This paper considers the problem of multi-species fisheries managementwhen targeting individual species is costly and at-sea discards of fish by fishermenare unobserved by the regulator. Stock conditions, ecosystem interaction, technologicalspecification, and relative prices under which at sea...

We use panel data from nine countries over the period 1996 to 2003 to test how revenue diversi-fication in conjunction with increasing bank size affects bank value. Using a comprehensive framework for bank performance measurement, we find no evidence for a conglomerate dis-count, unlike studies...

In den vergangenen Jahren wurde der Bereich des Alternativen Risiko Transfers (ART) sehr intensiv in der deutschsprachigen sowie internationalen Literatur behandelt. Hierbei wurden allerdings im wesentlichen die versicherungstechnischen Aspekte des Alternativen Risiko Transfers - insbesondere...

This discussion paper analyzes the relationship between the individual growth dimensions. Futhermore it tries to identify common growth patterns.

This paper releases the result of an empirical study of the trends and major determinants of technological diversification in the period from 1983 to 1997.

Das Diversifikationsstreben, das in den 60er und 70er Jahren unter anderem als Mittel der Risikostreuung propagiert worden ist, führte zum Entstehen einer zunehmenden Zahl von "Multibusiness Firms" mit vielen, teils heterogenen Einzelgeschäften ...

The author studies the connection between the form of the similarity function of a decision-maker and his willingness to diversify.

Die Erfassung und Berücksichtigung von Klumpenrisiken in Kreditportfolios ist einer der Punkte, mit denen sich die Kreditwirtschaft nach der Veröffentlichung desZweiten Baseler Konsultationspapiers besonders intensiv befasst. Insbesondere die Sparkassenorganisation, deren Institute in ihrer...

We examine the quantification of operational risk for banks. We adopt a financial-economics approach and interpret operational risk management as a means of optimizing the profitability of an institution along its value chain. We start by defining operational risk and then propose a...

We use portfolio theory to quantify the efficiency of state-level sectoral patterns of production in the United States. On the basis of observed growth in sectoral value-added output, we calculate for each state the efficient frontier for investments in the real economy. We study how rapidly...