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Finding a path in the sustainability jungle. A framework for corporate action.
Seelos, Christian - EconWPA - 2005
Collective concerns about sustainable development and proposals about how to achieve sustainability have produced a … sustainability; and yet the lack of clear definitions has left a vacuum of corporate guidance. Corporate Social Responsibility (CSR …) has become a synonym for corporate action towards sustainability, but companies continue to struggle to understand how to …
Persistent link: https://www.econbiz.de/10005062681
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Wertschaffendes Umweltmanagement. Keine Nachhaltigkeit ohne ökonomischen Erfolg. Kein ökonomischer Erfolg ohne Nachhaltigkeit
Figge, Frank - EconWPA - 2004
Die Studie „Wertschaffendes Umweltmanagement“ betrachtet den Zusammenhang zwischen Umweltaspekten und Unternehmenswert. Hierbei bezieht sie erstmals zwei unterschiedliche, sich ergänzende Bewertungsverfahren ein: Sie nimmt erstens das Konzept des Environmental Shareholder Value auf und...
Persistent link: https://www.econbiz.de/10005407755
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Impacts of Native Vegetation and Biodiversity Regulations
Commission, Productivity - EconWPA - 2004
Australian, state and territory regimes came under review for the Commission’s inquiry into native vegetation and biodiversity regulations. The Commission’s preliminary findings were released for public comment in December 2003. It found that the cost of farm regulations could be reduced if...
Persistent link: https://www.econbiz.de/10005556186
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Precautionary Portfolio Behavior from a Life-Cycle Perspective
Bertaut, Carol C.; Haliassos, Michael - EconWPA - 1996
factors on mean and median asset holdings, including education, risk aversion, household heterogeneity, bequests, impatience …
Persistent link: https://www.econbiz.de/10005134929
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Borrowing Constraints, Portfolio Choice, and Precautionary
Haliassos, Michael; Hassapis, Christis - EconWPA - 1998
This paper studies effects of two classes of borrowing constraints, collateral- and income-based, on wealth accumulation, portfolio behavior and on precautionary motives. We examine the sensitivity of solutions to tightness of constraints, education level, and preference parameters. The models...
Persistent link: https://www.econbiz.de/10005412592
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Equity Premium and Consumption Sensitivity When the Consumer- Investor Allows for Unfavorable Circumstances
Chow, Gregory C. - EconWPA - 2003
of the permanent income hypothesis.The implications of the theory agree with empirical results reported here and …
Persistent link: https://www.econbiz.de/10005076751
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The Effect of Macroeconomic Factors on Asset Returns: A Comparative Analysis of the German and the Turkish Stock Markets in an APT Framework
Altay, Erdinc - EconWPA - 2003
This paper uses factor analytic techniques for deriving factor realizations from a group of main economic indicators of both the German and the Turkish economy in order to test the effect of economic factors on asset returns in an APT framework. The factor structure of the German economy yields...
Persistent link: https://www.econbiz.de/10005076970
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Long-Run Cash-Flow and Discount-Rate Risks in the Cross-Section of US Returns
Koubouros, Michail; Malliaropulos, Dimitrios; … - EconWPA - 2005
Merton�s Intertemporal CAPM to test whether these four sources of risk command different risk prices. The model performs well …-price ratios and past risk. It generates high estimates for the explained cross-sectional variation in average returns, lower … coefficient of relative risk aversion. …
Persistent link: https://www.econbiz.de/10005076992
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Explaining the Beta, Size and Value Effects Under the Relative Value Theory
Alb, Silviu Iulian - EconWPA - 2004
The RVT predicts equilibrium prices in a world where investors ignore variance and only care about cumulative returns. Such prices determine intrinsic returns that satisfy the CAPM equation. This paper shows that assets that pay a constant (or constantly increasing) dividend but face each year...
Persistent link: https://www.econbiz.de/10005076993
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Realized Volatility and Asymmetries in the A.S.E. Returns
Thomakos, Dimitrios D.; Koubouros, Michail S. - EconWPA - 2005
unconditional loadings on the realized risk factor(s) for different sets of characteristics-sorted common stock portfolios. We find … that realized risk is a significantly priced factor in A.S.E. and its high explanatory power for the cross- section of …, as well as the literature on the pricing power of realized risk. …
Persistent link: https://www.econbiz.de/10005077019