The four risk factors controlling for the market, size, value, and momentum effect have become a state-of-the-art framework for various applications in financial markets research. However, previous work shows that these broadly recognized risk factors are country-specific. For these reasons,...

Using a Switzerland-specific Carhart model, we study the risk-adjusted performance of actively and passively managed mutual funds investing in Swiss stocks from 1989 to 2007. We also compare the performance of actively managed funds to passively managed funds instead of comparing them to a...

The paper tries to put forward a hypothesis for the changing fortunes of old industrial areas. A regionalized version of the product cycle hypothesis is used as a link for various aspects of the lost dynamics of this type of region, as interpreted by different models of regional growth. It...

Strategic partnering has become a common place when introducing innovations to systems markets. In standards battles, network affiliation has been used as a market signal to create confidence in a format's success. This paper's authors thus develop and test a model aimed at finding the right...