The main objective of this paper is to analyze within the Mean-Downside Risk (MDR)-framework the relevance of the investment horizon for deriving optimal US asset class allocations. The choice of this risk framework is motivated by its close connection towards the way investors perceive risk and...

Books reviewed: Hooghe L. and Marks G., Multi-Level Governance and European Integration Loughlin J. (ed.), Subnational Democracy in the European Union: Challenges and Opportunities Sidjanski D., The Federal Future of Europe: From the European Community to the European Union Delwit P., Kulahi E....

In this paper, we deal with the challenges offered to international firms by combined transport. We start with an introduction to logistics and marketing channels. An attempt is made to link the current theory about marketing channels to combined transport and logistics in order to develop a...