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The British foreign exchange reserves decreased by 40 percent during the period August 1996-December 1999 although the Pound Sterling is considered a floating exchange rate since it left the EMS in 1992. Since changes in the level of foreign exchange reserves are usually taken as indicators for...
Persistent link: https://www.econbiz.de/10005098366
We document using the ZEW panel of German stock market forecasters that weak forecasters tend to be overconfident in the sense that they provide extreme forecasts and their confidence intervals are less likely to contain eventual realizations. Moderate filters based on forecast accuracy over...
Persistent link: https://www.econbiz.de/10011269118
According to the prospect theory financial investors tend to sell winners too early and ride losers too long. Therefore, demand for financial advise should be high in a bull market and low in a bear market. Thus, we test the hypothesis whether the demand for business magazines is somehow related...
Persistent link: https://www.econbiz.de/10005098055
whether this type of behavior persists when risk comes into play. I devise an experiment which sheds light on the … interrelation of risk and social preferences by measuring (1) individual risk preferences, (2) interpersonal risk preferences, and … (3) social preferences under certainty. The results reveal that a large share of subjects choose to accept more risk or …
Persistent link: https://www.econbiz.de/10008500715
the cross-section. The results show that SRI stock indexes do not exhibit a different risk-adjusted return than … conventional benchmarks. But many SRI indexes have a higher risk relative to the benchmarks. These findings are robust to the use …
Persistent link: https://www.econbiz.de/10005098046
China or Japan, has no predictable effect on its trade surplus. Currency appreciation by the creditor country will slow its …-growth and low-growth economies, as between Japan and the U.S. from in 1950 to 1971 and China and the U.S. from 1994 to 2005 …
Persistent link: https://www.econbiz.de/10005097704
experience of Japan. Exchange rate appreciation, or the threat of it, causes macroeconomic distress without having any …
Persistent link: https://www.econbiz.de/10005098313
This paper studies the impact of the adoption of ICT on the economic performance at the firm level, considering explicitly the interaction of adopting firms within the intermediate input market in Germany. The paper identifies and quantifies the importance of adoption externalities and knowledge...
Persistent link: https://www.econbiz.de/10010957582
We analyze the effects of captive off-shoring of innovation activities on the firms' ability to adapt their … Community Innovation Survey to test our hypotheses. We find an inverted u-shape of innovation off-shoring on the effectiveness … of organizational adaptability, implying an optimal threshold value of innovation off-shoring. This value is 11% for …
Persistent link: https://www.econbiz.de/10010957583
Trademarks are often supposed to reduce substitutability and imitability of product innovations. Using German CIS data for 2010, we provide empirical evidence that trademarking firms assess easy product substitutability as less characteristic for their competitive environment. This is...
Persistent link: https://www.econbiz.de/10010957593