Firms invest heavily in customer capital, and such investment is a main source of intangible capital value. This study … measures investment in customer capital using sales and marketing expense from income statements, information on salaries paid …. Firms emphasize brand value, sales force, customer service, advertising, and the acquisition and use of customer data as …

markets, which require firms to spend resources on customer acquisition, this paper develops a search theoretic model of firm … dynamics in frictional product markets. Introducing search frictions generates long-term customer relationships, rendering the … customer base a state variable for firms, which is sluggish to adjust. This affects: the level and volatility of firm …

in interest rates would have led to liquidity needs close to the cash holdings of the pension fund and insurance sector …

the seemingly failure of the private insurance market to provide coverage for terrorism losses after the attack on … government provision of terrorism insurance. The paper argues that mostly unfettered insurance and capital markets are capable of …

This paper examines the role that insurance has played in dealing with terrorism before and after September 11, 2001 …, by focusing on the distinctive challenges associated with terrorism as a catastrophic risk. The Terrorism Risk Insurance … Act of 2002 (TRIA) was passed by the U.S. Congress in November 2002, establishing a national terrorism insurance program …