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Derivatives usage in risk management by U.S. and German non-financial firms: A comparative survey

Bodnar, Gordon M.; Gebhardt, Günther - Center for Financial Studies - 1998

both size and industry composition. We find that German firms are more likely to use derivatives than US firms, with 78% of … German firms using derivatives compared to 57% of US firms. Aside from this higher overall usage, the general pattern of … derivative usage is most common, followed closely by interest rate derivatives, with commodity derivatives a distant third. Usage …

Persistent link: https://www.econbiz.de/10010986461

Has Europe been catching up? An industry level analysis of venture capital success over 1985 - 2009

Kräussl, Roman; Krause, Stefan - Center for Financial Studies - 2012

After nearly two decades of US leadership during the 1980s and 1990s, are Europe's venture capital (VC) markets in the 2000s finally catching up regarding the provision of financing and successful exits, or is the performance gap as wide as ever? Are we amid an overall VC performance slump with...

Persistent link: https://www.econbiz.de/10010986399

The role of accounting in the German financial system

Leuz, Christian; Wüstemann, Jens - Center for Financial Studies - 2003

This chapter analyzes the role of financial accounting in the German financial system. It starts from the common perception that German accounting is rather uninformative. This characterization is appropriate from the perspective of an arms length or outside investor and when confined to the...

Persistent link: https://www.econbiz.de/10010986429

Credit risk transfers and the macroeconomy

Faia, Ester - Center for Financial Studies - 2010

The recent financial crisis has highlighted the limits of the 'originate to distribute' model of banking, but its nexus with the macroeconomy and monetary policy remains unexplored. I build a DSGE model with banks (along the lines of Holmström and Tirole [28] and Parlour and Plantin [39] and...

Persistent link: https://www.econbiz.de/10010986438

Are particular industries more likely to succeed? A comparative analysis of VC investment in the US and Europe

Kraeussl, Roman; Krause, Stefan - Center for Financial Studies - 2010

The objective of this study is to determine whether specific industries across countries or within countries are more likely to reach a stage of profitability and make a successful exit. In particular, we assess whether firms in certain industries are more prone to exit via IPO, be acquired, or...

Persistent link: https://www.econbiz.de/10010986465

Where do we stand in the theory of finance? A selective overview with reference to Erich Gutenberg

Krahnen, Jan Pieter - Center for Financial Studies - 1998

For the past 20 years, financial markets research has concerned itself with issues related to the evaluation and management of financial securities in efficient capital markets and with issues of management control in incomplete markets. The following selective overview focuses on key aspects of...

Persistent link: https://www.econbiz.de/10010986496

The Role of Accounting in the German Financial System

Leuz, Christian; Wüstemann, Jens - Center for Financial Studies - 2003

This chapter analyzes the role of financial accounting in the German financial system. It starts from the common perception that German accounting is rather "uninformative". This characterization is appropriate from the perspective of an arm’s length or outside investor and when confined to...

Persistent link: https://www.econbiz.de/10005120790

The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007

We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...

Persistent link: https://www.econbiz.de/10010986371

Credit unions and the common bond

Emmons, William R.; Schmid, Frank A. - Center for Financial Studies - 1998

Credit Unions are cooperative financial institutions specializing in the basic financial needs of certain groups of consumers. A distinguishing feature of credit unions is the legal requirement that members share a common bond. This organizing principle recently became the focus of national...

Persistent link: https://www.econbiz.de/10010958643

Trust, trustworthiness and selection into the financial industry

Gill, Andrej; Heinz, Matthias; Schumacher, Heiner - Center for Financial Studies - 2014

We examine trust and trustworthiness of individuals with varying professional preferences and experiences. Our subjects study business and economics in Frankfurt, the financial center of Germany and continental Europe. In the trust game, subjects with a high interest in working in the financial...

Persistent link: https://www.econbiz.de/10010958692