We develop an evolutionary algorithm to estimate Threshold Vector Error Correction models (TVECM) with more than two cointegrated variables. Since disregarding a threshold in cointegration models renders standard approaches to the estimation of the cointegration vectors inefficient, TVECM...

An Destinationsmanagementorganisationen (DMO) werden verstärkt Fragen zu Kosten-Nutzen-Relationen und Forderungen nach Legitimationsbelegen sowie Effektivitäts- und Effizienznachweisen des Mitteleinsatzes herangetragen. Dies hat auf Seiten der DMO und der Tourismuspolitik zu einer höheren...

The present paper sheds light on how growth of young firms is affected by expansive strategies and the socioeconomic heritage of their main actors. Socioeconomic heritage has to do with socialization, prior socioeconomic circumstances, and regional growth conditions; the term is elaborated upon...

We conduct a randomized experiment in Sri Lanka to measure the impact of the most commonly used business training course in developing countries, the Start-and-Improve Your Business (SIYB) program. In contrast to existing business training evaluations which are restricted to microfinance...

Die Gründungsstatistik des IfM Bonn enthielt bisher keine Angaben zu nichtgewerblichen Gründungen, darunter insbesondere freiberufliche. Zur Ermittlung einer alle Wirtschaftsbereiche umfassenden Gründungszahl wurden erstmals in 15 Bundesländern Angaben zu steuerlichen Anmeldungen bei den...

In order to shed light on the "black box" of institutional equity investing in a systematic manner, I conducted a broadly based questionnaire which received a large response from German mutual fund companies. The survey asked fund managers for their basic views and practices and for insights...