Die Balanced Scorecard ist inzwischen ein bewährtes Instrument für strategisches Management. Im ersten Teil der Arbeit wird dieses Instrument vorgestellt und grundsätzliche konzepzionelle Überlegungen für die Einführung ...

We present a dynamic general equilibrium model with agency costs, where heterogeneous firms choose among two alternative instruments of external finance - corporate bonds and bank loans. We characterize the financing choice ...

The most important policy instruments of the Bundesbank and of the coming European Central Bank involve lending to domestic credit institutions. In this monetary setup, banks use short-term central bank credits extensively ...

This paper investigates determinants of changes of the labor share in developed countries with a focus on Western Europe. Using a country-industry panel that covers the private sector, the paper focuses on long and short-run ...

We study the problem of finding the minimal initial capital needed in order to hedge without risk a barrier option when the vector of proportions of wealth invested in each risky asset is constraint to lie in a closed ...

We develop a new approach to Baxter Q-operators by relating them to the theory of Yangians, which are the simplest examples for quantum groups. Here we open up a new chapter in this theory and study certain degenerate ...