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The economic situation of first- and second-generation immigrants in France, Germany and the United Kingdom
Algan, Yann; Dustmann, Christian; Glitz, Albrecht; … - London School of Economics (LSE) - 2009
countries in terms of education, earnings, and employment. …
Persistent link: https://www.econbiz.de/10010744907
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A general approach to integrated risk management with skewed, fat-tailed risks
Rosenberg, Joshua V. (contributor);  … - 2004 - [Elektronische Ressource]
The goal of integrated risk management in a financial institution is to measure and manage risk and capital across a range of diverse business activities. This requires an approach for aggregating risk types (market, credit, and operational) whose distributional shapes vary considerably. In this...
Persistent link: https://www.econbiz.de/10002101503
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Reforming securities and derivatives trading in the EU: from EMIR to MiFIR
Ferrarini, Guido; Saguato, Paolo - London School of Economics (LSE) - 2013
The financial crisis has generated a deep revision of the regulation of securities and derivatives markets. In this paper, we critically examine the extent to which current reforms, such as the European Market Infrastructure Regulation and the proposed new Markets in Financial Instruments...
Persistent link: https://www.econbiz.de/10011126127
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Investment, R&D and financial constraints in Britain and Germany
Bond, Stephen; Harhoff, Dietmar; Van Reenen, John - London School of Economics (LSE) - 2003
This paper tests for the importance of cash flow on investment in fixed capital and R&D using firm-level panel data in two countries between 1985 and 1994. For German firms, cash flow is not informative in simple econometric models of fixed investment or R&D. In identical specifications for...
Persistent link: https://www.econbiz.de/10010884496
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Corporate R&D and productivity in Germany and the United Kingdom
Bond, Stephen; Harhoff, Dietmar; Van Reenen, John - London School of Economics (LSE) - 2003
This paper analyzes differences in R&D spending and in the impact of R&D on productivity between German and UK firms. We confirm that German firms spend significantly larger amounts on R&D than their UK counterparts, even after controlling for firm size and industry effects. Using a dynamic...
Persistent link: https://www.econbiz.de/10010745353
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The effect of credit rationing on the shape of the competition-innovation relationship
Bena, Jan - London School of Economics (LSE) - 2009
Using a dynamic model of a step-by-step innovation race between financially constrained firms, I study how financial constraints affect innovation activity. The novel theoretical results derive from an analysis of the interaction between the incentive effect of competition on innovation and the...
Persistent link: https://www.econbiz.de/10010745834
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Conglomerate entrenchment under optimal financial contracting
Faure-Grimaud, Antoine; Inderst, Roman - London School of Economics (LSE) - 2004
We provide a formal analysis of the notion that conglomerates are more ‘entrenched’ as they have ‘deeper pockets’. Using the financial contracting model of Bolton and Scharfstein (1990), we can isolate two effects that confirm this conjecture: the pooling of cash flows, which allows to...
Persistent link: https://www.econbiz.de/10010746348
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How does risk management influence production decisions? evidence from a field experiment
Cole, Shawn; Gine, Xavier; Vickery, James - Federal Reserve Bank of New York - 2014
Weather is a key source of income risk, particularly in emerging market economies. This paper uses a randomized controlled trial involving a sample of Indian farmers to study how an innovative rainfall insurance product affects production decisions. We find that insurance provision induces...
Persistent link: https://www.econbiz.de/10011027207
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Financial institutions and the wealth of nations: tales of development
Tong, Jian; Chenggang, Xu - London School of Economics (LSE) - 2004
Interactions between economic development and financial development are studied by looking at the roles of financial institutions in selecting R&D projects (including for both imitation and innovation). Financial development is regarded as the evolution of the financing regimes. The...
Persistent link: https://www.econbiz.de/10010928613
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The Emergence of Regional Policy in Bulgaria: regional problems, EU influences and domestic constraints
Monastiriotis, Vassilis - London School of Economics (LSE) - 2008
In most of the European transition economies regional policy is a relatively new phenomenon, given the absence of a … develop also in the transition period. This was in many respects due to the relative hysteresis of the transition process in … processes of transition and fast economic growth. Nevertheless (or, as a consequence), the emerging regional policy framework in …
Persistent link: https://www.econbiz.de/10005453828