The international beer brewing industry has experienced massive changes over the last decade. Industry concentration has increased dramatically, and the leading brewer groups have globalised their operations across virtually all continents. The paper describes the development and puts it into an...

We develop a simple model of the effects of reputation on wine prices. An increasing fraction of consumers who are “naïve” (less well informed about wine quality) results in a stronger sensitivity of wine prices to ratings of quality. We then use data on prices and Robert Parker’s ratings...

In this paper, we use confidential personnel records from a large multinational firm to study the differences in subjective performance evaluation and their consequences across countries. We focus our analysis on three different sets of countries: Europe (where the headquarter is established),...

Education as a road to growth has been on the political agenda in recent years and promoted not least by the institutions of higher education. At the same time the universities have been squeezed for resources for a long period and the average class size has increased as a result. However, the...

In recent years the amount of waste generated by Danish firms has increased significantly. In the present analysis we use the decomposition analysis, which has been widely used in the energy economics literature to explain the mechanisms influencing energy consumption and CO2 emissions. In this...

Low-wage jobs in Denmark are characterized by short durations and a relatively high mobility to higher wage positions, but also to unemployment. This fact might to some extent be attributed to the generous Danish UI system. The theoretical prediction for this relation is twofold. First, a...

Can corporate governance ratings reduce problems of asymmetric information between companies and investors? To answer this question, we set out to examine the information basis for providing such ratings by reviewing corporate governance attributes that are required or recommended in laws,...