We investigate the performance of non-linear return prediction models in the high complexity regime, i.e., when the number of model parameters exceeds the number of observations. We document a "virtue of complexity" in all asset classes that we study (US equities, international equities, bonds,...

We study how a firm’s bond structure affects the pricing of its bonds and its base of bond investors. We define bond complexity as the tangle of contractual terms of all outstanding bonds of a firm, and find that it increases bond yield spreads. Specifically, a 1-standard deviation higher...

The evolution of the convergence among the European countries, including both Eurozone as well as non-Eurozone economies, is investigated in this paper. To do so, we construct correlation-based networks and study them by employing the Threshold Weighted-Minimum Dominating Set (TW-MDS) algorithm...

Based on the works of Alistair Anderson, this article explores entrepreneuring in the context of entrepreneurial families prior to, and following, the death of a leading family member in business. Until now, literature has suggested that the loss of a leading family member may bring complexity...

A high organizational complexity above the cognitive limits of employees and management can contribute to a business performing sub-standardly in comparison to its competitors. As businesses can grow over time into a state of high complexity, an active approach to complexity management has to be...