This paper develops an analytical approximation for the distribution function of a terminal value of a periodic series of buy-and-hold investments placed over a fixed time horizon for the case when log-returns of assets follow a p-th order vector auto-regressive process. The results indicate a remarkably good fit between the approximating procedure and simulations based on realistic parameters.
COBISS.SI-ID: 19878630
Using detailed micro-data we investigate the bidirectional causal relationship between firm innovation and export activity. We find no evidence for the hypothesis that either product or process innovations increase the probability of becoming a first-time exporter, but we do find evidence in both the innovation survey and the industrial production survey that exporting leads to productivity improvements. These, however, are likely to be related to process rather than product innovations, and are observed only in a sample of medium and large first-time exporters.
COBISS.SI-ID: 1556878
Monograph deals with the system of funding of the tertiary education, division of costs among different holders, equity of the public funding and its economic efficiency, as well as with the proposals for the change of the existing situation. Within the monograph we linked together more than 10 years of research of particular economic views of tertiary education in Slovenia, updated it, and additionally deepen the research especially on the equity of public funding.
COBISS.SI-ID: 250330880
In the article we model R&D as a major endogenous growth element in a small open economy general equilibrium framework and consider several R&D policy scenarios for Slovenia. Increase of the share of sector investment in R&D that is deductible from the corporate income tax and increase of government spending on R&D turned out to be the most effective suggested policy measures. The households that would gain more utility from such policy scenarios are those with more skilled and highly skilled labour, but not the very top earners in the economy
COBISS.SI-ID: 1608334
This paper examines the importance of reference values for executive compensation contracts. We find out that standard bargaining theory, where compensations are defined with external options of bargaining clients and their bargaining power, cannot explain the dynamics of executive compensation. Principles regarding the determination of compensation, adopted by the executives/supervisors, influence the growth of executive compensation, which can be explained only with the reference values.
COBISS.SI-ID: 19510758