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This paper investigates the determinants of success in the development of new drugs. In specific, it explores the factors of success in drug development programs at different stages of innovation process. We use economies of scale, scope, R&D competition and technological spillovers as...
Persistent link: https://www.econbiz.de/10010270028
This paper aims to investigate the effect of knowledge characteristics on the total factor productivity of firms developing drugs in the pharmaceutical industry. We decompose knowledge into knowledge associated with the technological firm portfolio and knowledge related to R&D projects, which...
Persistent link: https://www.econbiz.de/10010270030
The G20 summits in 2009 have proposed major changes in governance of the International Monetary Fund (IMF). Most important seems to be the acknowledgment that the IMF in its current form lacks legitimacy and ownership. Accordingly, the G20 suggests a reallocation of voting shares to emerging and...
Persistent link: https://www.econbiz.de/10010270054
use information from the World Values Survey about subjective happiness and life satisfaction. We relate this information …
Persistent link: https://www.econbiz.de/10010270058
Persistent link: https://www.econbiz.de/10010270378
Das Buchanan-Kooperationsmodell der voluntary provision of public goods wird in diesem Beitrag formalisiert und auf den Fall eines reichen und eines armen Akteurs angewandt. Hinsichtlich der Nutzenfunktionen der Akteure werden zwei unterschiedliche Szenarienanalysiert: Während im...
Persistent link: https://www.econbiz.de/10010270383
This paper examines the puzzlingly high unexploited momentum returns from a new perspective. We analyze characteristics of momentum traders in a sample of 692 fund managers. We find that momentum traders are 'defined' by their short-term horizon, by a behavioural view on the market and by a...
Persistent link: https://www.econbiz.de/10010270394
In this paper we analyze the distribution of fertility rates across the world using parametric mixture models. We … demonstrate the existence of twin peaks and the division of the world's countries in two distinct components: a high … continue to exists over the whole observation period. In 1950 about two thirds of the world's countries belonged to the high …
Persistent link: https://www.econbiz.de/10010270395
The use of technical analysis by financial market professionals is not well understood. This paper thus analyzes survey evidence from 692 fund managers in five countries, the vast majority of whom rely on technical analysis. At a forecasting horizon of weeks, technical analysis is the most...
Persistent link: https://www.econbiz.de/10010270396
The report provides an analysis of the financial crisis of 2007/2008 and draws some conclusions about the need for regulatory reform. The analysis ascribes the crisis not only to problems in subprime mortgage lending and securitization, but also to excessive maturity transformation and...
Persistent link: https://www.econbiz.de/10010270448