Affiliation: | 1. Swiss Institute of Banking and Finance (s/bf), University of St.Gallen, Unterer Graben 21, 9000 St. Gallen, Switzerland;2. Research Associate at the Centre for European Economic Research (ZEW), Mannheim, Germany;3. d-fine GmbH, Opernplatz 2, 60313 Frankfurt am Main, Germany;1. Faculty of Business Administration, Kyoto Sangyo University, Motoyama, Kamigamo, Kita-ku, Kyoto 603–8555, Japan;2. Faculty of Economics, Osaka Sangyo University, Osaka 574–8530, Japan |