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Linear and Nonlinear Foreign Exchange Rate Exposures of German Nonfinancial Corporations

Bartram, Sohnke M. - EconWPA - 2002

It has been viewed as an unsolved puzzle that only for a small number of firms a significant impact of foreign exchange rate risk on firm value could be detected empirically. This paper investigates whether the results of previous studies can be explained by the fact that only the linear...

Persistent link: https://www.econbiz.de/10005134773

The Impact of the Introduction of the Euro on Foreign Exchange Rate Risk Exposures

Bartram, Sohnke M.; Karolyi, G. Andrew - EconWPA - 2002

This paper examines whether the introduction of the Euro in 1999 was associated with lower stock return volatility, market risk exposures and foreign exchange rate risk exposures for 12,821 nonfinancial firms in Europe, the United States, and Japan. We show that though the Euro led to a...

Persistent link: https://www.econbiz.de/10005413119

Charges, Costs and Market Power: the Deregulated UK Electricity Retail Market

SALIES, Evens; PRICE, Catherine WADDAMS - EconWPA - 2005

The residential UK electricity market was opened for the first time in 1999, introducing choice of supplier, and about 40% of households changed supplier in the first four years. After three years price caps were removed. We review this process and assess the competitiveness of the market by...

Persistent link: https://www.econbiz.de/10005561441

The Valuation of Inflation-Indexed and FX Convertible Bonds

Landskroner, Yoram; Raviv, Alon - EconWPA - 2004

important subgroup is convertibles linked to a price index or exchange rate. In this paper we extend the convertible pricing … establish upper and lower bounds for the price of the indexed convertible. We approximate the pricing equations by using …, we demonstrate the usefulnes and the limitations of the pricing model by using convertible traded on the Tel- Aviv stock …

Persistent link: https://www.econbiz.de/10005561658

Value Creation and Profit Optimization

Winther, K. Tobias - EconWPA - 2002

The present paper develops a basic framework for evaluating and optimizing profits in a business operation. In developing a business we are often faced with an infinity of choices ranging from what products or services to sell and what customers to target to how to structure and manage the...

Persistent link: https://www.econbiz.de/10005561773

Returns Policies and Retail Price Competition

Padmanabhan, V.; Png, I.P.L. - EconWPA - 2004

We show that returns policies do increase manufacturer profitability by attenuating price competition between retailers. This effect holds only in the presence of end-user demand uncertainty. The conditions under which a returns policy raises the manufacturer's profit are weaker when retailing...

Persistent link: https://www.econbiz.de/10005134512

Mark-up and Capital Structure of the Firm facing Uncertainty

Chatelain - EconWPA - 2004

This note shows that, with pre-set price and capital decisions of firms facing uncertainty and financial market imperfections, price, mark up and the expected degree of capacity utilization (resp. capital) decreases (resp. increases) with the firm internal net worth.

Persistent link: https://www.econbiz.de/10005134898

Bundling Models in Retail Banking Sector /in Slovakia/

Fusek, Peter - EconWPA - 2004

The current overview of bundling theory is combined with author's experiences of its practical application into several step-by-step guidelines. These models consist of the whole process of the construction and performance appraisal of product bundles in retail banking sector and show how the...

Persistent link: https://www.econbiz.de/10005134983

Pricing on the Internet

Daripa, Arup; Kapur, Sandeep - EconWPA - 2003

competition. Where firms have some market power, as in the market for information goods, we expect discriminatory pricing to … well as economic efficiency, and may emerge as the principal pricing method for a large number of goods and services. …

Persistent link: https://www.econbiz.de/10005134996

The Role of Responsive Pricing in the Internet

MacKie-Mason, Jeffrey K.; Murphy, Liam; Murphy, John - EconWPA - 1996

how this responsive pricing puts control of network service back where it belongs: with the users. …

Persistent link: https://www.econbiz.de/10005135089