Publikationen der Partnerinstitutionen
Strategie unter Unsicherheit Rohe, Anna;Grünig, Rudolf
Unsicherheit und Wandel sind heute beinahe Selbstverständlichkeiten. Trotzdem stellen sie die Unternehmen vor grosse Herausforderungen. Insbesondere die langfristige strategische Ausrichtung ist im Kontext von Unsicherheit und Wandel eine anspruchsvolle Aufgabenstellung. Das vorliegende Working Paper basiert auf zwei Artikeln zu Unsicherheit, Branchenwandel und strategischem Verhalten. Es setzt...
Partner Institution
Université de Fribourg
Ein auf Petri-Netzen basierendes Geschäftsprozessmodell und dessen Anwendung im E-Commerce Frauchiger, Daniel;Meier, Andreas;Teufel, Stephanie
Der Gedanke der prozessorientierten Sicht reicht viele Jahrzente zurück, hat sich aber erst in jüngerer Zeit unter dem Gesichtspunkt von Kunden- und Resultatausrichtung, Qualitätssicherung, Supply Chain Management, Effizienzsteigerung und damit Wettbewerbsfähigkeit durchgesetzt. Der Wechsel von einer Aufbau- hin zu einer Prozessorganisation erfolgt initial im Entwurf und in der Umsetzung des...
Partner Institution
Université de Fribourg
Les rachats d'actions en Suisse. Objectifs, conséquences et pratiques Isakov, Dušan;Dumont, Pierre-André
Les rachats d'actions sont autorisés depuis plus de quinze ans en Suisse. Cet article propose une analyse des rachats dans le contexte institutionnel, fiscal et juridique helvétique. Après avoir décrit les principales techniques de rachat à disposition des entreprises et les objectifs visés par une telle opération, ce travail analyse l'effet des rachats sur les ratios financiers et la...
Partner Institution
Université de Fribourg
From a magnetic board to an interactive planning support system Uldry, Marc;Widmer, Marino;Cimenteries;Logistique (organisation);Systèmes d'information de gestion
Partner Institution
Université de Fribourg
Ageing, productivity, and earnings Wasmer, Malgorzata;Madiès, Thierry;Lalive, Rafael, UNIL;productivité -- salaire -- travailleur âgé -- [document électronique];productivité -- salaire -- travailleur âgé -- * économétrie -- [document électronique]
Partner Institution
Université de Fribourg
The transfer of human resource practices from American and European multinational companies to their Lebanese subsidiaries Nakhle, Samer François;Davoine, Eric;Morschett, Dirk
Partner Institution
Université de Fribourg
Quantifying Optimal Growth Policy Grossmann, Volker;Steger, Thomas M.;Trimborn, Timo
The optimal mix of growth policies is determined within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and accounts for transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct approximately all oft heircapital and R&D costs from sales revenue. Our analysis suggests that this policy...
Partner Institution
Université de Fribourg
Price stability and financial imbalances: rethinking the macrofinancial framework after the 2007-8 financial crisis Panzera, Fabio S.
During the two decades preceding the 2007-8 financial crisis, both advanced and emerging market economies experienced larger credit growth and asset price fluctuations than in the more distant past. These phenomena were largely due to the establishment of credible inflation targeting regimes, whose excessive focus on medium-run price stability bred unsustainable credit and asset price dynamics,...
Partner Institution
Université de Fribourg
Technical Analysis with a Long-Term Perspective: Trading Strategies and Market Timing Ability Isakov, Dušan;Marti, Didier
This paper extends the literature on the profitability of technical analysis in three directions. First, we investigate the performance of complex trading rules based on moving averages computed over longer periods than those usually considered. Different trading rules are simulated on daily prices of the Standard & Poor's 500 index and we find that trading rules are more profitable when signals...
Partner Institution
Université de Fribourg
Une analyse critique de la composition des exportations du canton du Tessin et une appréciation des risques d'une revalorisation du franc suisse Massonnet, Jonathan
Afin d'apprécier les risques d'une revalorisation du taux de change du franc suisse pour l'économie du canton du Tessin, cet article débute par une analyse critique de la structure de ses exportations, selon une méthodologie que nous avons développée dans un article connexe relatif à l'économie fribourgeoise (Massonnet, 2011). Après avoir brièvement exposé la structure économique du...
Partner Institution
Université de Fribourg
L'économie fribourgeoise: une analyse critique de son extraversion internationale et une appréciation des risques d'une revalorisation du franc suisse Massonnet, Jonathan
Cet article a pour objectifs d'apprécier les risques d'une revalorisation du franc suisse pour l'économie du canton de Fribourg et de mener une analyse critique de l'extraversion internationale de cette dernière. Après avoir souligné les implications au niveau théorique d'une augmentation du taux de change de sa monnaie pour l'économie nationale et l'importance de la demande extérieure,...
Partner Institution
Université de Fribourg
The determinants of stock returns in a small open economy Cauchie, Séverine;Hoesli, Martin;Isakov, Dušan
This paper examines the determinants of stock returns in a small open economy using an APT framework. The analysis is conducted for the Swiss stock market which has the particularity of including a large proportion of firms that are exposed to foreign economic conditions. Both a statistical and a macroeconomic implementation of the model are performed for the period 1986-2002 with monthly returns...
Partner Institution
Université de Fribourg
Application of simple technical trading rules to Swiss stock prices Isakov, Dušan;Hollistein, Marc
Partner Institution
Université de Fribourg
Multivariate Downside Risk: Normal versus Variance Gamma Wallmeier, Martin;Diethelm, Martin
Partner Institution
Université de Fribourg
Beyond Payoff Diagrams: How to Present Risk and Return Characteristics of Structured Products Wallmeier, Martin
Partner Institution
Université de Fribourg
Smile in Motion : An Intraday Analysis of Asymmetric Implied Volatility Wallmeier, Martin
We present a new method to measure the intraday relationship between movements of implied volatility smiles and stock returns. It is based on an enhanced smile regression model which captures patterns in the intraday data which have not yet been reported in the literature. Using transaction data for exchange-traded EuroStoxx 50 options from 2000 to 2011 and DAX options from 1995 to 2011, we show...
Partner Institution
Université de Fribourg
The Econometric Foundations of Hedonic Elementary Price Indices Brachinger, Hans Wolfgang;Beer, Michael
Hedonic methods are currently considered state-of-the-art for handling quality changes when compiling consumer price indices. The present article proposes first a mathematical description of characteristics and of elementary aggregates. In a following step, a hedonic econometric model is formulated and hedonic elementary population indices are defined. These indices extend from simple indices...
Partner Institution
Université de Fribourg
Décentralisation au Burkina-Faso Ky, Abraham;Dafflon, Bernard;Madiès, Thierry
Partner Institution
Université de Fribourg
Local financial autonomy in theory and practice Beer-Tóth, Krisztina;Dafflon, Bernard;Guess, George
Although financial autonomy is a recurrent notion in the literature on fiscal federalism and decentralisation, it has seldom been the focus of scientific analysis. This book explores the meaning of financial autonomy at subnational levels of government, its relationship with the principle of subsidiarity, as well as its impact on the three economic branches of government activity: allocation,...
Partner Institution
Université de Fribourg
Local debt: from budget responsibility to fiscal discipline Dafflon, Bernard
In the past thirty years, local governments in most European countries have been granted at least limited access to borrowing. The rules in force include limitations on the amount of borrowing and/or debt service, restrictions on the purpose of debt and on borrowing from foreign institutions and/or from the central bank. The description of these rules and sanctions constitute the thrust of...
Partner Institution
Université de Fribourg
Treffer 1 - 20 von 68
