This paper extends a model by Ehrhart et al (2008) which examines duopoly under the EU Emission Trading Scheme, analyzing the effectof emissions permit price changes on firm profits. While their model assumes no initial allocation of permits to firms, the extension presented here incorporates...

Using a sample of 1154 European firms from 11 countries, we show that firm-levelexchange exposure for Eurozone and non-Eurozone European firms has increased sincethe introduction of the euro, but this rise was smaller for Eurozone than non-Eurozonefirms. The increase in firm-specific exposure...

This book focuses on the stabilization and growth problems of Ireland, an archetypal peripheral member of the EC. In part I, a supply-side neo-Keynesian macro-econometric model is developed, which captures the stylised features of the economy: high dependence on multinational FDI; an open labour...

Eight small businesses in the electronics industry from Rochester, NY were studied inorder to determine whether the European Union’s directives, Waste Electrical andElectronic Equipment (WEEE) and Restriction of Hazardous Substances Directives(RoHS) are spurring innovation in the US....

Oil price shocks have a statistically significant impact on real stock returns contemporaneously and/or within the following month in the U.S. and 13 European countries over 1986:1-2005:12. Norway as an oil exporter shows a statistically significantly positive response of real stock returns to...

Extract: The study of emergent capital markets has become an established field of financial research today. In fact there are few research institutes dedicated to this task in the developed countries. This is only natural as the number of emerging capital markets has about doubled in the last...

ENGLISH ABSTRACT: The increase in globalisation and integration of world financial markets has seen a significantenhancement in the amount in foreign investments. This coupled with the downfall of theapartheid regime has given rise to an opportunity for companies to diversify their investment...

ENGLISH ABSTRACT: The objective of almost all firms should be to maximise the wealth of shareholders.To achieve this goal, firms should use an optimal combination of debt and equity,which will consequently result in the lowest weighted average cost of capital. Firmstherefore need to determine...

ENGLISH ABSTRACT: Tobin's q value is widely used by financial analysts as a performance indicator ratio. The market value of a firm over the replacement cost of fixed assets and inventory serves as an indication of whether value is created by investing internally in the firm, or whether value is...

For the last 40 years, academics advocated the use of the traditional Discounted CashFlow (DCF) techniques but these suggestions were ignored by practitioners for a longtime. The Net Present Value (NPV), Internal Rate of Return (IRR) and Present ValuePayback Period (PVPP) are now some of the...