Brexit will lead to a partial migration of financial firms from London to the EU27. This Policy Contribution provides a comparison between London and four major cities that will host most of the new EU27 wholesale market: Frankfurt, Paris, Dublin and Amsterdam. It gives a detailed picture of the wholesale markets, the largest players in these markets and the underlying clearing infrastructure. It also provides data on professional services and innovation.
The newest books by ERIM members:
Although research on business model innovation is flourishing internationally, many important questions on the 'how', 'what', and 'when' of this process remain largely unanswered, particularly in regard to the role of top management. This book answers some of those pressing questions by taking a deliberately managerial perspective.
A Guide to Modern Econometrics, Fifth Edition has become established as a highly successful textbook. It serves as a guide to alternative techniques in econometrics with an emphasis on intuition and the practical implementation of these approaches. This fifth edition builds upon the success of its predecessors. The text has been carefully checked and updated, taking into account recent developments and insights. It includes new material on casual inference, the use and limitation of p-values, instrumental variables estimation and its implementation, regression discontinuity design, standardized coefficients, and the presentation of estimation results.
The Wicked Problems Plaza is an intellectual concept developed by Professor Rob van Tulder of the
Partnerships Resource Centre (PrC) at Rotterdam School of Management (RSM), Erasmus University.
WPP methodologies are at the moment being further fine-tuned, tested and customised in collaboration
with the New World Campus (NWC) in The Hague. The NWC is a hub for entrepreneurs, researchers,
development practitioners and investors who work together on global issues relating to sustainability and
international development. This booklet was written by Rianne van Asperen and Rob van Tulder with input
from Marieke de Wal and Wilma Roozenboom, as well as a large number of participants in Wicked Problems
sessions over the 2015–2016 period. The graphics are designed by Jaimy Hartman; the photos are by
Jaimy Hartman, Chris Gorzeman, Judith Hemerdink and Rianne van Asperen.
The extant body of scholarly work on multinational Enterprises (MNEs) has been hampered by an inevitable selection bias. With the majority of MNEs coming from developed countries, theories of international business have been informed mainly by the study of (large) corporations from countries or regions such as the United States, Europe and later Japan.
Subsequent empirical studies have also regularly suffered from a confirmation bias - the tendency to search inductively for particular information and to interpret such information in a way that confirms existing hypotheses, while giving comparatively less consideration to alternative research avenues. The growing importance in the world economy of ‘emerging economies’, accompanied by the large-scale appearance of MNEs from these countries, has not only widened the empirical basis of research but has also made it increasingly important to augment international business theory.
Our everyday life is dominated by time. In search of a more people-oriented entrepreneurship, the authors take a close look at this phenomenon, beyond the grind of nine to five and the stress of an hourly invoice.
A Framework for Sustainable Finance: From Risk to Opportunity presents the switch from traditional finance to sustainable finance.
While financial institutions have started to avoid unsustainable companies from a risk perspective (Sustainable Finance 1.0 and 2.0), the frontrunners are now increasingly investing in sustainable companies and projects to create long-term value for the wider community (Sustainable Finance 3.0). Major obstacles to sustainable finance are short-termism and insufficient private efforts. To overcome these obstacles, the book develops guidelines for governing sustainable finance.
Integrated capital markets facilitate risk sharing across countries. Lower home bias in financial investments is an indicator of risk sharing. We highlight that existing indicators of equity home bias in the literature suffer from incomplete coverage because they consider only listed equities. We also consider unlisted equites and show that equity home bias is much higher than previous studies perceived. We also analyse home bias in debt securities holdings, and euro area bias. We conclude that European Union membership may foster financial integration and reduce information barriers, which sometimes limit cross-country diversification.
The United Kingdom’s exit from the European Union creates an opportunity for the remaining EU27 to accelerate the development of its financial markets and to increase its resilience against shocks. Equally, Brexit involves risks for market integrity and stability, because the EU including the UK has been crucially dependent on the Bank of England and the UK Financial Conduct Authority for oversight of its wholesale markets. Without the UK, the EU27 must swiftly upgrade its capacity to ensure market integrity and financial stability. Furthermore, losing even partial access to the efficient London financial centre could entail a loss of efficiency for the EU27 economy, especially if financial developments inside the EU27 remain limited and uneven.
This book highlights cutting-edge research in the economics and management of networks as an interdisciplinary field, offering new theoretical, empirical and practical perspectives on the management, governance, ownership and control of cooperatives, franchising networks and strategic alliances. Further, it presents a strategic group perspective on franchisers and discusses both social entrepreneurship issues in franchising and franchising strategies for Indigenous entrepreneurship in Australia. Lastly, it offers a dynamic capabilities approach to alliance portfolio management and analyses the antecedents of the transitions taking place in the lifecycles of alliances.