Publications des institutions partenaires
Jürgen Habermas and Organization Studies – Contributions and Future Prospects
Institution partenaire
English / 01/01/2014
A comparison of different pay-per-bid auction formats
Pay-per-bid auctions are a popular new type of Internet auction that is unique because a fee is charged for each bid that is placed. This paper uses a theoretical model and three large empirical data sets with 44,614 ascending and 1,460 descending pay-per-bid auctions to compare the economic effects of different pay-per-bid auction formats, such as different price increments and…
Institution partenaire
English / 01/01/2014
Synthesizing a giant literature: a narrative of quantitative evidence on causes and consequences of financial sector development
The aim of this synthesis paper is to provide a narrative to the empirical findings of the comprehensive literature review concerning the quantitative effects of financial development on economic growth and employment and various determinants of financial sector development. The literature review has been restricted mostly to high-quality academic research that focus on developing…
Institution partenaire
Institut de hautes études internationales et du développement
English / 13/08/2013
Public debt and economic growth: is there a causal effect?
This paper uses an instrumental variable approach to study whether public debt has a causal effect on economic growth in a sample of OECD countries. The results are consistent with the existing literature that has found a negative correlation between debt and growth. However, the link between debt and growth disappears once we instrument debt with a variable that captures valuation…
Institution partenaire
Institut de hautes études internationales et du développement
English / 21/05/2013
Havas and the foreign loan market, 1889 to 1921
Institution partenaire
Institut de hautes études internationales et du développement
English / 17/05/2013
Profits vs. impact: what can microfinance teach us?
How can the private sector work for development? This paper provides answers to this question from the firms’ perspective by examining the trade-offs that private firms face between maximizing their profits and achieving a positive social impact. In particular, it considers the experience of microfinance as the best available data source from the point of view of a firm engaged in…
Institution partenaire
Institut de hautes études internationales et du développement
English / 17/05/2013
The perils of performance measurement in the German mutual-fund industry
We document a curious feature of the German mutual fund industry. Unlike U.S. mutual funds, funds domiciled in Germany do not necessarily compute their net asset values (NAV) as of market close. Using a sample of German equity funds, we infer each fund's NAV closing time from the best-fit market model using both maximum likelihood and Bayesian estimation. The results of both…
Institution partenaire
English / 17/05/2013
Inequality, poverty and the 2010 election
Institution partenaire
Institut de hautes études internationales et du développement
English / 08/04/2013
Specific investment and negotiated transfer pricing in an international transfer pricing model
We study the efficiency of negotiated transfer pricing for solving a bilateral hold-up problem in a multinational enterprise. We show that negotiated transfer pricing will generally not provide incentives for an efficient renegotiation of the initial contract and efficient investments because the divisions possess only one instrument for solving two problems. Either they minimize…
Institution partenaire
English / 01/01/2013
Specific investment and negotiated transfer pricing in an international transfer pricing model
We study the efficiency of negotiated transfer pricing for solving a bilateral hold-up problem in a multinational enterprise. We show that negotiated transfer pricing will generally not provide incentives for an efficient renegotiation of the initial contract and efficient investments because the divisions possess only one instrument for solving two problems. Either they minimize…
Institution partenaire
English / 01/01/2013
Heterogeneous Returns to Education Over the Wage Distribution: Who Profits the Most?
Institution partenaire
English / 01/01/2013
Why do corporate actors engage in pro-social behavior? A Bourdieusian perspective on CSR
Drawing on Pierre Bourdieu’s theory of social practice, this article develops a novel approach to the study of corporate social responsibility (CSR). According to this approach, pro-social activities are conceptualized as social practices that individual managers employ in their efforts to attain social power. Whether such practices are enacted or not depends on (1) the particular…
Institution partenaire
English / 01/01/2013
Aubin property and uniqueness of solutions in cone constrained optimization
We discuss conditions for the Aubin property of solutions to perturbed cone constrained programs, by using and refining results given in Klatte-Kummer "Nonsmooth Equations in Optimization", Kluwer, 2002. In particular, we show that constraint nondegeneracy and hence uniqueness of the multiplier is necessary for the Aubin property of the critical point map. Moreover, we give…
Institution partenaire
English / 01/01/2013
Theory matters for financial advice!
We show that the optimal asset allocation for an investor depends crucially on the theory with which the investor is modeled. For the same market data and the same client data different theories lead to different portfolios. The market data we consider is standard asset allocation data. The client data is determined by a standard risk profiling question and the theories we apply are…
Institution partenaire
English / 01/01/2013
Margin Regulation and Volatility
In this paper we examine the quantitative effects of margin regulation on volatility in asset markets. We consider a general equilibrium infinite-horizon economy with heterogeneous agents and collateral constraints. There are two assets in the economy which can be used as collateral for short-term loans. For the first asset the margin requirement is exogenously regulated while the…
Institution partenaire
English / 01/01/2013
Explaining cooperative enterprises through knowledge acquisition outcomes
This paper develops a model of a cooperative enterprise and compares it to a vertically separated market. In our model of a multi-stage production process, agents can acquire costly knowledge to decrease production costs. Our model shows that the cooperative acquires less non-generalizable knowledge than the market, but more generalizable knowledge if the large member in the…
Institution partenaire
English / 01/01/2013
Essays on organizational search and adaptation in complex environments
Institution partenaire
English / 01/01/2013
Advertising pricing models in media markets: Lump-sum versus per-consumer charges
Based on a model of asymmetric competition between a pay and a free media platform, this paper investigates advertising pricing models. The pay media platform generates revenues from media consumers through subscription fees, while the free media platform generates revenues from charging advertisers either on a lump-sum basis (regime A) or on a per-consumer basis (regime B). We show…
Institution partenaire
English / 01/01/2013
Incentive effects of bonus taxes in a principal-agent model
Several countries have implemented bonus taxes for corporate executives in response to the current financial crisis. Using a principal-agent model, this paper investigates the incentive effects of bonus taxes by analyzing the agent's and principal's behavior. Specifically, we show how bonus taxes affect the agent's incentives to exert effort and the principal's…
Institution partenaire
English / 01/01/2013
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