The legal environment is one important determinant of corporate governance. However,  within  legal families,  also cultural  differences can explain the level of corporate governance to some extent. We analyze this relationship for the case of Switzerland.  Swiss firms  are mainly located...

The traditional methodology examining optimal boards relates a simple board variable  (e.g., independence or board demography) to firm performance, however, ig- noring other board characteristics.  This paper investigates how the education and business  experience of directors affect firm ...

Regulators and shareholders are calling for independent directors. Independent directors, however, have numerous external professional commitments. Using  To- bin’s Q as an approximation  of market valuation and controlling for endogeneity, our empirical analysis reveals that neither...

The classical square-root formula for optimal lot size is a useful tool especially for those manufacturing processes in which labor intensive items are produced in small quantities. There is a class of stationary lot sizing problems to which this formula applies. With learning effects introduced...

In order to explain equity returns, the single index model (which corresponds to the CAPM) was extended in various ways to multi-factor models. Following Chen/ Roll/Ross, macroeconomic variables are the favorites for the additional factors. Fama/French (1993–1998) use the return of specially...

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