The literature is divided in its opinion about the impact of concentration of ownership on firmperformance. On the one hand, concentration of ownership that, in turn, concentratesmanagement control in the hands of a strategic investor, eliminates agency problemsassociated with dispersed...

Die Corona-Krise traf die Handwerksunternehmen im Frühjahr 2020 völlig unerwartet und konfrontierte Unternehmerinnen und Unternehmer mit plötzlichen Auftrags- und Umsatzrückgängen und nachhaltiger Verunsicherung. Diese Studie untersucht die Situation von frauengeführten Betrieben im...

On theoretical grounds, monitoring of top executives by the (supervisory) board is expectedto be value relevant. The empirical evidence is ambiguous and we analyze three noncompetingexplanations for this ambiguity: (i) The positive effect on firm value of boardmonitoring is hidden in stock price...

This paper contributes to the literature by introducing the nexus between financial constraints and thecapital-labour uptake and by considering the capital-labour ratio to overcome the problems that haveplagued investment literature -regarding the investment-cash flow sensitivity of constrained...

Examinations on the determinants of profit sharing usually focus on objective firm characteristics. Using data from manufacturing firms in Germany, this study shows that managers' subjective attitudes towards profit sharing also play an important role in the adoption and termination of this...