We compare single factor Markov-functional and multi factor market models for hedging performance of Bermudan swaptions. We show that hedging performance of both models is comparable, thereby supporting the claim that Bermudan swaptions can be adequately riskmanaged with single factor models....

Multidimensional scaling (MDS) is often used for the analysis of correlation matrices of items generated by a facet theory design. The emphasis of the analysis is on regional hypotheses on the location of the items in the MDS solution. An important regional hypothesis is the axial constraint...

Despite their strategic importance firm’s motivations to extend brands have received only modest attentions by marketing scholars. We use multiple events duration models to examine the timing of launching brand extensions. We provide a theoretical framework of brand extensions based on...

The purpose of this study is to systematically examine the advantages and disadvantages of different types of family businesses. We distinguish four different types of family businesses based on their family and business orientation: (1) House of Business, (2) Family Money Machine, (3) Family...

The importance of standardisation is growing. This might be reflected in a growth of standardisation education. In this paper we will elaborate on education in the field of standardisation.

Large-scale strategic change projects in companies may be supported by using alliance networks. This paper shows that IBM’s change from an exploitation strategy towards an exploration strategy required a radically different network strategy as well. By entering into more non-equity...

The value of networks as integral part of the explanation of entrepreneurial success is widely acknowledged. However, the network perspective lacks specification of the various dimensions of a network and their impact on the early development of a venture. We make a distinction between a...

Laboratory studies have shown that decision-making groups tend to focus on common information at the expense of unique information. In the current study, high level business executives completed a personnel selection task. Access to information about the candidates was not controlled as in a...

This study presents a method to establish empirically what drives organization members in their day-to-day behavior. The method starts from the sense employees make of their own actions. The approach consists of two steps: qualitative laddering interviews to determine the most central means and...

To analyze the intertemporal interaction between the stock and bond market returns, we allow the conditional covariance matrix to vary over time according to a multivariate GARCH model similar to Bollerslev, Engle and Wooldridge (1988). We extend the model such that it allows for asymmetric...