In the three-factor model of Fama and French (1993), portfolio returns are explained by the factors Small Minus Big (SMB) and High Minus Low (HML) which capture returns related to firm capitalization (size) and the book-to-market ratio (B/M). In the standard approach of the model, both the test...

Until today there is a research gap considering the question, what motivates a member to enter or leave a co-op, resp. what are the reasons to stay in a co-operative. The majority of studies about this topic mainly focus on economic factors and the rational behavior of the member. However,...

Contradictory and missing outcomes are problems common to many qualitative comparative studies, based on the methodology of crisp-set QCA. They also occur in public policy analyses, e.g. if important background variables are omitted or outcomes of new policies are technically censored. As a new...

In this paper, we provide an overview of the relationship between international migration and international trade as well as capital movements. After taking a brief historical perspective, we first investigate migration flows between two countries in a static, neoclassical context. We allow for...

The present article proposes a new approach to compare mobile communication service prices among different communications service providers. To this end, a hedonic model based on monthly phone bills is employed that relates billed amounts and the quantities of consumed mobile communication...

Unsicherheit und Wandel sind heute beinahe Selbstverständlichkeiten. Trotzdem stellen sie die Unternehmen vor grosse Herausforderungen. Insbesondere die langfristige strategische Ausrichtung ist im Kontext von Unsicherheit und Wandel eine anspruchsvolle Aufgabenstellung. Das vorliegende Working...

Professionalität im Management von kleinen und mittleren Vereinen weist einen deutlichen Zusammenhang mit ihrer Ressourcenlage und dem Grad ihrer Zielerreichung auf. Am Beispiel von Schweizer Sportvereinen lässt sich zeigen, dass sich die erfolgreicheren Vereine insbesondere durch eine...

Spenden sammelnde Organisationen besitzen beträchtliche und in der Praxis eher unterschätzte Freiheitsgrade in der Bestimmung ihres Finanzierungsmix. Der Beitrag erläutert im ersten Schritt sieben verschiedene Kalküle, die bei der Festlegung des angestrebten Mix aus privaten Spenden,...

Trust in the citizens of a potential partner country may affect the decision to trade with or to migrate to a foreign country. This paper employs panel data to examine the causal impact of such bilateral trust on international trade and migration patterns. We apply instrumental variables (IV)...

The paper revisits the debate on trickle-down growth in view of the widely discussed evolution of the earnings and income distribution that followed a massive expansion of higher education. We propose a dynamic general equilibrium model to dynamically evaluate whether economic growth triggered...