Veröffentlichungen zu den Themen: Umweltproduktivität, Umweltnutzung der privaten Haushalte, Material- und Energieflüsse, Flächennutzung, Umweltschutzmaßnahmen, Verkehr und Umwelt, Landwirtschaft und Umwelt, Waldgesamtrechnung, UGR und Nachhaltigkeit.

Zielsetzung der vorliegenden Untersuchung ist die Entwicklung und Umsetzung einer Methodik zum systematischen Vergleich der Gesamtperformance (Totalrendite) von Lebensversicherungsprodukten (hier primär: Kapitallebensversicherung) auf der einen Seite und Investmentprodukten (Aktien-, Renten-...

While the relationship between volatility and risk is central to much of thefinancial literature it has not been incorporated systematically into assessment ofsovereign debt sustainability. This paper attempts to fill this gap by studying how the probability distribution of sovereign debt to GDP...

This paper presents a theoretical study of how incentives affect hedge fund risk and returns and an empirical study of the performance of a large group of operating hedge funds. Most hedge fund managers receive a flat fee plus a share of the returns above a certain benchmark. We investigate how...

Two different probability measures are of importance when calculating the risk of a large portfolio: the risk-neutral measure for pricing, and the real measure to project true earnings. When using Monte Carlo, the natural method is to conduct two different simulations, one in each probability...

In this study we analyze the performance persistence of hedge funds over different time horizons. Using a non-parametric test, we first observe that the relative value and the specialist credit strategies contain the highest proportion of outperforming mangers. Furthermore, there is no evidence...

Cummins et al. (1994) provide a conceptual framework for policymakers to use in analyzing risk-based capital systems. Based on their framework, this article provides an overview and critical analysis of risk-based capital requirements, with a focus on property/casualty insurance, as implemented...

PRIVATISATION AND THE USE OF PUBLIC PRIVATE PARTNERSHIPS(PPP) MODELS IN THE PROVISION OF ROAD AND HIGHWAYINFRASTRUCTURE HAS CONTINUOUSLY GAINED IN IMPORTANCEWORLDWIDE AND IN PARTICULAR IN EUROPE DURING THE LASTYEARS. TRADITIONALLY CONSIDERED AS A TYPICAL PUBLIC DOMAIN,MORE AND MORE OF THE TASKS...

Analysis of investment decisions under uncertainty does not provide a general analytical description ofinvestor reactions towards profit tax rate changes. We use a real option model and find distorting taxtreatment of risk-free and risky investment. We analytically identify general paradoxical...

Empirical evidence from the UK market is brought to bear on recent theories of closed-endfund discounts. Market pricing of skill, relative to the fees charged for it, accounts for asignificant portion of discount variation, but cannot explain the rarity of index funds orwhy they trade at a...