This paper proposes a discrete dynamic programming model to maintain pension contribution in a stable level. By assuming an intertemporal stable contribution rate, we derive an algorithm to calculate the optimal contribution that requires less exogenous information and produces more stable...

Purpose This study aims to determine the relationship between the banking industry and home financing by conducting a regression analysis between the mortgage loan interest rates and the number of housing sales, and based on the results of the analysis, this paper proposes a new and alternative...

Purpose – The purpose of this paper is to propose joint stock company with variable capital (JSCVC), as financial sharing funds and banks necessitate that their capital and number of shareholders be instantaneously variable. Legal personality and accounts clearing of this type of corporations...

Purpose – The purpose of this paper is to provide a better understanding of the performance implications for UK DC pension fund investors who choose to combine global listed and UK unlisted real estate in a blended allocation relative to a pure unlisted solution. Design/methodology/approach...

Summary In 1997, the German government enacted a reform of the unemployment insurance system which lead to a reduction of the maximum entitlement length for unemployment benefits of the older unemployed in the subsequent years. This paper analyses the effects of this reform on the risk of...

Purpose – This paper investigates whether the effect of unemployment benefits (UB) on unemployment duration is the same for individuals belonging to different wealth groups. Design/methodology/approach – Using a sample of newly unemployed individuals from Italy in 2007, we perform...

Customer project selection is a challenge for many industrial companies. An inappropriate project selection approach can lead to constraint violations, high fixed costs, and suboptimal portfolios. To overcome these problems a cash-flow-based linear optimization model was developed in partnership...

Abstract This paper is concerned with a procedure for financial time series clustering, aimed at creating groups of time series characterized by similar behavior with regard to extreme events. The core of our proposal is a double clustering procedure: the former is based on the lower tail...

Purpose This study aims to investigate the association between Muslim individuals’ portfolio allocation choice and Islamic religiosity (levels and dimensions), controlling for risk tolerance and sociodemographic factors. Design/methodology/approach The study uses primary data collected via...

Purpose – In today's societies, work environment and customers' expectations change on a daily manner. Consequently, it is crucial for companies to find a way for adapting themselves to new requirements. For this purpose, reengineering projects have been introduced and evolved in different...