We propose linear programming tests for spanning and intersection based on stochastic dominance rather than mean-variance analysis. An empirical application investigates the diversification benefits to US investors from emerging equity markets.

This paper presents empirical evidence that security analysts do not efficiently use publicly available macroeconomic information in their earnings forecasts for emerging market stocks. Analysts completely ignore forecasts on political stability, while these provide valuable information for...

Latvian employees have to choose a pension fund for the second-pillar of the Latvian pension system. These pension funds invest about 85% in domestic assets. In this paper, we address the question why this strong home bias might exist. Firstly, we conclude that the Latvian pension law is strict...

We measure the economic value of information derived from macroeconomic variables and from technical trading rules for emerging markets currency investments. Our analysis is based on a sample of 21 emerging markets with a floating exchange rate regime over the period 1997-2007 and explicitly...

A conceptual framework is developed and tested in which supplier downstream position in the supply chain, supplier innovation strategy and customer development commitment are seen as the antecedents of supplier product development activity. Using partial least squares (PLS), we analyze the...

Based on a literature survey, we aim to answer our main question: “How should we plan and execute logistics in supply chains that aim to meet today’s requirements, and how can we support such planning and execution using IT?†Today’s requirements in supply chains include...

VMI (Vendor Managed Inventory) is a widely used cooperative inventory policy in supply chains in which each enterprise has its autonomy in pricing. This paper discusses a leader-follower Stackelberg game in a VMI supply chain where the manufacturer, as a leader, produces a single product with a...

The coordination of just-in-time production and transportation in a network of partially independent facilities to guarantee timely delivery to distributed customers is one of the most challenging aspects of supply chain management. From the theoretical perspective, the timely...

In this article, we discuss ways of actively influencing product returns and we review data-driven methods for forecasting return flows that exploit the fact that future returns are a function of past sales. In particular we assess the value of return forecasting at an operational level,...