This paper analyses the impact of sovereign wealth funds (SWFs) on global financial markets. It presents back-of-the-envelope calculations which simulate the potential impact of a transfer of traditional foreign exchange reserves to SWFs on global capital flows. If SWFs behave as CAPM-type...

Die Abschätzung der Effekte unilateraler Klimapolitik-Maßnahmen sowie deren Wirksamkeit geschieht in der bestehenden Literatur vornehmlich durch „Computable General Equilibrium“ (CGE) Modelle oder durch darauf basierende Integrated Assessment Modelle. Die Auswahl der zur Kalibrierung der...

This study applies a novel way of measuring, quantifying and modelling the systemic risk within the financial system. The magnitude of risk spill over effects is gauged by introducing a specific weighting scheme. This approach originally stems from spatial econometrics. The methodology allows...

The literature on the information society indicates that it is a still-developing field of research. It can be explained by the lack of consensus on basic definitions and research methods. There are also different judgments on the importance and the significance of the information society. Some...

A number of researchers indicate that although environmental and personal characteristics are important for developing entrepreneurial intentions, a better understanding would be gained if innovative cognitive style, as a moderating factor, would be introduced. According to theory, individuals...

As the author could not find a reassuring mathematical and statistical method for studying the effect of the information communication technology on businesses in the literature, the author proposed a new research and analysis method that he also used to study the Hungarian economic sectors. The...

Financial markets are to a very large extent influenced by the advent of information. Such disclosures, however, do not only contain information about fundamentals underlying the markets, but they also serve as a focal point for the beliefs of market participants. This dual role of information...

The experience in the period during and after the Asian crisis of 1997-98 has provoked an extensive debate about the credit rating agencies evaluation of sovereign risk in emerging markets lending. This study analyzes the role of credit rating agencies in international financial markets,...