We investigate the implications of variations in the frequency with which hedge fund managers update their high-water mark on fees paid by investors. We rst doc- ument the crystallization frequencies used by Commodity Trading Advisors (CTAs) and then perform simulations and a bootstrap analysis....

Most countries of the world have developed a wide array of government assistance programs for companies. However, it is only recently that researchers have started to evaluate the benefits of these programs empirically. This paper contributes to this emerging area of research by examining...

Previous studies demonstrate that there is skepticism about politicians’ use of financial information. Although this issue is generally recognized in literature, only very few researchers focused on real use of financial information in political budgeting practice. While many studies discussed...

The geographic concentration of retail firms is a remarkable phenomenon. Existing literature suggests that retail firms benefit from spatial concentration in terms of heightened demand. However, the proximity to other firms also intensifies competition and results in higher costs for land and...

This paper uses scanner data at the individual customer level, compiled from the loyalty card database of a European retailer, to determine the importance of implicit contracts as a source of price stickiness. Drawing from Customer Relationship Management (CRM), we use segmentation techniques...

Retaining customers has been considered one of the most critical challenges among those included in Customer Relationship Management (CRM), particularly in the grocery retail sector. In this context, an accurate prediction whether or not a customer will leave the company, i.e. churn prediction,...

We open up the black box of learning from experience by building upon the emerging stream of research on learning from performance feedbacks. We go beyond prior research that has regarded experience as a homogenous construct by introducing and theorizing three specific attributes of experience:...

There is growing interest in public expenditure studies with regard to drug policy. These studies have a potential role on multiple levels. Firstly, they provide insight into how the drug budget is composed and what the public authority’s so-called ‘policy mix’ is. Moreover, in view of the...

The purpose of this special issue is to promote research on the role of family in nurturing entrepreneurial ventures as well as on the importance of strategic entrepreneurship in maintaining the strength and viability of established and multigenerational family firms. Two related research...

We put together the different conceptual issues involved in measuring inequality of opportunity, discuss how these concepts have been translated into computable measures, and point out the problems and choices researchers face when implementing these measures. Our analysis identifies and...