The papers analyses regional differences in EU referenda results in Estonia, Latvia, and Lithuania. In each of the three countries, other things being equal, high income regions were significantly more pro-European than low-income ones, while regions with a high share of ethnic minorities were...

The aim of this paper is to outline differences in the socio-demographic and employment characteristics of Estonian people who have worked in a neighbouring country ? Finland, Sweden, Latvia or Russia. The empirical part of this paper relies on data from CV Keskus ? an online employment portal...

In this paper, it will be discussed about economic development of former Yugoslav countries before and after the war (1990-1995) in those countries. Before the war, Socialist Federal Republic Yugoslavia has performed well until death (1980) of Yugoslavian leader Tito. The peak of living standard...

This study analyzes the trading activity of institutional investors on German Stock Exchanges to evaluate herding behavior and its determinants. The paper uses a unique and superior high-frequent investor-level database that directly identifies every transaction of banks and financial service...

This paper sheds new light on the impact of information risk and market stress on herding of institutional traders from both, a theoretical and an empirical perspective. Using numerical simulations of a herd model, we show that buy and sell herding intensity should increase with information...

Credit rating agencies are frequently criticized for producing sovereign ratings that do not accurately reflect the economic and political fundamentals of rated countries. This article discusses how the home country of rating agencies could affect rating decisions as a result of political...

In this paper we measure knowledge spillovers arising from venture-capital nanced companies on the patenting activities of other companies and com- pare them to spillovers from established rms. We develop a novel measure to to identify the appropriate spillover pool based on backward citations...

This paper analyzes innovation races in a moral hazard setting. I develop a model where two competing entrepreneurs, financed by a single venture capitalist, work independently on the same project. The venture capitalist cannot observe the allocation of funds she provides, which creates a moral...

In this paper, we explore the institutional investors' assessment of relative creditworthiness across selected country groups with a special focus on the impact of public debt on the perception of sovereign risk. Our results show that general government debt is among the most important...