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A Triptych Inquiry: Rethinking Sustainability, Innovation, and Financial Performance

Busch, Timo; Stinchfield, Bryan T.; Wood, Matthew S. - Tinbergen Institute - 2011

Management scholars have sought to answer the question: is there a financial payoff for ad-dressing ecological and social issues? We move beyond this question and include a time com-ponent for corporate financial performance (CFP) and a firm’s innovativeness in order to ask: when does it pay?...

Persistent link: https://www.econbiz.de/10008838575

Micro-Evidence on the Determinants of Innovation in The Netherlands: The Relative Importance of Absorptive Capacity and Agglomeration Externalities

Smit, Martijn J.; Abreu, Maria A.; Groot, Henri L.F. de - Tinbergen Institute - 2010

This paper employs firm-level data to analyze the relative importance of firm characteristics and agglomeration externalities in explaining variation in innovation rates across firms. More specifically, we combine micro-data and census data to estimate the probability that a firm will introduce...

Persistent link: https://www.econbiz.de/10008838651

Collective Bargaining under Non-binding Contracts

Dobbelaere, Sabien; Luttens, Roland Iwan - Tinbergen Institute - 2011

We introduce collective bargaining in a static framework where the firm and its risk-neutral employees negotiate over wages in a non-binding contract setting. Our main result is the equivalence between the non-binding collective equilibrium wage-employment contract and the equilibrium contract...

Persistent link: https://www.econbiz.de/10008867502

Intention-Based Reciprocity and the Hidden Costs of Control

Siemens, Ferdinand von - Tinbergen Institute - 2011

Empirical research suggests that - rather than improving incentives - exerting control can reduce workers' performance by eroding motivation. The present paper shows that intention-based reciprocity can cause such motivational crowding-out if individuals differ in their propensity for...

Persistent link: https://www.econbiz.de/10009201127

Organization Context and Human Resource Management in the Small Firm

Kok, Jan de; Uhlaner, Lorraine M. - Tinbergen Institute - 2001

-based approach, institutional theory, transaction cost economics (TCE), and concepts from strategic management. The model is explored …

Persistent link: https://www.econbiz.de/10005136951

Understanding Contract Audits: An Experimental Approach

Bertrand, Robert M.M.; Schram, Arthur J.H.C.; Vaassen, … - Tinbergen Institute - 2011

such as defense procurement. This contradicts predictions from standard economic theory. We conduct a laboratory experiment … literatures. The theory of planned behaviour explains why organizations may engage in contract auditing even when markets are … imperfect. Social preference theory explains why traders may adjust prices when a contract audit indicates that the original …

Persistent link: https://www.econbiz.de/10008838562

More Hedging Instruments may destablize Markets

Brock, William; Hommes, Cars; Wagener, Florian - Tinbergen Institute - 2006

This paper formalizes the idea that more hedging instruments may destabilize markets when traders are heterogeneous and adapt their behavior according to experience based reinforcement learning. We investigate three different economic settings, a simple mean-variance asset pricing model, a...

Persistent link: https://www.econbiz.de/10005795568

Complex Evolutionary Systems in Behavioral Finance

Hommes, Cars; Wagener, Florian - Tinbergen Institute - 2008

Traditional finance is built on the rationality paradigm. This chapter discusses simple models from an alternative approach in which financial markets are viewed as complex evolutionary systems. Agents are boundedly rational and base their investment decisions upon market forecasting heuristics....

Persistent link: https://www.econbiz.de/10005795577

Consistent Estimation of Structural Parameters in Regression Models with Adaptive Learning

Christopeit, Norbert; Massmann, Michael - Tinbergen Institute - 2010

In this paper we consider regression models with forecast feedback. Agents' expectations are formed via the recursive estimation of the parameters in an auxiliary model. The learning scheme employed by the agents belongs to the class of stochastic approximation algorithms whose gain sequence is...

Persistent link: https://www.econbiz.de/10008484069

Heterogeneous Agent Models: Two Simple Case Studies

Hommes, Cars - Tinbergen Institute - 2005

These notes review two simple heterogeneous agent models in economics and finance. The first is a cobweb model with rational versus naive agents introduced in Brock and Hommes (1997). The second is an asset pricing model with fundamentalists versus technical traders introduced in Brock and...

Persistent link: https://www.econbiz.de/10005450745