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Making European Merger Policy More Predictable
Making European Merger Policy More Predictable analyses European Merger Control with regard to its capacity to generate predictability among the concerned parties. Starting from the premise that predictability is of overwhelming importance for the functioning of market economies, Voigt and Schmidt ask to what degree European Merger Control has been predictable over the last couple of years. The authors show both theoretically and empirically that there have been serious shortcomings with regard to the predictability of competition policy. They identify the insufficient recognition of the consequences of globalization on the competitive processes as well as an often inconsistent application of economic theory as the root causes for the lack of predictability. The inconsistent application of economic theory is particularly relevant with regard to potential competition and the evaluation of collective dominance. The authors generate a substantial number of proposals that could help to improve predictability. On this basis, Voigt and Schmidt critically assess the recent reforms of European Merger Control.
Learning Analytics : Using Talent Data to Improve Business Outcomes
Effective evaluation and measurement of learning and development initiatives is critical to maximise the impact of training, identify gaps for improvement and ensure that efforts are aligned to the business' needs. Learning Analytics outlines how analytical approaches can respond to these challenges, the types and benefits of technological solutions and how to ask the right questions of organizational data in order to build a learning organization that boosts performance and competitive advantage.
Key Account Management in Business-to-Business Markets: An Assessment of Its Economic Value
In times of fierce competition in business-to-business markets strong and economically sound business relationships with a company's customers rank among the main success factors. As a well established marketing management conception, key account management is of particular significance in this context. Interestingly enough, empirical research studies have recently proved that relationship marketing, and particularly key account management, does not achieve the economic value originally expected.
Competitiveness in the Tourism Sector : A Comprehensive Approach from Economic and Management Points
International tourism is expected to be a major vehicle of economic development in industrializing countries in the 21st century, especially for Asia. To generate long-term growth, countries with tourism-based economies must develop strategies for employing their comparative advantages to achieve competitive advantages. However, competitiveness in the tourist industry is multi-dimensional and complex. This study evaluates the competitiveness of the Taiwanese tourism sector by a multi-dimensional framework. The theoretical model proposes that the competitiveness of tourist destinations should be composed of Ricardian comparative advantages (like the conditions of natural endowments and the degree of technological change); Porterian competitive advantages; tourism management, i.e., providing high quality education and job training, public goods, support services and reduced transaction costs to enhance comparative and competitive advantages; and environmental conditions.
Bringing the Jobless into Work? : Experiences with Activation Schemes in Europe and the US
Over the last decade, many industrialized countries shifted from passive unemployment and welfare benefit regimes and traditional active labor market and social policies to activation strategies by making benefit receipt conditional upon accepting job offers or participation in active labor market schemes. But countries differ with regard to the design of activation instruments and their implementation, the definition of target groups and the effects of activation in the national labor market setting. This volume provides an up-to-date overview of activation strategies in unemployment benefit systems and social assistance in selected European countries and the US. A particular focus lies on the development of activation schemes, governance and implementation as well as on the outcomes of activation in terms of labor market and social integration. The volume is the first to address these issues both from a socio-economic and a legal perspective.
Banks and shareholder value : An overview of bank valuation and empirical evidence on shareholder value for banks
In the German banking sector, management is continually increasing its focus on shareholder interests. This can be seen in the ambitious profitability targets set by management in this sector. Some municipalities are also putting increasing pressure on Landesbanks and saving banks, as members of the largest German banking group, to create greater financial value.
Banking Sector Liberalization in India : Evaluation of Reforms and Comparative Perspectives on China
Banking Sector Liberalization in India explores in detail the changes in the Indian banking sector over the last 20 years, and puts them into a comparative perspective with the Chinese banking sector. For this purpose, the author develops a detailed indicator-based framework for assessing the liberalization of a banking sector along various process steps based on financial liberalization and transformation studies. This framework, along with the indicators for the process and the results of liberalization, is applied to the banking sectors in India and China to test for the effects of liberalization on the sector and the macro level. The key finding is that while liberalization has improved the sectoral performance, it has so far had no effect on the macro level. The book features a detailed description of recent reforms in the Indian banking sector, a set of indicators for evaluating banking sector reforms, and a large number of graphs with key figures for the banking sectors in India and China.
Applications of simulation methods in environmental and resource economics
Simulation methods are revolutionizing the practice of applied economic analysis. This volume collects eighteen chapters written by leading researchers from prestigious research institutions the world over. The common denominator of the papers is their relevance for applied research in environmental and resource economics. The topics range from discrete choice modeling with heterogeneity of preferences, to Bayesian estimation, to Monte Carlo experiments, to structural estimation of Kuhn-Tucker demand systems, to evaluation of simulation noise in maximum simulated likelihood estimates, to dynamic natural resource modeling. Empirical cases are used to show the practical use and the results brought forth by the different methods.
Advances in modern tourism research : Economic perspectives
Modern Advances in Tourism Research provides a thorough assessment of state-of-the-art academic research in this recent field of economic science. The authors start by scoping the scene of tourism research, evolving then to a comprehensive analysis of themes of particular interest for researchers and academics interested on the workings of the tourism markets. With a view to go beyond fundamental research, the book closes with a chapter dedicated to applied country and regional studies.
Advanced REIT Portfolio Optimization : Innovative Tools for Risk Management
This book provides an investor-friendly presentation of the premises and applications of the quantitative finance models governing investment in one asset class of publicly traded stocks, specifically real estate investment trusts (REITs). The models provide highly advanced analytics for REIT investment, including: portfolio optimization using both historic and predictive return estimation; model backtesting; a complete spectrum of risk assessment and management tools with an emphasis on early warning systems, risk budgeting, estimating tail risk, and factor analysis; derivative valuation; and incorporating ESG ratings into REIT investment.
