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We present the optimal consumption and investment strategy for an investor, endowed with labor income, searching to maximize utility from consumption and terminal wealth when facing a binding capital constraint of a European (constraint on terminal wealth) or an American (constraint on the...
Persistent link: https://www.econbiz.de/10011030571
Persistent link: https://www.econbiz.de/10001955316
The rapid transition to a decarbonized energy economy is widely believed to hinge on the rate of cost improvements for certain clean energy technologies, in particular renewable power and energy storage. This paper adopts the classical learning-by-doing framework of Wright (1936), which predicts...
Persistent link: https://www.econbiz.de/10013229535
This paper assess determinants of productivity gaps between firms in the European transition countries and regions and firms in West Germany. The analysis is conducted at the firm level by use of a unique database constructed by field work. The determinants tested in a simple econometric...
Persistent link: https://www.econbiz.de/10003576739
Korrelation durch das höhere Humankapital eines "Durchschnittsbeschäftigten" in besser gemanagten Firmen erklärt. Einen größeren … Anteil (ungefähr 13%) macht das Humankapital der höchstbezahlten Beschäftigten aus, die wir als Manager in der betreffenden … mit höherem Humankapital rekrutieren und diese binden. Insgesamt erklären Personalauswahl und Lohnaufschläge somit fast 30 …
Persistent link: https://www.econbiz.de/10011458600
This paper assess determinants of productivity gaps between firms in the European transition countries and regions and firms in West Germany. The analysis is conducted at the firm level by use of a unique database constructed by field work. The determinants tested in a simple econometric...
Persistent link: https://www.econbiz.de/10013156564
A long-standing ideology in business education has been that a corporation is run for the sole interest of its shareholders. I present an alternative view where increasing concentration of economic activity and power in the world's largest corporations, the Global 1000, has opened the way for...
Persistent link: https://www.econbiz.de/10010371358
The primary role of equity compensation is to provide incentives to an effort-averse agent. Here, we show that the chosen level of equity incentives, when publicly disclosed, will also convey information about future earnings, causing two-way linkages between incentive compensation and financial...
Persistent link: https://www.econbiz.de/10013131447
<p>I discuss a new intellectual paradigm, social economics and finance: the study of the social processes that shape economic thinking and behavior. This emerging field recognizes that people observe and talk to each other. A key, underexploited building block of social economics and finance is...</p>
Persistent link: https://www.econbiz.de/10012839970