infonet-economy

In Basel II the regulators stress the importance of finding realistic volumes models for non-maturing accounts (NMAs), given their cash-flow uncer- tainty due to optionality. Focusing on Swiss savings accounts, we identify their seasonal pattern and we derive their sensitivity to market rates and to relevant macroeconomic factors. We derive a realistic volumes model, that allows for…

Viele Kleinbetriebe mit familiären Verbindungen sind als juristische Personen organisiert und führen dabei einen Franchisebetrieb. Ob solche Gesellschaften als Familienbetriebe i.S.v. Art. 4 ArG gelten können und somit vom Geltungsbereich dieses Gesetzes ausgenommen sind, wird in der kantonalen Verwaltungspraxis unterschiedlich beurteilt. Dieser Aufsatz zeigt anhand der Auslegung von…

In this paper, we construct the three-factor model introduced by Chen et al. (2010) for a European sample covering 10 countries from the European Monetary Union and the period from 1990 to 2006. Two key findings result. First, we show that the properties of the European factors are comparable to those of the U.S. factors. Second, we show that the alternative three-factor model's…

The concept of autopoiesis introduced by Maturana and Varela has, in the last four decades, triggered intellectual efforts for the understanding of phenomena of self-organization in general. This contribution aims at conceptualizing and applying two aspects of autopoiesis-operational closure and self-reference-in respect of social organizations. We formalize these concepts and…

Purpose - The purpose of this paper is to demonstrate the potential of making the systems approach fertile for the future of our world(s).
Design/methodology/approach - Underpinned by a significant case study, the idea of the paper is to show how a systems study changed the basis for deciding on an incisive interference planned for a lovely alpine valley. The study builds on a…