The long-lasting controversy on the usefulness of cost-averaging as an investment strategy is revived by the increasingly more aggressive marketing for long term saving plans with new intensity. Albrecht et al. (2002) illustrated using a shortfall risk based approach that cost-averaging may be an efficient strategy compared to simple buy-and-hold-strategies. The contribution of this paper is a ...

We develop a tractable two-country overlapping-generations model and show that cross-country differences in financial development can explain three recent empirical patterns of international capital flows: Financial capital flows from relatively poor to relatively rich countries, while foreign direct investment flows in the opposite direction; net capital flows go from poor to rich countries; d...

Since Target Date Funds (TDFs) became one of the default investment strategies for the 401(k) defined contribution (DC) beneficiaries, they have developed rapidly. Usually they are structured according to the principle “young people should invest more in equities”. Is this really a good recommendation for DC beneficiaries to manage their investment risk? The present paper relies on dynamic asse...

In Switzerland, the federal authorities, the cantons, and the communes share the responsibility of healthcare, disease prevention and health promotion policies. Yet, the cantons are in most health matters independent in their decisions, thus defining as a matter of fact their own health priorities. We examined and analysed the content of the disease prevention and health promotion plans elabora...

Developing countries are an under researched area in terms of their IT investment decision making. In particular, Jordan as a country is one of the areas where no interpretive case studies have been undertaken to investigate this area of information systems. The banking is one of the largest commercial IT investors in Jordanian economy, therefore it provides a good insight into the IT investmen...

This paper investigates the determinants of public pension plan risk-taking behavior using the percentage of total plan assets invested in the equity markets and the pension asset beta as measures of investment risk. We find that government accounting standards strongly affect public fund investment risk, as higher return assumptions (used to discount pension liabilities) are associated with hi...

When groups receive negative feedback on their progress toward a set goal, they often escalate rather than temper their commitment. To attenuate such escalation, we suggest initiating a self-distancing response (i.e., taking the perspective of a neutral observer) by forming implementation intentionswhen,where, and how toact (i.e.,making if-then plans). Implementation intentions should help grou...

cities need good, participatory and effective policies and plans for development. urban development plans such as comprehensive plan are the most important tool for implementation of policies and plans. the effective implementation of city development plan requires high level documents such as spatial planning; good macro development plans policies, efficient urban management and public partici...