The objective of the research undertaken in this paper is to highlight the importance of gender and cultural diversity, social inclusion and both personal and professional development of the employees, in order to mitigate the risks faced by companies, such as to improve the profitability and,...

The digital transformation is disrupting the financial sector. Venture capital, private equity and hedge funds are also affected. We see more and more firms implement emerging technologies in their investment process. There are several common trends. Big Data analytics and the use of artificial...

The COVID-19 pandemic caused an unprecedented global economic downturn, affecting productivity, business dynamics, and digital technology adoption. Using a comprehensive commercial database from Spiceworks Ziff Davis, this study analyses the firm-level drivers of digitalisation during the...

Why do export sales increasingly concentrate among a few "superstars"? This paper is the first to argue that the expansion of the Internet matters for this phenomenon. Using firm-level customs transaction data from 11 developing countries, we show that the spread of the internet steepens the...

Comprehensive global cooperation is essential to limit global temperature increases while continuing economic development, e.g., reducing severe inequality or achieving long-term economic growth. Achieving long-term cooperation on climate change mitigation with n strategic agents poses a complex...

In this paper we measure the systemic risk in a set of large international banks. We first measure the contribution of a financial institution to international systemic risk. Importantly, we show the existence of an asymmetric non-linear contribution of banks to systemic risk depending on...

This paper proposes a novel approach to uncover the linkages of the housing market and macroeconomy for fifteen OECD countries. One of the limitations of conventional approach is that it does not distinguish the time domain from the frequency domain. However, econometric and economic rationale...

In today's turbulent marketplace with unprecedented portfolio turnover, transition activity and drawdowns, one must identify and eliminate all sources of Sharpe ratio erosion. In this environment, trading costs and risks are significant contributors to this performance drag and avoiding them is...

In this paper, we analyse the effects of a shock to global financial uncertainty and risk aversion on real economic activity. To this end, we extract a global factor, which explains approximately 40% of the variance of about 1000 risky asset returns from around the world. We then study how...

Since the beginning of the decade, flows to institutional and retail products in the international small cap space have grown at a faster clip than flows to international large caps.The reasons for this are fairly obvious - greater alpha generating opportunities and higher diversification...