In this paper we investigate hedging a stock portfolio with stock index futures. Instead of defining the hedge ratio as the minimum variance hedge ratio, we consider several measures of downside risk: the semivariance according to Markowitz [ 19591 and the various lower partial moments according...

Recent theorizing in cluster literature emphasizes the importance of inter-cluster knowledge linkages in addition to local knowledge dynamics, enabling new and innovative ideas to flow from one cluster to the other. This paper contributes to this topic by studying inter-cluster knowledge...

This paper reports the results of a survey study among Dutch listed manufacturing companies on the adoption and use of costing practices that resemble the Japanese target costing concepts. Twenty-two of thirty-two responding firms claimed to use costing practices similar to target costing. The...

By empirically testing a framework of pricing strategies and their determinants in an industrial setting, Noble and Gruca (1999a) help to overcome the lack of empirical validation of pricing theory. In a commentary to the article, Cressman (1999) (1) expresses worries about the high percentage...