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On the construction of common size, value and momentum factors in international stock markets: A guide with applications

A major obstacle for research in international asset pricing and corporate finance has been a lack of reliable and publicly available data on international common risk factors and portfolios. To address this gap, we provide a step-by-step description of how appropriately screened data from Thomson Reuters Datastream and Thomson Reuters Worldscope can be used to construct high-quality…

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English / 27/08/2015

The Sustainable Provision of Environmental Services : From Regulation to Innovation

This book addresses the ability of market-based instruments to improve the sustainable provision of environmental services. The author combines field research and insights from the multi-stakeholder dialogue at the FAO to analyze the gap between the predictions provided by theory and the corresponding outcomes in practice. In particular, the author challenges the theory behind…

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English / 01/08/2015

Qualifying “fit”: the performance dynamics of firms’ change tracks through organizational configurations

Organizational configurations, sets of firms with similarities in a number of essential characteristics, provide important insights into the synergies inherent to certain combinations of structural attributes and the performance effects of firms’ retention of, adaptation to, or decoupling from high-performing configurations. The fundamental assumption is that the better a firm’s “fit…

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English / 15/07/2015

Entrepreneurial rights as human rights : Why economic rights must include the human right to science and the freedom to grow through innovation

The contemporary human rights debate is mostly concerned with the protection of people affected by change that is beyond their control. But what about those who make use of their basic economic rights to facilitate economic and social change? Do these agents of change need protection and, if so, how do their activities relate to the current debate on human rights?

In this book…

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English / 01/06/2015

Sustainability and risk Combining Monte Carlo simulation and DCF for Swiss residential buildings

Purpose – This paper aims to identify the relative contribution of sustainability criteria to property value risk. Design/methodology/approach – Adiscounted cash flow (DCF) model is used to assess the effect of a given set of 42 sustainability sub-indicators on property value. The anticipated demand for each sustainability sub-indicator is described by four future states of nature.…

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English / 13/05/2015

Making agricultural innovation systems (AIS) work for development in tropical countries

Agricultural innovation in low-income tropical countries ontributes to a more effective and sustainable use of natural resources and reduces hunger and poverty through economic development in rural areas. Yet, despite numerous recent public and private initiatives to develop capacities for agricultural innovation, such in itiatives are often not well aligned with national efforts…

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English / 13/01/2015

Corporate governance in a risk society

Under conditions of growing interconnected- ness of the global economy, more and more stakeholders are exposed to risks and costs resulting from business activities that are neither regulated nor compensated for by means of national governance. The changing distribution of risks poses a threat to the legitimacy of business firms that normally derive their legitimacy from operating in…

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English / 01/01/2015

Effort provision in entrepreneurial teams - effects of team size, free-riding and peer pressure

This paper analyzes whether effort provision in entrepreneurial teams depends on the size of the team, assuming that size determines the strength of free-riding and peer pressure effects in entrepreneurial teams. We provide a theoretical model and empirical analyses to explain the joint effect of free-riding and peer pressure on effort in start-up teams. We begin with an economic…

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English / 01/01/2015

The impact of skills, working time allocation and peer effects on the entrepreneurial intentions of scientists

Little is currently known about the effects of skill composition on academic entrepreneurship. Therefore, in this paper, following Lazear’s (J Labor Econ 23(4):649–680, 2005) jack-of-all-trades approach, we study how the composition of a scientist’s skills affects his or her intention to become an entrepreneur. Extending Lazear, we examine how the effect of balanced skills is…

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English / 01/01/2015

Does the director election system matter? Evidence from majority voting

We examine the effect of a change in the director election system—the switch from a plurality voting standard to a more stringent standard known as majority voting (MV). Using a regression discontinuity design, we document abnormal returns of 1.43–1.60 % around annual meeting dates where shareholder proposals to adopt MV are voted upon, suggesting that shareholders perceive the…

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English / 01/01/2015

Practical relevance of practice-based research on strategy

In this chapter we review practice-based studies that have examined the ontological and epistemological conditions for producing strategy research that proves relevant to management practice. Drawing on these works, we argue that researchers inevitably adopt a scholastic point of view, which makes it impossible to capture directly the logic of strategy practice. However, scholars can…

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English / 01/01/2015

Much ado about nothing? Sustainability disclosure in the banking industry

This paper examines the sustainability disclosure in the banking industry with respect to potential greenwashing. We build a theoretical framework to assess the sustainability disclosure along materiali-ty criteria in the banking industry and apply this framework to the corporate sustainability reporting of two global systemically important banks. The results of our case study point…

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English / 01/01/2015

Testing for measurement invariance by detecting local misspecification and an illustration across online and paper-and-pencil samples

Political scientists often need to evaluate whether samples are comparable,for example, when analysing different countries or time points or when comparing data collected using different methods. A necessary condition for conducting such meaningful cross-group comparisons is the establishment of measurement invariance. One of the most frequently used procedures for establishing…

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English / 01/01/2015

Skill heterogeneity in startups and its development over time

We study how startup teams are assembled in terms of team member human capital characteristics. To this end, we derive a statistically motivated benchmark for new venture team heterogeneity in terms of observed team member characteristics to generate stylized facts about team member diversity at startup and how it evolves as the new venture matures. We use the population of Danish…

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English / 01/01/2015

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