We estimate the Dollar exposure of German DAX corporations. Our results are based on a new time-variant, APT-based and panel econometric extension of the exchange-rate exposure model in the tradition of Adler and Dumas (1984) and Jorion (1990). Our stock market data consist of 28 performance...

The purpose of this article is to evaluate the importance of social class, migration background and command of national languages for the PISA school performance of teenagers living in European countries (France, Finland, Germany, United Kingdom, and Sweden) and traditional countries of...

This article analyses value changes of German stock market companies in response to movements of the US dollar. The approach followed in this work extends the standard means of measuring exchange rate exposure in several ways (e.g. by using multi-factor modelling instead of augmented CAPM,...

The rising trends both in drug addiction and crime rates are of major public concern in Germany. Surprisingly, the economic theory of crime seems to ignore the drugs-crime nexus, whereas the criminological literature considers illicit drug use a main reason of criminal activities. This paper...

We estimate the impact of dollar changes on the value of German DAX corporations, using APT-modelling for the period 1977 - 1995. Several macroeconomic risk factors, including the dollar and a residual market factor representing the general market risk, are specified. The general notion is that...

Der Artikel beschreibt die Bedeutung nationaler Einwanderungskriterien für die Zusammensetzung nationaler Stichproben am PISA-2000-Test und analysiert das entsprechende Zustandekommen der internationalen PISA-Ergebnisse. Die Rollen der für das Leseergebnis von Migranten zentralen...

In der vorliegenden Arbeit wird die Reaktion des DAX auf makroökonomischen Konjunkturmeldungen in Form von Veröffentlichungen des ZEWFinanzmarkttests untersucht. Zur Messung der Reaktion stehen die 15-Sekunden-Intraday- Realisationen des XDAX zur Verfügung. Die mittels Vergleich von...

Following the well-known approach by Adler and Dumas (1984) we evaluate the foreign exchange rate exposure of nations. Results based on data from 27 countries show that national foreign exchange rate exposures are significantly related to the current balance variables of corresponding economies.