An Arbitrage Pricing Model is estimated in which the risk premia vary in proportion to the conditional volatilities of the macroeconomic innovations which follow an autoregressive specification. The conditional volatilities of the macroeconomic innovations exhibit strong time-variation from...

This paper discusses the role of managerial mental models (cognitive structures) in the framework of the firms strategic marketing development. The conceptualisation is based on theories of cognition, learning and strategy development. The empirical part focuses on the exploration of mental...