Using survey evidence the paper characterises TNCs' strategic positioning in central and eastern European economies in terms of the relative status of seven motives for investing and the degree of use of seven sources of technology. As a key theme the ways in which the diverse objectives and...

The paper seeks to reformulate the ‘colourful and fluid’ early debate on the effects of foreign direct investment (FDI) in two ways. Firstly, the wide range of separate specific concerns of the early debate are subsumed within four generic issues, (i) efficiency, (ii) distribution, (iii)...

In this paper, we look at the factors determining IJV performance in a developing country. In doing so, the paper lays emphasis on two other aspects of performance: firstly the measure of performance and secondly the perspective from which it is evaluated. Our analysis draws on the results of a...

Depreciation is a key element of understanding the returns from and price of commercial real estate. Understanding its impact is important for asset allocation models and asset management decisions.  It is a key input into well-constructed pricing models and its impact on indices of commercial...

Drawing on a unique database of office properties constructed for Gerald Eve by IPD, this paper examines the holding periods of individual office properties sold between 1983 and 2003. It quantifies the holding periods of sold properties and examines the relationship between the holding period...

Current research on financial risk management applications of econometrics centres on the accurate assessment of individual market and credit risks with relatively little theoretical or applied econometric research on other types of risk, aggregation risk, data incompleteness and optimal risk...

We view risk management as an integral part of good management. Risk management should take a balanced view of decision problems encompassing all significant risks and rewards. Operational risks are only one type of risks and therefore are only one piece in the jigsaw puzzle that only makes...

In this paper we investigate whether there are any significant differences in the ability of constant and time-varying expected return asset pricing models to detect superior performance in hedge funds. Our results strongly suggest that the static models traditionally employed to measure and...

We study the short-run performance of the Chinese privatization initial public offerings (PIPOs), using data of 668 new issues on the both Shanghai and Shenzhen Stock Exchanges from 1 January 1996 through 31 December 2000. We find that the average market-adjusted initial returns on the 1st, 5th,...