infonet-economy

A company becoming a "good citizen" will not only make the world a better place but will also add to stakeholder and shareholder value. An integrative approach is essential.

In this fictitious conversation Adam Smith (1723-90), who founded the science of political economy, talks to business ethics professor Peter Ulrich through the key passages of his work that his neoliberal interpreters are so fond of (not) quoting.

The impact of the time horizon upon the risk of equity investments is still a controversial issue. In this paper, we analyse long-term risk in a portfolio insurance framework based on option pricing theory. The insurance strategies are implemented alternatively with a portfolio of stocks and put options or bonds and call options. The risk of stock holdings is measured by the…

Coping with complexity is at the heart of management and leadership in the turbulent environments faced by the organizations and societies of our day. The systems approach provides transdisciplinary theories and tools for dealing with this challenge more effectively than efforts merely based on disciplinary insights or pragmatic recipes. In this paper, a concept of "intelligent…

Summary: In this evaluation study the causal effects of different types of rehabilitation programmes on labour market outcomes are estimated. Compared to previous research its main feature is that it evaluates simultaneously multiple programmes by nonparametric matching estimators. The study is based on a sample of 6287 persons in Western Sweden who are long-term sick observed during…

This paper provides a set of stochastic multistage programs where the evolvement of uncertain factors is given by stochastic processes. We treat a practical problem statement within the field of managing fixed-income securities. Detailed information on the used parameter values in various interest rate models is given. Barycentric approximation is applied to obtain computational…

Not available in German. This study analyses the effects of public-sector-sponsored continuous vocational training and retraining in East Germany after unification with West Germany in 1990. It presents econometric estimates of the average gains from training participation in terms of employment probabilities, earnings, and career prospects after the completion of training using a…

The 1990s saw a huge upsurge in flows of private capital from industrial to developing countries. At the beginning of the decade, private and official flows were about the same, but only five years later private flows dwarfed official flows. Not since the late 19th century have international capital flows assumed such prominence. But there are marked differences between the movement…

not available in German Frühere Version: Kraus, F., P. Puhani, V. Steiner (1998), Do Public Works Programmes Work? Some Unpleasant Results from the East German Experience, ZEW Discussion Paper 98-07, Mannheim We analyze the effectiveness of public works programs (PWP, Arbeitsbeschaffungsmassnahmen) in east Germany as measured by their effects on individual future re-employment…