This paper examines the determinants of stock returns in a small open economy using an APT framework. The analysis is conducted for the Swiss stock market which has the particularity of including a large proportion of firms that are exposed to foreign economic conditions. Both a statistical and a macroeconomic implementation of the model are performed for the period 1986-2002 with monthly retur...

We describe a dynamic model of financial intermediation in which fundamental characteristics of the economy imply a unique equilibrium path of bank and financial market lending. Yet we also show that economies whose fundamental characteristics have converged may continue to have very different financial structures. Because setting up financial markets is costly in our model, economies that emph...

Indian organisations have transformed organisational learning to face multiple challenges posed by external market conditions, legal and regulatory considerations and internal factors. The way Indian organisations have developed their learning platforms and learning delivery has been instrumental in equipping a global workforce with the required knowledge and skills. This has, in turn, reduced ...

Most of the research on transaction costs in the market microstructure literature focuses on implicit transaction costs. Research on the design of price schedules for explicit transaction fees is rare. This paper analyzes and classifies different price schedules and discusses their application to the market transaction business. The discussion highlights design issues and the need for a structu...

A fundamental assumption in this article is that not only the public administration but also semiprivate and private agencies provide electronic intermediaries between public services and citizens in a quasi-market situation. The theoretical framework of this study views markets as constructed in contrast to natural phenomena. In these processes of construction the role of technologies such as ...

BACKGROUND Recent policies attempting to reduce adverse effects of methylmercury exposure from fish consumption in the United States have targeted reductions in anthropogenic emissions from U.S. sources. OBJECTIVES To analyze the prospects for future North American and international emissions controls, we assessed the potential contributions of anthropogenic, historical, and natural mercury t...

Upeneus lombok n. sp. is described from two specimens collected off Lombok, Indonesia, at depths of 54-76 m, and one subadult specimen from the local fish market at Tanjung Luar, Lombok. Four specimens of U. asymmetricus were collected at the same fish market representing the first record of the species since its description from two Philippine Islands in 1954. These two species are compared in...

The increased in number and size of larvae and juvenile growth are estimated based on manual approach in fishing hatcheries. There is a high demand for computer assisted software solution for aquaculture research in early detection and recognition of fish population. There exist several companies who have introduced fish detection technologies into the market. Although able to count the number ...