http://repub.eur.nl/res/aut/5182/ List of Publications en http://repub.eur.nl/static-eur/img/logo.png http://repub.eur.nl http://repub.eur.nl/res/pub/15640/ 2005-03-01T00:00:00Z Most financial models are, directly or indirectly, based on information provided by the very firms that are being modelled. This is self-evident when items from financial statements are used in models, as is commonly done. But also stock prices, that are determined by buyers and sellers, are to a large extent based on information from the traded firms. Even scenarios of future expected returns and the volatility of those returns are modelled after the prospects that firms see for themselves and the patterns that emerge from firms' histories. The information generated by the corporate sector is processed by a whole industry, ranging from rating agencies and financial analysts to the financial press. Ultimately, the information finds its way into investment decisions and into our models. http://repub.eur.nl/res/pub/15659/ 2001-10-16T00:00:00Z For a profession as young as financial modelling, the prospects at the turn of the millennium are exciting. We are in a new and rapidly developing area of research. The vast majority of the theoretical insights that we try to model date from the last few decades. Many of the algorithms and electronic aids we use are of similar or even more recent date. Most of the problems we try to solve with our modelling arose with the advent of the complex and interrelated societies that we live in today. In many ways we have only just begun. http://repub.eur.nl/res/pub/6027/ 1996-08-23T00:00:00Z In this paper, we present a new model to analyze the risk and the expected level of firm performance. This model is based on the multi-factor approach to risk, in which unexpected performance is explained through sensitivities to unexpected changes of risk factors. Instead of using the multi-factor approach for the analysis of security portfolios, it is used to analyze performance measures of firms. In this paper the multi-factor approach is not only used to analyze risk, but also to analyze the expected level of performance. Furthermore, it is analyzed how instruments, as for instance projects, can be used to change the risk and the expected level of performance. An illustrative application in the field of finance is presented, although the model can also be applied in other areas. http://repub.eur.nl/res/pub/6024/ 1995-01-01T00:00:00Z http://repub.eur.nl/res/pub/10712/ 1993-01-01T00:00:00Z In the multi-factor method unexpected performance changes are explained by sensitivities for unexpected changes of risk factors. In this paper, the following concepts used in the multi-factor method are defined: unexpected performance, risk factor, sensitivity and instruments. Furthermore, the relation between these concepts is investigated. Special attention is given to the way in which various instruments affect the sensitivity and the probability density function of unexpected performance. http://repub.eur.nl/res/pub/9267/ 1984-01-01T00:00:00Z Retailers have to deal with a fluctuating demand for labor. The use of part-time employees is one of their instruments to cope with these fluctuations. This article gives theoretical considerations regarding the use of part-time labor in the retail trade and empirical evidence regarding the influence of its use on labor productivity.