[Einleitung] Über die Einführung eines Unternehmensstrafrechts wird seit Jahren diskutiert. Unter Rechtswissenschaftlern ist die Einführung eines solchen Gesetzes umstritten - während die einen ein deutsches Strafrecht für Unternehmen für überfällig halten, bezeichnen andere sie als...

The performance of young and newly founded firms depends largely to the human capital of the firm owner. The entrepreneur is therefore one of the main success factors for the firm. Yet entrepreneurs differ considerably in their background and characteristics. Particularly, founders' individual...

In 2011, German legislators passed the latest reform to German Insolvency Law (ESUG). ESUG mandates that creditors of larger firms can exert more influence on the appointment of the insolvency administrator, resulting in a shift of power from shareholders to creditors. Based on...

Today, startups often obtain financing via the Internet through many small contributions of non-sophisticated investors. Yet little is known about whether these startups can ultimately build enduring businesses. In this article, we hand-collected data from 14 different equity crowdfunding (ECF)...

This study assesses the impact of the quality of bankruptcy data on the estimation and evaluation of bankruptcy prediction models. To meet this objective, we develop a systematic methodology to obtain bankruptcy information from corporate news releases and public sources. Then, applying this...

The macroeconomic determinants of banking sector distresses in the Nordic countries, Belgium, Germany, Greece, Spain and the UK are analysed using an econometric model estimated on panel data from partly the early 1980s to 2002.The dependent variable is the ratio of banks' loan losses to...