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Although there is a host of literature on the locational choice of traditional economy firms, relatively little is known about the locational needs and preferences of new economy firms. Therefore, the current paper provides an empirical analysis of the factors determining the regional...
Persistent link: https://www.econbiz.de/10010265411
Using dynamic panel estimations, this paper identifies driving forces of venture capital activity for Western European countries. Driving forces might be the liquidity of stock markets, human capital endowment, and labour market rigidities. The paper shows that these factors do not affect...
Persistent link: https://www.econbiz.de/10010260433
This paper analyses the link between venture capitalists' sources of funds, such as banks and pension funds, and the specialization pattern of venture capital investments in particular industries and particular stages of enterprises' development. Based on a panel data set of Western European...
Persistent link: https://www.econbiz.de/10010260480
We examine the performance of volatility models that incorporate features such as long (short) memory, regime-switching and multifractality along with two competing distributional assumptions of the error component, i.e. Normal vs Student-t. Our precise contribution is twofold. First, we...
Persistent link: https://www.econbiz.de/10010265243
We compare changes in schooling output and in schooling input of six East Asian countries to derive a measure of productivity change. Our results question the impression that all is well with education in East Asia. First, we find that the cognitive achievement of pupils did not change...
Persistent link: https://www.econbiz.de/10010265436
and Japan than in the United States. Employment contributes the largest proportion of the cycle in Europe and the United … States (but not Japan), which is inconsistent with the idea that higher levels of employment protection in Europe dampen …
Persistent link: https://www.econbiz.de/10010274432
conducted by the Bank of Japan (BoJ) between January 1995 and December 1999. We find that the reports of interventions in the …
Persistent link: https://www.econbiz.de/10010260509
East Asian students regularly take top positions in international league tables of educational performance. Using internationally comparable student-level data, I estimate how family background and schooling policies affect student performance in five high-performing East Asian economies. Family...
Persistent link: https://www.econbiz.de/10010260554
This paper studies why multinational firms often share ownership of a foreign affiliate with a local partner even in the absence of government restrictions on ownership. We show that shared ownership may arise, if (i) the partner owns assets that are potentially important for the investment...
Persistent link: https://www.econbiz.de/10010260614
A contingent claims valuation model which allows to highlight the implications of program trading in spot markets for the pricing of European-style foreign currency options and for the volatility strike structure implicit in these contracts is devoloped. The curvature of the volatility strike...
Persistent link: https://www.econbiz.de/10010260624