infonet-economy

This study examines the antecedents of explorative and exploitative learning of technological knowledge from external corporate ventures. We compare different forms of external corporate venturing, namely corporate venture capital investments, alliances, joint ventures, and acquisitions, as alternative avenues for interorganizational learning. Furthermore, we test the effects of...

In this study we examine how the perception of layoff as a violation of a psychological contract can vary depending upon one's perception of employer contractual obligation. We also investigate how perceptions of layoffs vary depending on whether one is focusing on his/her own layoff or the layoff of someone else. Survey results from 81 layoff victims reveal that respondents...

"Starting from the reward-risk model for portfolio selection introduced in De Giorgi (2004), we derive the reward-risk Capital Asset Pricing Model (CAPM) analogously to the classical mean-variance CAPM. The reward-risk portfolio selection arises from an axiomatic definition of reward and risk measures based on few basic principles, including consistency with second order...

Economic research of the last decade linking macroeconomic fundamentals to asset prices has revealed evidence that standard intertemporal asset pricing theory is not successful in explaining (unconditional) first moments of asset market characteristics such as the risk-free interest rate, equity premium and the Sharpe-ratio. Subsequent empirical research has pursued the question...

Typical of the AIDS epidemics is that governments in developing countries under-invest inndrugs production because of the possible appearance of a curative vaccine. We design a set ofnfinancial tools allowing to hedge against this event and achieving full risk-sharing. We shownthat the introduction of those assets increase social welfare in developing countries, as well asnthe number...

We aim to clarify the role of access charges under two-way network competition, employing a reduced-form approach. Retaining the key features of specific network competition models but imposing less structure, we analyze the impact of changes in access charges on linear and non-linear retail prices. We derive su.cient conditions for usage fees to be increasing (and subscriber charges...