Working papers SES

Working papers SES

La collection des Working Papers SES est une série de cahiers de recherche présentant les différents travaux menés au sein de la Faculté des sciences économiques et sociales de l'Université de Fribourg (Suisse). Cette collection existe depuis 1980 et les thèmes abordés reflètent les différentes orientations scientifiques des membres de la Faculté: économie politique, gestion d'entreprise, informatique de gestion, méthodes quantitatives, sciences sociales et sciences des médias et de la communication. Le contenu de ces travaux n'engage que la responsabilité de leurs auteurs.

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Université de Fribourg

Family firms and financial analyst activity

Eugster, Nicolas

(Working Papers SES ; 491)

This paper examines the relationship between ownership structure, analyst coverage, and forecast error for the entire population of non-financial companies listed on the Swiss Exchange for the period 2003-2013. The results show a negative association between concentrated ownership and analyst coverage for both family firms and firms held by a nonfamily blockholder. Furthermore, forecasts of...

Université de Fribourg

Finanzierungsmix und Effizienz in spendensammelnden Organisationen

Gmür, Markus

(Working Papers SES ; 440)

Spenden sammelnde Organisationen besitzen beträchtliche und in der Praxis eher unterschätzte Freiheitsgrade in der Bestimmung ihres Finanzierungsmix. Der Beitrag erläutert im ersten Schritt sieben verschiedene Kalküle, die bei der Festlegung des angestrebten Mix aus privaten Spenden, öffentlichen Beiträgen und Leistungsentgelten eine Rolle spielen können. Im zweiten Teil wird auf Basis...

Université de Fribourg

The finite sample performance of inference methods for propensity score matching and weighting estimators

Bodory, Hugo ; Huber, Martin ; Camponovo, Lorenzo ; Lechner, Michael

(Working Papers SES ; 466)

This paper investigates the finite sample properties of a range of inference methods for propensity score-based matching and weighting estimators frequently applied to evaluate the average treatment effect on the treated. We analyse both asymptotic approximations and bootstrap methods for computing variances and confidence intervals in our simulation design, which is based on large scale labor...

Université de Fribourg

The finite sample performance of semi- and nonparametric estimators for treatment effects and policy evaluation

Frölich, Markus ; Huber, Martin ; Wiesenfarth, Manuel

(Working Papers SES ; 454)

This paper investigates the fi nite sample performance of a comprehensive set of semi- and nonparametric estimators for treatment and policy evaluation. In contrast to previous simulation studies which mostly considered semiparametric approaches relying on parametric propensity score estimation, we also consider more fl exible approaches based on semi- or nonparametric propensity scores,...

Université de Fribourg

Founding family ownership, stock market returns, and agency problems

Eugster, Nicolas ; Isakov, Dušan

(Working Papers SES ; 490 (revised))

This paper explores the relationship between founding family ownership and stock market returns. Using the entire population of non-financial firms listed on the Swiss stock market for 2003–2013, we find that the stock returns of family firms are significantly higher than those of non-family firms after adjusting the returns for different firm characteristics and risk factors. Family firms...

Université de Fribourg

Founding family ownership, stock market returns, and agency problems

Eugster, Nicolas ; Isakov, Dušan

(Working Papers SES ; 490)

This paper explores the relationship between founding family ownership and stock market returns. Using the entire population of non-financial firms listed on the Swiss stock market for 2003–2013, we find that the stock returns of family firms are significantly higher than those of non-family firms after adjusting the returns for different risk factors and firm characteristics. Family firms...

Université de Fribourg

A framework for innovative service design

Furrer, Olivier ; Sudharshan, Devanathan ; Tsiotsou, Rodoula H. ; Liu, Ben S.

(Working Papers SES ; 476)

Drawing on research from design science, marketing and service science, our paper provides an integrated framework for evaluating and directing innovative service design. The main goal of our review is to highlight the strengths of existing frameworks and to suggest how they can be enhanced in combination with design science principles. Based on our review, we propose a new framework for the...

Université de Fribourg

A framework for separating individual treatment effects from spillover, interaction, and general equilibrium effects

Huber, Martin ; Steinmayr, Andreas

(Working Papers SES ; 481)

This paper suggests a causal framework for disentangling individual level treatment effects and interference effects, i.e., general equilibrium, spillover, or interaction effects related to treatment distribution. Thus, the framework allows for a relaxation of the Stable Unit Treatment Value Assumption (SUTVA), which assumes away any form of treatment-dependent interference between study...

Université de Fribourg

Gender differences in wage expectations

Fernandes, Ana ; Huber, Martin ; Vaccaro, Giannina

(Working Papers SES ; 516)

Using a survey on wage expectations among students at two Swiss institutions of higher education, we examine the wage expectations of our respondents along two main lines. First, we investigate the rationality of wage expectations by comparing average expected wages from our sample with those of similar graduates; we further examine how our respondents revise their expectations when provided...

Université de Fribourg

Health consequences of sterilizations

La Rupelle, Maëlys de ; Dumas, Christelle

(Working Papers SES ; 503 (revised))

In India, as in many developing countries, female sterilization is the main contraceptive method: 37% of women older than 25 are sterilized. However, no economic study assesses the eect of sterilization, providing guidance on ecient reproductive health policies. We analyze the consequences of sterilization for maternal health, considering the endogeneity of the decision. We exploit that...

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