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Technology, competition and the time of entry: Diversification patterns in the development of new drugs
Plotnikova, Tatiana - 2009
This paper empirically investigates the determinants of R&D diversification strategies in the drug industry. It … enriches the existing literature by proposing to look at diversification factors, which reflect market and technological …&D diversification is governed by the economies of scope as well as the escape competition motive. Moreover, it is found that competition …
Persistent link: https://www.econbiz.de/10010267114
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Do banks diversify loan portfolios? A tentative answer based on individual bank loan portfolios
Kamp, Andreas; Pfingsten, Andreas; Porath, Daniel - 2005
this end we measure diversification for all German banks in the period from 1993 to 2002. As measures we use a broad set of … naive diversification across all industries or, alternatively, the economy's industry structure. With this framework our … in this context innovative group of distance measures. We find that different statistical measures of diversification may …
Persistent link: https://www.econbiz.de/10010295896
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Does diversification improve the performance of German banks? Evidence from individual bank loan portfolios
von Westernhagen, Natalja; Porath, Daniel; Hayden, Evelyn - 2006
Should banks be diversified or focused? Does diversification indeed lead to enhanced performance and, therefore … banks? profitability (ROA) and their portfolio diversification across different industries, broader economic sectors and … performance benefits associated with diversification since each type of diversification tends to reduce the banks? returns …
Persistent link: https://www.econbiz.de/10010295912
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The determinants of occupational pensions
Hernæs, Erik; Piggott, John; Zhang, Tao; Strøm, Steinar - 2006
The decision by firms to offer an occupational pension is investigated with a unique linked employer-employee dataset, supplemented with detailed actuarial calculations of the cost to the firms of offering occupational pensions and constructed tax gains from pension contributions versus cash...
Persistent link: https://www.econbiz.de/10010284312
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Multiple information search and employee participation in occupational pension plans
Johansen, Kathrin - 2010
Multiple searches for information can increase individual participation in occupational pension programs. This paper tests hypotheses derived from transaction cost theory and search theory to explain the formation of information networks on pensions. Using a dataset representative of the German...
Persistent link: https://www.econbiz.de/10010319266
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Determinants of occupational pension provision in Germany
Dummann, Kathrin - 2007
Demographic change causes an undersupply of financial old age benefits within the statutory pay-as-you-go pension system in Germany. Therefore, the provision of occupational as well as private pensions has to be enhanced. However, there seems to be an undersupply of occupational pension...
Persistent link: https://www.econbiz.de/10010319277
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Deferred-Compensation-Modelle: Ersatz für eine konventionelle betriebliche Altersversorgung nach dem Betriebsrentengesetz?
Dommermuth, Thomas; Schiller, Thomas - 2018
In Zeiten von wirtschaftlichen Hochphasen wird das Angebot an qualifizierten Mitarbeiter zunehmend knapp und der Wettbewerb um die Ressource Arbeitnehmer immer ausgeprägter. Im Rahmen des Aufsatzes sollte daher die Frage geklärt werden, ob Deferred-Compensation-Modelle einen Ersatz für eine...
Persistent link: https://www.econbiz.de/10011913334
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Optimal asset allocation with factor models for large portfolios
Pesaran, Mohammad Hashem; Zaffaroni, Paolo - 2008
This paper characterizes the asymptotic behaviour, as the number of assets gets arbitrarily large, of the portfolio weights for the class of tangency portfolios belonging to the Markowitz paradigm. It is assumed that the joint distribution of asset returns is characterized by a general factor...
Persistent link: https://www.econbiz.de/10010276224
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Down or out: Assessing the welfare costs of household investment mistakes
Calvet, Laurent E.; Campbell, John Y.; Sodini, Paolo - 2006
that while a few households are very poorly diversified, the cost of diversification mistakes is quite modest for most of …
Persistent link: https://www.econbiz.de/10010320762
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Strategische Asset-Allokation aus Sicht des privaten Kapitalanlegers
Walther, Ursula - 2002
Die strategische Asset Allokation ist die für den langfristigen Anlageerfolg wichtigste Entscheidung eines Kapitalanlegers. Eine fundierte Entscheidung erfordert einen mehrstufigen, strukturierten Prozess. Der Anleger muss sich mit den realistischen Chancen des Kapitalmarktes und mit seinen...
Persistent link: https://www.econbiz.de/10010305678