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Why do Foreign Banks Withdraw from other Countries? A Panel Data Analysis
Hryckiewicz, Aneta; Kowalewski, Oskar - CESifo - 2010
problems in the home country, with a lesser factor being the weak performance of the foreign subsidiary. …
Persistent link: https://www.econbiz.de/10008583673
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Divide and Privatize: Firm Break-up and Performance
Kocenda, Evžen; Hanousek, Jan - CESifo - 2011
We analyze the long-term effects of firm break-up and ownership change on corporate performance. Our analysis is based … found behind later improvements in the performance of firms. …
Persistent link: https://www.econbiz.de/10009024846
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Finance, Control, and Profitability: The Influence of German Banks
Chirinko, Robert S.; Elston, Julie Ann - CESifo - 2003
Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the considerable power of German...
Persistent link: https://www.econbiz.de/10005094259
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Connections and Performance in Bankers' Turnover: Better Wed over the Mixen than over the Moor
Battistin, Erich; Graziano, Clara; Parigi, G. - CESifo - 2008
survival of top executives (Presidents, CEOs and General Managers) to bank performance and the manager’s local connections … expense of the bank’s performance. We find that connections generally increase the probabilities of managerssurviving at their … banks, and that the positive effect of performance on tenure (as amply documented by the executive turnover literature …
Persistent link: https://www.econbiz.de/10005094382
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Determinants of Cross-Border Bank Acquisitions in Transition Economies: A Latent Class Analysis
Poghosyan, Tigran; Haan, Jakob de - CESifo - 2008
We analyze the microeconomic determinants of cross-border bank acquisitions in 16 transition economies over the period 1996-2006. By using a latent class discrete choice model we explicitly incorporate the macroeconomic and institutional heterogeneity of the transition economies into our...
Persistent link: https://www.econbiz.de/10005405973
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Long-Lasting Bank Relationships and Growth of Firms
Gambini, Alessandro; Zazzaro, Alberto - CESifo - 2010
A puzzling but consistent result in the empirical literature on banking is that firms with close bank ties do not grow faster than bank-independent firms. In this paper, we reconsider the link between relationship lending and firms’ growth, distinguishing firms by size and “health”. The...
Persistent link: https://www.econbiz.de/10008583662
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How Do Judgmental Overconfidence and Overoptimism Shape Innovative Activity?
Herz, Holger; Schunk, Daniel; Zehnder, Christian - CESifo - 2013
Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that...
Persistent link: https://www.econbiz.de/10010877694
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The Theory of the Firm Goes Global
Marin, Dalia - CESifo - 2013
What insights can be gained from bringing the theory of the firm to the global economy? I discuss several new features of the world economy that can be explained by incorporating the theory of the firm into the theory of international trade. Among the new features I discuss are the move to...
Persistent link: https://www.econbiz.de/10010877726
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Social Relations and Relational Incentives
Dur, Robert; Tichem, Jan - CESifo - 2012
This paper studies how social relationships between managers and employees affect relational incentive contracts. To this end we develop a simple dynamic principal-agent model where both players may have feelings of altruism or spite toward each other. The contract may contain two types of...
Persistent link: https://www.econbiz.de/10010877789
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Organizations, Diffused Pivotality and Immoral Outcomes
Falk, Armin; Szech, Nora - CESifo - 2013
This paper studies how organizational design affects moral outcomes. Subjects face the decision to either kill mice for money or to save mice. We compare a Baseline treatment where subjects are fully pivotal to a Diffused-Pivotality treatment where subjects simultaneously choose in groups of...
Persistent link: https://www.econbiz.de/10010877864