In this paper we analyze how a firm might protect quasi-rents in an environmentof imperfect capital markets, where switching lenders is costly to the borrower, andcontracts are incomplete. As switching costs make the firm vulnerable to ex-postexploitation, it may want to diversify lending in...

In most industrialized countries electric power tariffs for residentialconsumption are higher than for industrial customers. In Russia, asin some other transition countries, this pattern is reversed, but at thesame time the overall level of tariffs is very low. Cross subsidization ofresidential...

Compared to other European countries, housing policy in Germany has been favourable towards private rented housing. As a result, the private rented housing sector in Germany is large according to international standards. It appears to be 'healthy' in terms of housing quality and social profile...

Im betrieblichen Umweltmanagement wird heute nach den tatsächlichen Ergebnissen eines Umweltmanagementsystems sowie nach konsistenten Kriterien zur deren Messung, Bewertung und Beurteilung gefragt. Dem Ausspruch Galileo Galilei's "Messen, was messbar ist - Messbar machen, was nicht messbar ist"...

Empirical research documents that temporary trends in stock pricemovements exist. Moreover, riding a trend can be a profitable investment strategy. (...)

Verwaltungsmodernisierung ist in aller Munde, vor allem auf kommunalerEbene. Nach der ersten Euphoriephase stellt sich nunmehr allerdings verstärktErnüchterung ein. Als zentrales Implementationshindernis tritt dabei, nebenden Problemen im Zusammenhang mit der Beschäftigtenbeteiligung und...