Since the seventies, the Federal Republic of Germany has become increasingly integrated in the world economy through it's high rates of foreign direct investment carried out by German multinational enterprises. In the limelight of the 'job export1 debate which paralleled these investment flows...

In einem einfachen theoretischen Erklärungsansatz werden Aspekte eines internationalen Handels in differenzierten Gütern diskutiert. Neben homogenen Gütern können insbesondere differenzierte Güter intraindustriellen Güteraustausch begründen. Von dieser Form der internationalen...

This paper examines the behavior of a competitive exporting firm that exports to two foreign countries under multiple sources of exchange rate uncertainty. The firm has to cross-hedge its exchange rate risk exposure because there is only a forward market between the domestic currency and one...

The paper focuses on the interaction between the solvency probability of a banking firm and the diversification potential of its asset portfolio when determining optimal equity capital. The purpose of this paper is to incorporate value at risk (VaR) into the firm-theoretical model of a banking...