In the field of risk management, scholars began to bring together the quantitative methodologies with the banking management issues about 30 years ago, with a special focus on market, credit and operational risks. After the systemic eff ects of banks defaults during the recent fi nancial crisis,...

At the intersection between statistical physics and rigorous econometric analysis, this powerful new framework sheds light on how innovation and competition shape the growth and decline of companies and industries. Analyzing various sources of data including a unique micro level database which...

An explosion of knowledge and a growing array of tools and technologies have transformed modern drug Ramp;D, while its cost has risen by a sizable amount. At the same time, the unchecked increase in health care and prescription drug spending has spawned cost containment policies that are...

We introduce a model of proportional growth to explain the distribution Pg(g) of business-firm growth rates. The model predicts that Pg(g) is exponential in the central part and depicts an asymptotic power-law behavior in the tails with an exponent z=3. Because of data limitations, previous...

This paper shows how specific technological and relational regimes have shaped the growth of the network of R&D collaborative agreements in pharmaceuticals in the 1990s. Our analysis reveals the existence of a complex set of regimes of firm growth within the network, providing additional...