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We consider the current bipartite graph of German corporate boards and identify a small core of directors who are highly central in the entire network while being densely connected among themselves. To identify the core, we compare the actual number of board memberships to a random benchmark,...
Persistent link: https://www.econbiz.de/10010270766
This work describes the legal structuring of a mortgage covered bond in accordance with the regulations of paragraphs … rights of the bond holders according to the regulations of the German Statue Governing Common Rights of Owners of Debt … Securities (Schuldverschreibungsgesetz). Furthermore, the work describes how the bond creditors shall have preferences of the …
Persistent link: https://www.econbiz.de/10010298959
. Nonetheless, the average CDS-bond basis (i.e. the difference between both measures) is positive in the period 2004-2005. We detect …
Persistent link: https://www.econbiz.de/10011506625
The naming of eleven banks as “too big to fail (TBTF)” in 1984 led bond raters to raise their ratings on new bond … issues of TBTF banks about a notch relative to those of other, unnamed banks. The relationship between bond spreads and …
Persistent link: https://www.econbiz.de/10010283484
Scientific progress is driven by innovation ?which serves to produce a diversity of ideas ?and imitation through a social network ?which serves to diffuse these ideas. In this paper, we develop an agent-based computational model of this process, in which the agents in the population are...
Persistent link: https://www.econbiz.de/10010293512
While interest in social determinants of individual behavior has led to a rich theoretical literature and many efforts to measure these influences, a mature social econometrics has yet to emerge. This chapter provides a critical overview of the identification of social interactions. We consider...
Persistent link: https://www.econbiz.de/10010294048
China's energy-service companies (ESCOs) have developed only modestly despite favorable political and market conditions. We argue that with sophisticated market institutions still evolving in China, trust-based relations between ESCOs and energy customers are essential for successful...
Persistent link: https://www.econbiz.de/10010305889
This paper models the dynamic process through which a large society may succeed in building up its "social capital" by establishing a stable and dense pattern of interaction among its members. In the model, agents interact according to a collection of infinitely repeated Prisoner's Dilemmas...
Persistent link: https://www.econbiz.de/10011325082
Empirical studies of labor markets show that social contacts are an important source of job-related information [Ioannides and Loury (2004)]. At the same time, wage differences among workers may be explained only in part by differences in individual background characteristics. Such findings...
Persistent link: https://www.econbiz.de/10010325588
This paper proposes a new measure for a group's ability to lead society to adopt their standard of behavior, which in particular takes account of the time the group takes to convince the whole society to adopt their position. This notion of a group's power to initiate action is computed as the...
Persistent link: https://www.econbiz.de/10010326525