In this paper we analyze the convergence of interest rates in the European Monetary System (EMS) in a framework of changing persistence. This allows us to estimate the exact date of full convergence from the data. A change in persistence means that a time series switches from stationarity to...

Nonprofit organizations worldwide are confronted with an increasing demand for accountability and improved financial transparency. Financial reporting by nonprofit organizations is no longer an exception, it has become a rule. The usefulness of a financial report to an organization’s...

This paper reports on a new solution approach for the well-known multi-mode resource-constrained project scheduling problem (MMRCPSP). This problem type aims at the selection of a single activity mode from a set of available modes in order to construct a precedence and a (renewable and...

We estimate monetary policy rules for six central and eastern European countries (CEEC) during the period, when they prepared for membership to the EU and monetary union. By taking changes in the policy settings explicitly into account and by introducing several new methodological features we...

Governments have increasingly become involved in stimulating cooperation for innovation and R&D and have less focused on direct R&D subsidies. One set of initiatives is targeted at providing financial support for technology intermediaries. In this paper, we shed light on when technology...

Nowadays, companies are investing in a well-considered CRM strategy. One of the cornerstones in CRM is customer churn prediction, where one tries to predict whether or not a customer will leave the company. This study focuses on how to better support marketing decision makers in identifying...

This paper characterises optimal short-run monetary policy in an economy with monopolistic competition, endogenous firm entry, a cash-in-advance constraint and preset wages. Firms must make profits to cover entry costs; thus the markup on goods prices is efficient. However, a distortion results...

Marketers often use salient stimuli to draw consumers’ attention to a specific brand in the hope that a selective focus on the own brand increases the sales of this brand. However, previous studies are inconsistent concerning the impact that selectively focusing on a specific brand has on...

Several recent studies have explored the virtues of behavioral targeting and personalization for online advertising. In this paper, we add to this literature by proposing a cost-effective methodology for the prediction of demographic web site visitor profiles that can be used for web advertising...

Predicting customer churn with the purpose of retaining customers is a hot topic in academy as well as in today’s business environment. Targeting the right customers for a specific retention campaign carries a high priority. This study focuses on two aspects in which churn prediction models...