Options are financial derivatives that, conditional on the price of an underlyingasset, constitute a right to transfer the ownership of this underlying. Morespecifically, a European call and put options give their owner the right to buyand sell, respectively, at a fixed strike price at a given...

The focus of the paper is on the remuneration of executives of large European banks. We describe the pay-for-performance sensitivity of the compensation and its disclosure as two dimensions of the board remuneration systems in the European countries.

Die derzeit durch Studien festgestellte Abnahme des Interesses gegenüber 'Mobile e-business' verwundert nicht angesichts der sehr eingeengten Diskussion, die auf Lösungen für Mobiltelefone und elektronische Organizer fokussiert ist. 'Mobile e-business' geht weit darüber hinaus und wird...

In this paper we investigate the potential of the analysis of noisy non-stationary time series by quantizing it into streams of discrete symbols and applying finite-memory symbolic predictors. The main argument is that careful quantization can reduce the noise in the time series to make model...

[...]This article examines the origins and early development ofthe Federal Reserve’s book-entry system—the system mostclosely associated with the elimination of definitive, orcertificated, Treasury securities. We suggest that the Fed’ssystem was the product of three important factors: the...

[...]In this article, we study the influence of market liquidity anddynamic trading strategies on the short-run dynamics of theyield curve. Specifically, we focus on the recent behavior ofintermediate-maturity interest rates for evidence of marketliquidity effects arising from the hedging of...

Der Erfolg eines Unternehmens und der Wohlstand einer Nation haben zahlreiche Ursachen. Ein wesentliches Erfolgsrezept deutscher Industrieunternehmen ist traditionell die technische Perfektion der Produkte und Verfahren, die technische Qualitätsführerschaft...

[...]This paper analyzes the current state of the educationsystem in the United States. In the course of the paper, Iwill try to point out where controversy exists, particularlyin academic discussions.[...]

[...]This paper investigates employment fluctuationsin the New York metropolitan area with the goal of understandingthe similarities and differences between theregion and the rest of the nation. The investigation has twoparts. The first part describes cyclical movements andlong-run shifts in...