The question of whether the CEO should also serve as chairman of the board is one of themost hotly debated issues in the recent corporate governance discussion. While agencytheoreticarguments advocate a separation of decision and control functions, the empiricalevidence focusing on U.S....

This paper investigates the determinants of Swiss non-financial firms’ cash holdings overthe 1995 to 2004 period. The median Swiss firm holds almost twice as much cash andcash equivalents as the median UK or US firm. Our results indicate that there is a negativerelationship between asset...

Public security is an essential precondition for personal freedom, civil liberties, and the functioning ofpolitical institutions in a market economy. The protection against infringements from third partiesagainst life and limb is an important human need.1 Whether people feel secure or insecure...

This paper analyzes forward-looking monetary policy rules in structural VAR’s. First, an approach for modeling a monetary policy which aims at a strict medium term inflation or output growth target is developed. Second, the ex ante inflation-output-growth volatility trade-off for a...

This paper analyzes forward-looking rules for Swiss monetary policy in a small structural VAR model consisting of four variables taking into account data revisions for GDP. First, the paper develops an analytical method to analyze the effect of data revision errors in GDP on the ex ante or...

... Die vorliegende Untersuchung gliedert sich in 6 Kapitel. Nach der Einleitung in diesem Kapitel liefertKapitel 2 einige Grundlagen für die Untersuchung von organisatorischen Innovationen, an der sich die weitereAnalyse orientiert.Um die Diffusion einer spezifischen Innovation analysieren zu...

Die Schweizer Staatsquote steigt seit den 90er Jahren stark an. Der Wirtschaftstheorie folgend sollte sich derStaat jedoch auf seine Kernaktivitäten beschränken, um ein optimales Wirtschaftswachstum zu ermöglichen.Die vorliegende Arbeit untersucht die Höhe und die Entwicklung der grössten...