In this paper, the role of the Internet as an instrument for investor relations activities is described and discussed in the context of traditional instruments of investor relations. We show the potential application of the World Wide Web as a communication tool, especially with regard to...

We analyze the treatment and impact of idiosyncratic or firm-specific risk in regulation. Regulatory authorities regularly ignore firm-specific characteristics, such as size or asset ages, implying different risk exposure in incentive regulation. In contrast, it is common to apply only a single...

This paper presents a theoretical and empirical analysis of liquidity in the German intraday market for electricity. Two models that aim at explaining intraday liquidity are developed. The first model considers the fundamental merit-order and intraday adjustment needs as the drivers of liquidity...

There is still some doubt about those economic variables that really matter for the FED’s decisions. In comparison to other estimations, this study uses the approach of Bayesian Model Averaging (BMA). The estimations show that over the long run in?ation, unemployment rates, and long-term...

We analyse quantitatively how risk exposure from different support mechanisms, such as feed-in tariffs and premiums, can influence the investment incentives for private investors. We develop a net cash flow approach that takes systematic and unsystematic risks into account through cost of...

Germany runs large current account surpluses. Recently the surplus has been higher than seven per cent of GDP. This has provoked many different criticisms. First, some argue that the euro is the main problem. Second, German wages and prices have been criticised for being too low. Third,...