(Working Papers SES ; 524)
This paper examines how investors perceive business group membership in Korea during the COVID-19 pandemic. Stock price performance analysis reveals evidence of a time-varying and heterogeneous value of affiliation: investors discount business group affiliation during a market collapse, but are willing to pay a premium for affiliation during market recovery. Overall, this pattern is more...
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(IR-Papers ; 4)
Die Beteiligung von öffentlich-rechtlich anerkannten Kirchen in Abstimmungskämpfen hat in neuerer Zeit Diskussionen ausgelöst, insbesondere im Zusammenhang mit der Konzernverantwortungsiniaitive im Herbst 2020. Der vorliegende Beitrag analysiert die rechtlichen Grundlagen eines solchen Engagements. Dazu wird besonders die Grundfrage untersucht, ob und inwiefern die anerkannten Kirchen an die...
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(IR-Papers ; 3)
In the 19th century, the prohibition of religious weddings prior to state marriages had the objective of enforcing the right to marriage and preventing discriminatory practices, particularly those of the Catholic Church. While this is no longer pertinent, mandatory civil marriage has a new raison d'être in today's age of migration. The state thereby requires and ensures that marriages in...
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(Working Papers SES ; 523)
The housing wealth-to-income ratio has been increasing in most developed economies since the 1950s. We provide a novel theory to explain this long-term pattern. We show analytically that house prices grow in the steady state if i) the housing sector is more land-intensive than the non-housing sector, or ii) technological progress in the construction sector is weaker than in the non-housing...
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(CSIS-Papers ; 2)
La radicalizzazione legata all'islam è una delle principali fonti di preoccupazione sia per le autorità che per i membri della società civile, musulmani e non. Come sottolinea la Rete integrata Svizzera per la sicurezza, le misure di prevenzione non possono essere ridotte a disposizioni giudiziarie o penali, ma devono includere il lavoro di altri tipi di attori, come ad esempio le associazioni...
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(CSIS-Papers ; 5)
I workshop sul tema dei media e dell’opinione pubblica si sono concentrati su un tema delicato del progetto « Le organizzazioni musulmane come attrici sociali ». L’islam non è di per sé un caso particolare, ma un soggetto della società come molti altri. Nell’adempiere i loro obblighi di informazione, i media riportano notizie relative all’islam come fanno per altri argomenti. Ma le...
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(Working Papers SES ; 522)
We conduct a field experiment with remote workers to assess potential adverse effects of monitoring. We find that monitoring reduces the average performance of workers, in particular among the intrinsically motivated workforce. Moreover, monitoring cultivates the average worker: There are fewer high performers and the variance in performance is significantly reduced. Importantly, we show that...
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(Working Papers SES ; 521)
Causal estimation of the short-term effects of tariff-rate quotas (TRQs) on vegetable producer prices is hampered by the large variety and different growing seasons of vegetables and is therefore rarely performed. We quantify the effects of Swiss seasonal TRQs on domestic producer prices of a variety of vegetables based on a difference-indifferences estimation using a novel dataset of weekly...
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(Working Papers SES ; 520)
This paper investigates the impact of the COVID-19 pandemic on the trading behavior of investors around ex-dividend dates in Europe. The sudden decrease in the number of companies paying dividends reduced the opportunities to capture dividends. The firms that have maintained dividend payments during the pandemic thus attracted more interest than before. This led to a doubling in the magnitude...
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