This paper exploits a quasi-experimental setting to estimate the impact that a multi-dimensional group incentive scheme had on branch performance in a large distribution firm. The scheme, which is based on the Balanced Scorecard, was implemented in all branches in one division, but not in...

The change in the business model of venture capitalists from investing locally towards investing across borders started to intensify in the late 1990s. According to a dataset of European and North-American countries, we find that countries with higher expected growth and higher lagged stock...

Die zunehmende Kommerzialisierung des Sports lenkt die Aufmerksamkeit darauf, wie effizient Sportvereine mit ihren Ressourcen umgehen. Im Mannschaftssport gibt es verschiedene Organisationsformen der Ligen: das europäische Relegationssystem und das amerikanische Franchisesystem. Welches der...

This paper constructs a general equilibrium overlapping generation model to evaluate quantitatively how demographic transition (falling mortality and fertility rates) affects aggregate variables (wages, interest rate, output), and inter-generational welfare in closed and open economies. We...