In this book the relation between the characteristics of investors' preferences and expectations and equilibrium asset price processes are analysed. It is shown that declining elasticity of the pricing kernel…

The literature on the relationship between firm value and knowledge capital is based on stock market valuation. We use a credit rating score as an alternative measure. Innovative firms achieve better ratings,…

This paper analyzes the relationship between investment in information and communication technologies (ICT), non--ICT--investment, labor productivity and workplace reorganization. Firms are assumed to…

The huge economic and social impact of high-tech industries on the fortunes of nation states has been widely recognised in recent years. Therefore, government policies encouraging the creation of new…

In this paper, the relationship between the degree of centralisation and the distributive outcomes in European schemes of social assistance is investigated. For this purpose, a scheme of classification…