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Internationale Rechnungslegungsnormen und Neue Institutionenökonomik

Wüstemann, Jens - 1999

Die Öffnung des deutschen Bilanzrechts bewirkt eine zunehmende Anwendungsbreite von internationalen Rechnunungslegungsnormen (wie insbesondere der US-GAAP und der IAS) für deutsche Rechtsanwender;1 die heterogenen Normtypen und die – damit einhergehend – unterschiedlichen ökonomischen...

Persistent link: https://www.econbiz.de/10010316236

Avoiding the rating bounce: Why rating agencies are slow to react to new information

Löffler, Gunter - 2002

Rating agencies state that they take a rating action only when it is unlikely to be reversed shortly afterwards. Based on a formal representation of the rating process, I show that such a policy provides a good explanation for the empirical evidence: Rating changes occur relatively seldom,...

Persistent link: https://www.econbiz.de/10010316237

Path Dependence, Corporate Governance and Complementarity

Schmidt, Reinhard H.; Spindler, Gerald - 2000

In a series of recent papers, Mark Roe and Lucian Bebchuk have developed further the concept of path dependence, combined it with concepts of evolution and used it to challenge the wide-spread view that the corporate governance systems of the major advanced economies are likely to converge...

Persistent link: https://www.econbiz.de/10010316240

Accounting for Financial Instruments in the Banking Industry

Gebhardt, Günther; Reichardt, Rolf; Wittenbrink, Carsten - 2002

different accounting models for financial instruments on the financial statements of banks, we develop a bank simulation model … capturing the essential characteristics of a modern universal bank with investment banking and commercial banking activities. In … and with different banking strategies (fully hedged; partially hedged). The financial statements of our model bank are …

Persistent link: https://www.econbiz.de/10010316245

Portfolio Choice and Estimation Risk: A Comparison of Bayesian to Heuristic Approaches

Herold, Ulf; Maurer, Raimond - 2002

Estimation risk is known to have a huge impact on mean/variance (MV) optimized portfolios, which is one of the primary reasons to make standard Markowitz optimization unfeasible in practice. Several approaches to incorporate estimation risk into portfolio selection are suggested in the earlier...

Persistent link: https://www.econbiz.de/10010316250

The Valuation of Employee Stock Options - How Good Is the Standard?

Raupach, Peter - 2003

This study contributes to the valuation of employee stock options (ESO) in two ways: First, a new pricing model is presented, admitting a major part of calculations to be solved in closed form. Designed with a focus on good replication of empirics, the model fits with publicly observable...

Persistent link: https://www.econbiz.de/10010316309

Entwicklungsfinanzierung

Schmidt, Reinhard H. - 2000

Persistent link: https://www.econbiz.de/10010316320

Ist die Hebelwirkung der Grund für Asymmetrie in ARCH- und GARCH-Modellen?

Schoffer, Olaf - 2000

Persistent link: https://www.econbiz.de/10010316711

The determinants of trade survival

Fugazza, Marco; Molina, Ana Cristina - 2009

The aim of this paper is to explore the patterns of trade duration across regions and to identify its determinants. Using an extended Cox model, we evaluate the effects of country and product characteristics, as well as of trade cost variables on the duration of trade relationships from 96...

Persistent link: https://www.econbiz.de/10010316725

A bayesian spatial probit estimation of free trade agreement contagion

Jaimovich, Dany - 2010

This paper analyzes the spatial interdependence of Free Trade Agreements (FTAs) in a cross-section framework using the Contagion Index proposed by Baldwin and Jaimovich (2010). A Bayesian heteroskedastic probit model is estimated, where a spatial lag is built based on the Contagion Index,...

Persistent link: https://www.econbiz.de/10010316732