Economist Keith Collins during the Agricultural Outlook Forum 2003 American consumers...
This paper surveys the issue of exchange rate regime choice from the perspective of both the industrial and emerging economies taking an historical perspective. The paper first surveys the theoretical issues beginning with taxonomy of regimes. It then examines the empirical evidence on the delineation of regimes and their macroeconomic...
In this paper estimates hedonic models to analyze the macro- and microeconomic determinants of the pricing of syndicated credits granted to developing country borrowers using the risk return framework. The conclusion is that certain microeconomic characteristics of developing country syndicated loans generally affect their pricing in the expected way (ie...
This paper examines the short and long-term persistence of tax-exempt real estate funds through the use of winner-loser contingency table methodology. The persistence tests are applied to a database of varying numbers of funds from a low of 16 to a high of 27 using quarterly returns over the 12...
Negotiating is the process by which two or more parties with different needs and goals work to find a mutually acceptable solution to an issue. Because negotiating is an inter-personal process, each negotiating situation is different, and influenced by each party's skills, attitudes and style. We often look at negotiating...
This research investigates the persistence of investment risk across time horizon, a crucial issue in asset allocation decisions. Previous empirical results have focused mainly on US data and suffer from limited sample size in the analysis of long-horizon returns. Investigation of a long- term sample of thirty countries provides additional...
The relationship between foreign direct investment FDI and less developed countries LDCs is controversial. Dependency thinkers and their heirs argue that FDI is a conduit for neoimperialist exploitation of LDCs by the wealthy. Modernization theorists and their descendents see FDI as a source of values, practices and economic goods that...
The difficulty with indecency in the media is that while adults have a First Amendment right prohibiting laws from abridging their freedom of speech, the United States Supreme Court has acknowledged the government has a compelling interest in trying to protect minors from harmful speech. The Supreme Court has "long...
Recently, there has been a lot of discussion about whether and how much the U.S. stock market is overvalued, leading some economic gurus to suggest that foreign markets may be good investments. It ask whether this is the case and apply the Gordon formula to predict future real rates of...
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