The often reported empirical success of trend-following technical timing strategies remains to be puzzling. In previous academic research, many authors admit some prediction power but struggle to substantiate their findings by referring vaguely to insufficient market effciency or unknown hidden...

This work extends the contagion model introduced by Nier et al. (2007) to inhomogeneous networks. We preserve the convenient description of a financial system by a sparsely parameterized random graph but add several relevant inhomogeneities, namely well-connected banks, financial institutions...

"Banken, Finanzierung und Unternehmensführung" sind die Themen, die im Zentrum des wissenschaftlichen Interesses und Werkes von Professor Dr. Karl Lohmann stehen. Ihm ist dieser Band als Festschrift zu seinem 65. Geburtstag gewidmet. Karl Lohmann studierte zunächst Mathematik, Physik und...

External finance is considered to devide into equity and debt finance. The criteria established to distinguish the two classes allow a useful description of financing instruments. The legal status of the financier when the company becomes insolvent is an arbitrary criterion and not appropriate...

The deposit insurance reform presently under discussion in Belarus aims at attracting more private savers’ funds into the governmental directed economy. But the establishment of a deposit insurance system that does not precisely fit the country’s specific situation is prone to moral hazard...