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Université de Fribourg

The Customer Experience Ecosystem in Two Cultural Contexts

Barari, Mojtaba ; Furrer, Olivier

In: Journal of Financial Services Marketing, 2018, vol. 23, p. 234-243

This study focuses on the development of a customer experience ecosystem during a journey which is embedded in meso- and macro-layers. Using the critical incident technique, the author collected in-depth interview data from bank customers in Switzerland and Iran to empirically study this ecosystem, including customer– company interaction in the micro-layer and social context of the...

Università della Svizzera italiana

Essays on financial markets predictability

Pisati, Matteo Maria ; Barone Adesi, Giovanni (Dir.) ; Mira, Antonietta (Codir.)

Thèse de doctorat : Università della Svizzera italiana, 2020 ; 2020ECO007.

Empirical indicators of sentiment are commonly employed in the economic literature while a precise understanding of what is sentiment is still missing. Exploring the links among the most popular proxies of sentiment, fear and uncertainty this paper aims to fill this gap. We show how fear and sentiment are specular in their predictive power in relation to the aggregate market and to...

Université de Fribourg

Perceived Attractiveness of Structured Financial Products : The Role of Presentation Format and Reference Instruments

Anic, Vladimir ; Wallmeier, Martin

In: Journal of Behavioral Finance, 2020, vol. 21, no. 1, p. 78-102

Structured equity-linked products hold a strong position in the asset universe in Europe although they are often considered to be overly complex. Their risk and return profi le is typically presented by simple payoff diagrams and verbal descriptions. We propose to complement the payoff diagrams with information on the payoff's probability distribution and study different presentation formats...

Università della Svizzera italiana

Monetary policy and interest rate products

Zurowski, Wojciech ; Schneider, Paul (Dir.)

Thèse de doctorat : Università della Svizzera italiana, 2019 ; 20019ECO002.

My PhD thesis consists of three papers which study how interest rate products' prices react to both the central bank's policy goals and communication. As tool I make use of various econometric techniques such as affine models, general method of moments or Haar like filtering. The first chapter studies government bond excess term premia. I show that their predictability is driven by monetary...

Université de Fribourg

Treatment evaluation in the presence of sample selection

Huber, Martin

In: Econometric reviews, 2014, vol. 33, no. 8, p. 869-905

Sample selection and attrition are inherent in a range of treatment evaluation problems such as the estimation of the returns to schooling or training. Conventional estimators tackling selection bias typically rely on restrictive functional form assumptions that are unlikely to hold in reality. This paper shows identification of average and quantile treatment effects in the presence of the...

Université de Fribourg

Returns to farm child labor in Tanzania

André, Pierre ; Delesalle, Esther ; Dumas, Christelle

(Working Papers SES ; 502)

In developing countries, the opportunity costs of children’s time can significantly hinder universal education. This paper studies one of these opportunity costs: we estimate the agricultural productivity of children aged 10 to 15 years old using the LSMS-ISA panel survey in Tanzania. Since child labor can be endogenous, we exploit the panel structure of the data and instrument child labor...

Haute école de gestion de Genève

Investing in Asian frontier markets : is the risk worth the return?

Marchon, Cindy ; Ruiz, Frédéric (Dir.)

Mémoire de bachelor : Haute école de gestion de Genève, 2018 ; TDIBM 40.

Frontier markets are gaining in popularity in the investment world, as they present the advantage of high returns with potentially diminishing risks in the future and attractive correlation characteristics as globalization unfolds. As the growth of China has slowed down in the past few years, Asian frontier markets are the countries investors turn to expecting rapid economic growth. However,...

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...