infonet-economy

This paper provides an empirical analysis of the network characteristics of two interrelated interbank money markets and their impact on overall market conditions. Based on transaction data from the unsecured and secured Swiss franc money markets, the trading network structures are assessed before, during and after the financial market crisis. It can be shown that banks in the…

What is the added value of a security which qualifies as a "high-quality liquid asset" (HQLA) under the Basel III "Liquidity Coverage Ratio" (LCR)? In this paper, we quantify the added value in terms of yield changes and, as suggested by Stein (2013), call it HQLA premium. To do so, we exploit the introduction of the LCR in Switzerland as a unique quasi-natural experiment and we find…

The global Great Recession has sparked renewed interest in the relationships between financial conditions and real activity. This paper considers the Swiss experience, studying the impact of credit market conditions and housing prices on real activity over the last three decades through the lens of a medium-scale structural Bayesian vector autoregressive model (BVAR). From a…

Purpose: This paper demonstrates that additive manufacturing (AM), as a technological driver, has the potential to change the structural composition of entire supply chains. The research comprises a first, systematic analysis about the impact of AM on the network structures in engineer-to-order supply chains.

Research Approach: The paper pursues an inductive research…

This paper explores the mutual links between corpor ate social responsibility (CSR), corporate governan ce (CG), and corporate financial performance (CFP). We aim to in vestigate the extent to which a firm's internal CG structures may influence its CSR practices and the resulting impac t on its financial performances. To take into accou nt the mutual interactions between these…

The extant body of literature regularly describes the internationalization pattern of born globals as haphazard, random, chaotic, unstructured or nonlinear at best. Moreover it is said that born globals often venture abroad in an opportunistic fashion and that their internationalization efforts are often triggered by an unsolicited request of a potenti al client. Analyzing a…

Volition is a determinant psychological factor in entrepreneurship to better understand the behavior of entrepreneurs. This study analyzes the personal characteristics that determine the route of entrepreneurial actions by analyzing volitional skills of three categories of people: students, potential entrepreneurs, and active entrepreneurs. The results show that individuals mobilize…

This dissertation focuses on the barriers that authenticity brings to entrepreneurial outcomes such as entry of new organizations, product diversification, and introduction of new products in traditional industries. Advancing theory on organizational authenticity and geographical communities, this thesis argues that authenticity is not only an asset that organizations can choose…

This paper explores the expressive ability of the external habit mechanism. I show that whenever the stochastic discount factor (SDF) is a function of aggregate consumption, there exists a representative agent external habit model that replicates that SDF. I also show that within this framework the other utility function parameters become indeterminate, in that a different choice of…