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We analyze a problem of maximization of expected terminal wealth and consumption under constraints in a general framework including financial models with constrained portfolios, labor income and large investor models. By using general optional decomposition under constraints in a multiplicative...
Persistent link: https://www.econbiz.de/10005134845
Persistent link: https://www.econbiz.de/10000910052
Persistent link: https://www.econbiz.de/10005125982
OIL AS AN ENERGY PROPELLER, IS THE LARGEST INTERNATIONALLY TRADED COMMODITY THAT SHOWS HIGHLY VISIBLE INTERPLAY OF POLITICS AND ECONOMICS IN THE DETERMINATION OF ITS INVESTMENT, PRODUCTION, TRADE AND PRICING POLICIES. THIS UNIQUENESS, NO DOUBT DEMANDS A WELL ARTICULATED OIL POLICY FOR AN OIL...
Persistent link: https://www.econbiz.de/10005412462
The debate on the relationship between environmental regulation and competitiveness has been a topic of discussion for a number of years now. As early as 1991, the American economist Michael E. Porter proposed that stringent environmental regulation (under the condition that it is efficient) can...
Persistent link: https://www.econbiz.de/10005556930
about state capacity in Nigeria by taking stock of economic and governance issues. Using a simple growth model, we …
Persistent link: https://www.econbiz.de/10005076578
topic of governance saw us fly off in many directions, and after some discussion of public sector reform processes we found … the aspects of governance, however, allows little to be studied in depth, and anyway that is not the objective of this … research project. This paper therefore begins by making clear the nature of governance generally and then how and why this …
Persistent link: https://www.econbiz.de/10005125943
Traditionally, national governance and corruption challenges have been seen as: i) particularly daunting in the poorer … institutions, iii) a challenge within public sectors, and, iv) divorced from global governance or security issues - seen as … governance constraints, and corruption in particular, is a key determinant of a country's global competitiveness. These findings …
Persistent link: https://www.econbiz.de/10005408399
This study analyzes the interaction of agency problems in public policy and of agency problems inside the firm: it investigates the case of a large privatized firm subject to many policy constraints. The last steps of Telefonica's privatization were designed to promote a disperse ownership and...
Persistent link: https://www.econbiz.de/10005413213
This paper analyses the efficacy of the governance structure of occupational pension funds (Pensionskassen – PKs) in … distribution of power, by the underlying governance structure of PKs. This section focuses on the structural conflict of interest … companies). The institutional interests of PKs are determined by the governance structure at the micro and meso levels and the …
Persistent link: https://www.econbiz.de/10005561560