Showing 1 - 10 of 101
A popular interpretation of the Rational Expectations/Efficient Markets hypothesis states that, if the hypothesis holds, then market valuations must follow a random walk. This postulate has frequently been criticized on the basis of empirical evidence. Yet the assertion itself incurs what we...
Persistent link: https://www.econbiz.de/10010956093
Based on criteria of mathematical simplicity and consistency with empirical market data, a stochastic volatility model is constructed, the volatility process being driven by fractional noise. Price return statistics and asymptotic behavior are derived from the model and compared with data....
Persistent link: https://www.econbiz.de/10005083402
Alan Greenspan's paper (March 2010) presents his retrospective view of the crisis. His theme has several parts. First, the housing price bubble, its subsequent collapse and the financial crisis were not predicted either by the market, the FED, the IMF or the regulators in the years leading to...
Persistent link: https://www.econbiz.de/10008543004
by boosting the incentives for technological innovation in start-up firms, potentially creating a self …
Persistent link: https://www.econbiz.de/10005566212
We use weekly survey data on short-term and medium-term sentiment of German investors in order to study the causal relationship between investors' mood and subsequent stock price changes. In contrast to extant literature for other countries, a tri-variate vector autoregression for short-run...
Persistent link: https://www.econbiz.de/10005755276
Since the year 2000, innovation and the path towards a “knowledge-based” economy have become prominent concepts in the … matter, very little is known about the ability to translate innovation into regional growth in territories with geographical … disadvantages. The present paper discusses the intensified emphasis of the European policy approach towards innovation and its …
Persistent link: https://www.econbiz.de/10010886830
investigates the link between outsourcing and innovation empirically using firm-level data for over 20 emerging market economies …
Persistent link: https://www.econbiz.de/10010886993
much of the cumulative innovation literature. When the research abilities of the firms differ, either the high ability firm …
Persistent link: https://www.econbiz.de/10005083363
estimation based on UK firm level data from 1998 to 2002 shows that exporters are 7.5 percent more likely to denote their … innovation as having a ‘high’ or ‘very high’ environmental effect. Our findings also show that exporters are 17.5 percent more … likely, all things equal, to report that their firm’s innovation cuts the cost of energy/ materials. Our results agree with …
Persistent link: https://www.econbiz.de/10005700566
outsourcing, profits and innovation using plant level data. We find a positive effect of international outsourcing of services on … activities towards innovation. We also find that international outsourcing has a positive effect on profitability, as predicted …
Persistent link: https://www.econbiz.de/10005700629