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Measuring Alpha in the Fund Management Industry: Do Female Managers Perform Better?
Babalos, Vassilis; Caporale, Guglielmo Maria; … - CESifo - 2013
This paper examines the performance of 358 European diversified equity mutual funds controlling for gender differences …. Fund performance is evaluated against funds’ designated market indices and representative style portfolios. Consistently … with previous studies, no significant differences in performance and risk are found between female and male managed funds …
Persistent link: https://www.econbiz.de/10010667412
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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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Payment Choice in International Trade: Theory and Evidence from Cross-country Firm Level Data
Hoefele, Andreas; Schmidt-Eisenlohr, Tim; Yu, Zhihong - CESifo - 2013
When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...
Persistent link: https://www.econbiz.de/10010877930
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The Impact of Basel III on Trade Finance: The Potential Unintended Consequences of the Leverage Ratio
Auboin, Marc; Blengini, Isabella - CESifo - 2014
Trade finance, particularly in the form of short-term letters of credit has received favourable capital treatment new Basel III rules. However, concerns have been expressed over the potential negative “unintended consequences” of the newly created leverage ratio for trade. This paper offers...
Persistent link: https://www.econbiz.de/10010948837
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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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Subprime Crisis and Board (In-)Competence: Private vs. Public Banks in Germany
Hau, Harald; Thum, Marcel - CESifo - 2009
We examine evidence for a systematic underperformance of Germany’s state-owned banks in the current financial crisis and study if the bank losses can be traced to the quality of bank governance. For this purpose, we examine the biographical background of 593 supervisory board members in the 29...
Persistent link: https://www.econbiz.de/10005051557
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Peer Effects in Program Participation
Dahl, Gordon B.; Loken, Katrine Vellesen; Mogstad, Magne - CESifo - 2013
When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...
Persistent link: https://www.econbiz.de/10010682628
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Towards a Theory of Trade Finance
Schmidt-Eisenlohr, Tim - CESifo - 2011
Shipping goods internationally is risky and takes time. To allocate risk and to finance the time gap between production and sale, a range of payment contracts is utilized. I study the optimal choice between these payment contracts considering one shot transactions, repeated transactions and...
Persistent link: https://www.econbiz.de/10008914275
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Growth and Earnings Persistence in Banking Firms: A Dynamic Panel Investigation
Shehzad, Choudhry Tanveer; Haan, Jakob de; Scholtens, Bert - CESifo - 2009
This paper investigates (i) whether growth and profitability persist in banking firms, (ii) whether the level and volatility of growth and profitability are bank-size dependent, and (iii) the relationship between growth and profitability of a bank. Using a dynamic panel model estimated by GMM...
Persistent link: https://www.econbiz.de/10008572506
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A Simple Four Quadrants Model to Monitor the Performance of Local Governments
Ballanti, Danilo; Dispotico, Roberto; Porcelli, Francesco; … - CESifo - 2014
evaluate the performance of local government in the provision of local public services. The model employs a reduced set of …
Persistent link: https://www.econbiz.de/10010960639