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A company can go bankrupt if the value of its assets drops below the debt level. This event can happen at any point in time. This is however not taken into account in the plain vanilla option framework of the Merton model. Theoretically, the barrier version of the Merton model shall therefore be...
Persistent link: https://www.econbiz.de/10010358376
Decelerating productivity in recent years raised questions about technology diffusion in the economy. This study focuses on one particular diffusion channel, entrepreneurship, and inspects the mechanics through which it interacts with digitalization. The composite indicator of digitalization is...
Persistent link: https://www.econbiz.de/10011914711
-fits-all regulation is harmful for efficient operations of cooperative banks in Europe. …
Persistent link: https://www.econbiz.de/10011901962
compare them across Europe, covering 13 Central and Eastern European (CEE) and 16 Western European (WE) countries. Five … across Europe. Similarly, fundraising and divestment activity are significant drivers of investments across Europe …
Persistent link: https://www.econbiz.de/10014286833
This paper examines the determinants of private equity activity across Europe. We analyze a total of 43 explanatory …
Persistent link: https://www.econbiz.de/10015069526
This paper examines effects of political ideology of a governing party on fiscal outcomes, using data from eight Central and Eastern European countries in the 2001-2017 period. The analysis shows that there is a statistically significant effect of conservative governments on fiscal variables,...
Persistent link: https://www.econbiz.de/10012133662
The main goal of this paper is to provide an analysis of key regulatory changes in the European merger control and to evaluate their real impact on the efficiency of merger regulation. Our main contribution is an empirical analysis of a unique representative sample of 161 horizontal mergers...
Persistent link: https://www.econbiz.de/10003929605
This paper studies the effect of the euro introduction on international FDI flows. Using country-pair data on 35 OECD economies during 1997-2008 and adopting the propensity score matching as identification strategy, we investigate the impact of the euro on capital reallocation. In general, the...
Persistent link: https://www.econbiz.de/10009234156
Motivated by the changing nature of the natural gas industry in the European Union driven by the liberalization process, we focus on pricing of gas swing options. These options are embedded in typical gas sales agreements in the form of offtake flexibility concerning volume and time. The gas...
Persistent link: https://www.econbiz.de/10009152601
This paper presents a model which focuses on differences between the competition policy of the EU and antitrust of the U.S. It introduces three versions - Neutral, American, and European. Two-stage game model takes the authority’s perspective and describes options and behavior of antitrust...
Persistent link: https://www.econbiz.de/10009408670