Publications des institutions partenaires
Fairness, Respekt, Verantwortung - Was ist ein tugendhaftes Unternehmen?
Institution partenaire
Deutsch / 01/01/2014
Debt levels, debt composition, and sovereign spreads in emerging and advanced economies
This paper studies the relationship between sovereign spreads and the interaction between debt composition and debt levels in advanced and emerging market countries. It finds that in emerging market countries there is a significant correlation between spreads and debt levels. This correlation, however, is not statistically significant in countries where most public debt is...
Institution partenaire
Institut de hautes études internationales et du développement
/ 06/11/2013
Resistance to agricultural biotechnology: The importance of distinguishing between weak and strong public attitudes
Empirical research shows that European governments and retailers are unlikely to be directly punished by taxpayers and consumers if they move away from their anti-GMO positions and policies. However, it is ultimately not the weak attitudes of taxpayers and consumers that matter to governments and retailers but the strong attitudes of the noisy anti-biotech movement.
Institution partenaire
English / 01/10/2013
Voluntary corporate climate initiatives and regulatory loom: Batten down the hatches
King and Lenox (2001) argued that “when does it pay to be green” might be a more important question for firms than whether it pays at all. We present an event study that suggests that it pays in the tangible presence of regulatory pressure, depending on how well the chosen scheme to become green fits with the threatened regulatory design. To this end, we exploit the unexpected...
Institution partenaire
English / 01/10/2013
Schein und Sein im öffentlichen Diskurs um die Grüne Gentechnik
Seit der ersten kommerziellen Einführung einer Gentechpflanze im Jahre 1996 ist einiges passiert, sowohl in den Medien wie auch auf dem Feld. Mittlerweile werden gentechnisch veränderte Nutzpflanzen weltweit von 17,3 Mio. Bauern auf einer Fläche von 170 Mio. Hektaren angebaut. 90 % dieser Bauern sind Kleinbauern in Indien und anderen Entwicklungsländern, die insbesondere von der...
Institution partenaire
Deutsch / 06/09/2013
An evaluation of the impact of the natural forest protection programme on rural household livelihoods
In this paper, we estimate the impact on local household livelihoods of the Natural Forest Protection Programme (NFPP), the largest logging ban programme in the world that aims to protect watershed and conserve natural forests. In doing so we use a series of policy evaluation micro-econometric techniques to assess the impacts of the NFPP on two interrelated facets of household...
Institution partenaire
Institut de hautes études internationales et du développement
/ 13/08/2013
Strategic sustainability and financial performance: Exploring abnormal returns
The ongoing empirical debate about whether SRI is associated, if anything, with subpar or surpassing financial performance is characterized by a somewhat indistinct focus and the infeasibility of tapping the full potential of existing models. By indistinct focus, we mean an analysis based on an aggregation of a myriad of SRI factors that potentially affect a firm’s financial...
Institution partenaire
English / 01/07/2013
Is inflation targeting dead?: central banking after the crisis
Institution partenaire
Institut de hautes études internationales et du développement
/ 10/06/2013
Will central banking change?
Institution partenaire
Institut de hautes études internationales et du développement
/ 10/06/2013
Export dynamics and sales at home
Institution partenaire
Institut de hautes études internationales et du développement
/ 10/06/2013
Trade in secured debt, adjustment in haircuts and international portfolios
Institution partenaire
Institut de hautes études internationales et du développement
/ 10/06/2013
"Natural" disaster, conflict and aid allocation
Institution partenaire
Institut de hautes études internationales et du développement
/ 10/06/2013
Sustainability and risk in real estate investments: combining monte carlo simulation and dcf
This paper identifies the relative contribution of sustainability criteria to property value risk. We use a discounted cash flow (DCF) model to assess the effect of a given set of 42 sustainability sub-indicators on property value. The anticipated demand for each sustainability sub-indicator is described by four future states of nature. Their impact on costs and/or revenue is...
Institution partenaire
English / 01/06/2013
Do Private Standards encourage or hinder trade and innovation?
Humankind shares a common interest in the safety of the products it uses and consumes and an increasing interest in the way the product has been produced. In a globalized world, private standards play a role in ensuring the safety and sustainability of products and production methods. The co-management of the public good ‘food safety’ by the public and the private sector is not new...
Institution partenaire
English / 01/06/2013
Nachhaltigkeit in Franken und Rappen
Bei Investitionsentscheidungen ist nicht nur die Rendite von Interesse, sondern auch das Risiko. Dies gilt bei Aktien- genauso wie bei Immobilienanlagen. Die Diskussion um Nachhaltigkeit ist u.a. geprägt vom Wunsch, Gutes zu tun. Aus Sicht von Unternehmen spielt dies im Zusammenhang mit Corporate Social Responsiblity eine wichtige Rolle. Aus Investitionssicht steht allerdings die...
Institution partenaire
Deutsch / 29/05/2013
Currency crises in reverse: do large real exchange rate appreciations matter for growth?
While currency crises have been extensively studied, the opposite phenomenon, large appreciations, has been far less researched. We fill this gap by providing an empirical exploration of historical episodes of large real exchange rate appreciations, using a sample of 28 advanced and 25 emerging market economies, with annual data going back to 1970. We focus on the impact of large...
Institution partenaire
Institut de hautes études internationales et du développement
/ 28/05/2013
Understanding Rating Addiction: US Courts and the Origins of Rating Agencies’ Regulatory License (1900-1940)
This paper discusses the “regulatory license” view that reliance by regulators on the output of rating agencies in the 1930s “caused” the agencies to become a central part of the fabric of the US financial system. Exploring pre-1930 court records, we find evidence of a growing reliance on the agencies that pre-dates the regulatory moves of the 1930s. We argue that courts began using...
Institution partenaire
Institut de hautes études internationales et du développement
/ 28/05/2013
Pessimism, optimism and credit rationing
In their celebrated contribution on credit rationing, Stiglitz and Weiss (1981) showed that the expected return to the borrower on a loan is increasing in the risk of the project it funds. In this paper, I show that their results do not necessarily carry over to the case where the agents’ preferences can be described by rank-dependent expected utility (RDEU). In particular, a...
Institution partenaire
Institut de hautes études internationales et du développement
/ 17/05/2013
Public debt and economic growth in advanced economies: a survey
This paper surveys the recent literature on the links between public debt and economic growth in advanced economies. We find that theoretical models yield ambiguous results. Whether high levels of public debt have a negative effect on long-run growth is thus an empirical question. While many papers have found a negative correlation between debt and growth, our reading of the...
Institution partenaire
Institut de hautes études internationales et du développement
/ 17/05/2013
Documenting legal dissonance: regulation of (and by) payback killing in Papua New Guinea
We provide a simple model for considering the interaction between multiple legal regimes existing simultaneously within a single jurisdiction. We demonstrate that, even when the fundamental relationship between outputs of such regimes is to behave as substitutes for one another, the existence of negative externalities between the enforcement technologies can result in the withdrawal...
Institution partenaire
Institut de hautes études internationales et du développement
/ 17/05/2013
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