infonet-economy

We propose a novel regime-switching approach for the simulation of electricity spot prices that is inspired by the class of fundamental models and takes into account the relation between spot and forward prices. Additionally the model is able to reproduce spikes and negative prices. Market prices are derived given an observed forward curve. We distinguish between a base regime and an…

With the growing importance of the cultural economy in many Western cities the experience of public space has become a focal point in the organization and planning of urban life. While this aesthetic reengineering of urban life clearly follows the paradigm of the entrepreneurial city, it raises the question if and how other modes and moods of ordering urban public space can…

Using a supplier-client matched sample, we study the effect of the 2007-2008 financial crisis on between-firm liquidity provision. Consistent with a causal effect of a negative shock to bank credit, we find that firms with high pre-crisis liquidity levels increased the trade credit extended to other corporations and subsequently experienced better performance as compared to ex-ante…

We integrate research on family business and discontinuous change to better explain why incumbents vary in when and how they adopt discontinuous technologies. Family influence induces companies to strive for continuity, command, community, and connections, and thus alters the mix of constraints under which firms operate. Consequently, family influence weakens several of the inertial…

Based on the findings of a qualitative empirical study of corporate social responsibility (CSR) in Swiss MNCs and SMEs, we suggest that smaller firms are not necessarily less advanced in organizing CSR than large firms. Results according to theoretically derived assessment frameworks illustrate the actual implementation status of CSR in organizational practices. We propose that small…

Sample selection and attrition are inherent in a range of treatment evaluation problems such as the estimation of the returns to schooling or training. Conventional estimators tackling selection bias typically rely on restrictive functional form assumptions that are unlikely to hold in reality. This paper shows identification of average and quantile treatment effects in the presence…

With this paper we want to find out which factors influence beta coefficient of logistics service providers. The systematic risk (beta coefficient, ?) of LSPs becomes more and more important for strategic decision making of LSPs, as it helps calculating the cost of capital. The cost of capital is an important factor when assessing LSPs' (future) investments, strategies and…