infonet-economy

Standard sample selection models with non-randomly censored outcomes assume (i) an exclusion restriction (i.e., a variable affecting selection, but not the outcome) and (ii) additive separability of the errors in the selection process. This paper proposes tests for the joint satisfaction of these assumptions by applying the approach of Huber and Mellace (2011) (for testing instrument...

Access to the fast-growing Chinese economy is prized by policymakers and business people. Concerns that European firms are missing out on the Chinese boom have caused soul-searching in Europe about "competitiveness" and led to accusations of Chinese protectionism. For the first 15 members to join the European Union this paper estimates the determinants of the share of each...

Der Schweizer M&A-Markt entwickelte sich im 2. Quarrtal 2013 leicht positiv. So wurden im 2. Quartal 2013 75 Transaktionen mit Schweizer Beteiligung angekündigt,
was eine leichte Erholung im Vergleich zum 1. Quartal 2013 (70 Deals) darstellt und nahezu auf dem Vorjahresniveau (76 Deals) liegt. Ebenso stieg das Transaktionsvolumen im 2. Quartal 2013 um 3,9 Mrd. US-$ im...

This paper investigates the effect of superstar CEOs on their competitors.
Exploiting shocks to CEO status due to awards provided by major media outlets,
we document a significant outperformance of competitors of superstar CEOs to a
control sample of competitors of observationally equivalent CEOs who do not win
an award. We observe an increase in risk-taking...

Die Strasse ist mit einem Anteil von rund 78 % am Güterverkehrsaufkommen der bedeutendste Verkehrsträger der Schweiz. Das relativ dichte Haupt- und Nationalstrassennetz der Schweiz mit einer Länge von rund 71 500 km zieht seinen Bogen vom Genfersee bis zum Bodensee.

Presentation at the conference on "Power and Justice in the Contemporary World-Economy"

Do securities analysts serve as effective external monitors, or do they pressure managers to focus on short-term performance? To explore this question, we study how securities analysts influence managers' use of different types of earnings management. To isolate causality, we employ a quasi-experiment that exploits exogenous reductions in stock-level coverage resulting from...

This study aims to examine the direct and moderating effects of generative learning on customer performance.

The authors test the relationships between CRM capabilities, generative learning, customer performance, and financial performance with a cross industry survey of CEOs and senior marketing executives from 199 firms. Partial Least Squares are used to estimate the...

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...