This era of globalisation is characterized by an ongoing international fragmentation of production where the supply chain is split up in more and more parts. The traditional Ricardian theory of trade in products governed by comparative advantages is replaced by a modern theory of trade in tasks....

This discussion paper resulted in a publication in 'Emerging Markets Review', 2005, 6, 238-262.<P> See also the publication in the 'Journal of Empirical Finance', 2003, 10, 1-5=132.<P> Recent empirical evidence suggests that value and momentum strategies generate significantexcess returns in emerging...</p></p>

In this paper we study international river pollution problems. We introduce a model in which the agents (countries) located along a river derive benefit while causing pollution, but also incur environmental costs of experiencing pollution from all upstream agents. We find that total pollution in...

We document a consistent and robust relation between expected equity premia and common risk factors constructed on the basis of small stocks. Empirically, we show that (i) small-stock components of traditional value and momentum factors capture patterns in returns on regional and global...

A Forecast Support System (FSS), which generates sales forecasts, is a sophisticated business analytical tool that can help to improve targeted business decisions. Many companies use such a tool, although at the same time they may allow managers to quote their own forecasts. These sales...

In this era of globalisation the traditional Ricardian theory of trade in products governed by comparative advantages is replaced by a modern theory of trade in tasks. Tasks are outsourced to those places in the world where the lower production costs outweigh the additional transaction costs...

This discussion paper resulted in an article in the <I>Annals of Regional Science</I> (2012). Volume 48, issue 2(SI), pages 501-527.<P> This paper addresses the performance of creative firms from the perspective of complex spatial systems. Based on an extensive high-dimensional database on both the...</p></i>

Organizational theory has construed complexity as an objective characteristic of either the structure or the behaviour of an organization. We argue that to further our understanding it should be understood in terms of human cognition of a structure or behavior. This cognitive twist is...

This paper examines the relationship between organization contextual variables and humanresource management (HRM) practices in small firms. The proposed model is based on anintegration of theoretical perspectives, including the resource-based approach, institutionaltheory, transaction cost...

We manipulate workers' perceived meaning of a job in a field experiment. Half of the workers are informed that their job is important, the other half are told that their job is of no relevance. Results show that workers exert more effort when meaning is high, corroborating previous findings on...