Active labor market policies in Europe : performance and perspectives
Measures of Active Labor Market Policy - such as training, wage subsidies, public employment measures, and job search assistance - are widely used in European countries to combat unemployment.
Achievement evaluation of IFI assistance loans to China (1981-2002)
Represents the first comprehensive study done in China to evaluate the overall performance of IFI assistance to China from 1981 to 2002. It analyzes the efficiency of international assistance in contributing to the Chinese economy by investigating the actual implementation of the projects and their economic.
Accounting, Cash Flow and Value Relevance
Investigates the value relevance of the operating cash flow as reported under the International Financial Reporting Standards (IAS/IFRS) for the largest European listed companies and US listed companies in the past recent years. Using the model based on the valuation theory developed by Ohlson, which measures the market value of equity as a function of accounting variables, the author concludes that operating cash flow represents a significant variable in determining the value relevance of the largest European and US listed companies. These findings provide siginificant implications for standard setters and support the continued requirements for disclosure of cash flow information under IAS 7.
A Structural Framework for the Pricing of Corporate Securities : Economic and Empirical Issues
This book is the first comprehensive treatment, of structural credit risk models for the simultaneous and consistent pricing of corporate securities. Through the development of a flexible economic framework based on the firm's EBIT, the reader is taken from the economic principles of firm value models to the empirical implementation. Analytical solutions are provided, if EBIT follows an arithmetic or geometric Brownian motion.
Building Services Design for Energy Efficient Buildings
The following issues are addressed: background issues on climate change, whole-life performance and design collaboration generic strategies for energy efficient, low-carbon design health and wellbeing and post occupancy evaluation building ventilation air conditioning and HVAC system selection thermal energy generation and distribution systems low-energy approaches for thermal control electrical systems, data collection, controls and monitoring building thermal load assessment building electric power load assessment space planning and design integration with other disciplines.
Community schools : Designing for sustainability, wellbeing and inclusion
Reconsiders what is required from physical school environments, building on the learning gathered from the sector over the past two decades. To meet the new social, environmental and economic challenges it advocates designing differently, both in terms of the form that buildings take and the evaluation of their impact and performance. By calling for a reframing of the way that schools are regarded as community-wide amenities, this book explores the potential for architects to deliver design in a manner that supports healthy lifestyles and promotes wellbeing. Through encouraging social connections, new possibilities open up for educational facilities to become open, welcoming and inclusive. Featuring: Over 12 international case studies from practices including: Architype, Argyll + Bute, Bogle Architects, DRMM, Revaerk, Scott Brownrigg and XDGA. Key themes of wellbeing, connectivity, inclusion, indicators and evaluation. Practical guidance and learning points throughout. A new design brief for community schools
A beginner's guide to urban design and development : the ABC of quality, sustainable design
Provides invaluable guidance to all those with an interest in placemaking and the built environment, from those with no experience to those who have worked for many years in industry, illustrating key principles that will secure higher quality, more sustainable design in accessible, jargon-free language. Explains the design process in a straightforward way, exploring the different roles and highlighting the opportunities and limitations different agencies have to influence design over the various stages of the process. Examples from the UK and worldwide look at how the system operates and how best practice can make a real difference on the ground. Case studies examine situations where quality or sustainability fell short – and how this could have been avoided. This book also showcases a variety of evaluation tools, explaining how they operate, and giving guidance on how to create project-specific tools to drive schemes forward. With community empowerment at its core, the book explains technical language and shares bountiful knowledge to broaden place democracy and make influencing design accessible to many, not just a few.
Materials for Springs
“Materials for springs” is basically intended for engineers related to spring materials and technologies who graduated from metallurgical or mechanical engineering courses in technical high school, or in other higher engineering schools, as well as those who are related to the purchase or sales of spring materials. The first chapter introduces into the fundamental selection processes of spring materials including the information sources on materials database. It is followed by the basic mechanisms and theories of spring failures such as fatigue fracture, creep/stress relaxation and stress corrosion cracking of metallic materials.
Market-Consistent Actuarial Valuation
It is a challenging task to read the balance sheet of an insurance company. This derives from the fact that different positions are often measured by different yardsticks. Assets, for example, are mostly valued at market prices whereas liabilities are often measured by established actuarial methods. Market-Consistent Actuarial Valuation presents powerful methods to measure liabilities and assets in the same way. The mathematical framework that leads to market-consistent values for insurance liabilities is explained in detail by the authors. Topics covered are Stochastic discounting, Valuation portfolio in life and non-life insurance, Asset and liability management, Financial risks, Insurance technical risks, and Solvency.
Marine resource damage assessment : Liability and compensation for environmental damage
MARE-DASM research focused on: (i) the estimation and distribution of marine contaminants in order to assess their long term effects (ecotoxicology); (ii) the integration of these result into a Biological Effects SubModel and a mathematical model assessing the risks associated with accidental spillage of oil at sea and the damage this can cause (modelling); (iii) the assessment of the willingness to pay for ecological damage, based on the Contingent Valuation Method (economics); (iv) the development and evaluation of measures to be taken in order to guarantee a sustainable use of the Belgian part of the North Sea, taking into account the economic and social interests and values (social economics); (v) the potential to develop technical and legal procedures that allow ecological damage to the marine environment to be evaluated and compensated, taking into account constraints in national and international liability legislation (legal).
