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In this inaugural lecture, Taco briefly describes the disciplinary background, central research questions, and themes of Global Strategy, and he presents what may be the dominant framework of understanding how global strategy works and what determines its success. In a nutshell, the formation...
Persistent link: https://www.econbiz.de/10011094033
Business is becoming increasingly international. At the same time, governments are intervening more in the conduct of business. A further development is the growing significance of emerging economies, many of which have a tradition of active government involvement with business. Taken together,...
Persistent link: https://www.econbiz.de/10010837398
The dependence between asset returns varies. Its strength can become stronger or weaker. Also, its structure can change, for example, when asymmetries related to bull and bear markets become more or less pronounced. To analyze these different types of variations, we develop a model that...
Persistent link: https://www.econbiz.de/10010837537
__Abstract__ Address delivered in shortened form at the occasion of accepting the appointment as Extraordinary Professor of Financial markets on behalf of Vereniging Trustfonds EUR at the Rotterdam School of Management, on Friday March 7, 2014. "In this address, I consider “The Social Value of...
Persistent link: https://www.econbiz.de/10011149195
The present paper examines firm size effects on the decision of venture capital firms to participate in a venture capital investment syndication network. The authors submit that firm size effects in venture capital syndication are dependent on resource acquisition motives and transaction cost...
Persistent link: https://www.econbiz.de/10011242170
Abe de Jong (1970) is Professor in Corporate Finance and Corporate Governance at RSM Erasmus University. He obtained a PhD in finance at Tilburg University (1999). His research and teaching interests are in the area of empirical corporate finance and include capital structure choice, dividend...
Persistent link: https://www.econbiz.de/10010730461
News plays a crucial role in determining prices in financial markets. In an efficient market, current prices fully and correctly reflect all available information, such that only truly new information leads to price adjustment. This lecture shows that using high-frequency data makes it possible...
Persistent link: https://www.econbiz.de/10010730466
Private equity has become an increasingly important part of our economy. Around the world the companies owned by private equity investors account for a substantial percentage of Gross Domestic Product (GDP) and private sector employment. These investors have recently been under fire in the media...
Persistent link: https://www.econbiz.de/10010730478
We examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50% of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a depreciation...
Persistent link: https://www.econbiz.de/10010730859
We introduce a Mixed-Frequency Factor Model (MFFM) to estimate vast dimensional covari- ance matrices of asset returns. The MFFM uses high-frequency (intraday) data to estimate factor (co)variances and idiosyncratic risk and low-frequency (daily) data to estimate the factor loadings. We propose...
Persistent link: https://www.econbiz.de/10010730865