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Mitigating Liquidity Constraints: Public Export Credit Guarantees in Germany

Felbermayr, Gabriel J.; Heiland, Inga; Yalcin, Erdal - CESifo - 2012

Reportedly, firms often find it impossible to finance large and long-term projects despite positive net present values. Should governments step in and can their assistance be effective? This paper studies the case of public export credit guarantees in Germany. Covering the default risk of...

Persistent link: https://www.econbiz.de/10010877647

Do Entrepreneurs Matter?

Becker, Sascha O.; Hvide, Hans K. - CESifo - 2013

In the large literature on firm performance, economists have given little attention to entrepreneurs. We use deaths of more than 500 entrepreneurs as a source of exogenous variation, and ask whether this variation can explain shifts in firm performance. Using longitudinal data, we find large and...

Persistent link: https://www.econbiz.de/10010607007

Ownership Concentration and Share Valuation: Evidence from Germany

Edwards, Jeremy; Weichenrieder, Alfons - CESifo - 1999

Concentrated ownership of large listed companies is widespread throughout the world, and Germany is typical in this respect. This paper proposes a method of distinguishing empirically between the beneficial and harmful effects of ownership concentration, and applies it to German data. The...

Persistent link: https://www.econbiz.de/10005406388

Market Effects of Voluntary Climate Action by Firms: Evidence from the Chicago Climate Exchange

Gans, Will; Hintermann, Beat - CESifo - 2011

Why do for-profit firms take voluntary steps to improve the environment? Brand appeal to green consumers or investors, the ability to influence or avoid regulation, or the experience gained for future regulation, have all been suggested as possible reasons. The empirical evidence is decidedly...

Persistent link: https://www.econbiz.de/10009021238

Productivity as if Space Mattered: An Application to Factor Markets Across China

Cheng, Wenya; Morrow, John; Tacharoen, Kitjawat - CESifo - 2013

results quantify the role of regional factor markets in firm productivity and location. Considering modern China as a large …

Persistent link: https://www.econbiz.de/10010877649

Productivity Response to a Contract Change

Jayaraman, Rajshri; Ray, Debraj; Véricourt, Francis de - CESifo - 2014

This paper studies the productivity impact of a contract change for tea pluckers in an Indian plantation. The contract …

Persistent link: https://www.econbiz.de/10010877659

The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered

Bordo, Michael D.; Choudhri, Ehsan U.; Fazio, Giorgio; … - CESifo - 2014

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …

Persistent link: https://www.econbiz.de/10010877817

Firm Performance and Trade with Low-Income Countries: Evidence from China

Schmerer, Hans-Jörg; Wang, Luhang - CESifo - 2014

evidence for sequential sorting into different export-modes according to firm productivity: i) only the most productive firms …

Persistent link: https://www.econbiz.de/10010888447

Employment Protection and the Market for Innovations

Bastgen, Andreas; Holzner, Christian - CESifo - 2015

in order to restore their productivity. To do so we develop an equilibrium matching model with an imperfect labor and … estimated negative impact of wrongful dismissal laws in the US on productivity and the positive effect on the number of …

Persistent link: https://www.econbiz.de/10011210787

Temporary Employment, Job Flows and Productivity: A Tale of two Reforms

Cappellari, Lorenzo; Dell'Aringa, Carlo; Leonardi, Marco - CESifo - 2011

productivity-enhancing effect. The reform of fixed-term contracts instead did not produce the intended results: it induced a … substitution of temporary employees in favour of permanent ones and reduced capital intensity, generating productivity losses. We …

Persistent link: https://www.econbiz.de/10009221556