We examine active retail mutual funds and institutional products with a mandate to invest ininternational equity markets between 1991 and 2009. Using global and regional factor models,we find no reliable evidence of alphas in the aggregate or on average. The right tail of thedistribution...

[...]One important theme, common to both views, is thatinvestment is a fundamental part of the growth process.Investment, moreover, may be defined broadly to include anyexpenditure that provides productive payoffs in the future;therefore, measures of human capital and research anddevelopment...

Der Beitrag stellt Ergebnisse des SOFI-Projektes "Organisation von Innovationsprozessen in der Halbleiterindustrie" vor, das im Rahmen des"Verbundes Sozialwissenschaftliche Technikforschung" vom Bundesministerium für Bildung und Forschung gefördert wurde. Das Projekt hat die Veränderung von...

This paper creates a guide to analyze and interpret FDI statistics.

This essay gives an overview of the special features of funding foreign subsidiaries. The central issue discussed ist the possibility of funding by equity capital or borrowed capital in the form of loans an trade accounts payable.

This paper analyses the evolution of the image of Western corporations asemployers in Japan since 1945. It shows how the changing perception of Westerncompanies in Japan has influenced their position in the Japanese labour market andtheir ability of successfully recruiting highly qualified...

We show the effects of entry of a domestic firm and a foreign firm on welfare, in presence of licensing. In case of licensing with up-front fixed-fee, domestic entry increases welfare if the technological differences between the firms are not very large, whereas foreign entry increases welfare...

In Literatur und Praxis hat sich die Bezeichnung Erfolgsbeteiligung als Oberbegriff für alle Beteiligungsformen durchgesetzt, bei deren die Mitarbeiter zusätzlich zu Lohn und Gehalt eine erfolgsabhängige Zuwendung erhalten. Erfolgsbeteiligungen sind zu unterscheiden von...