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Economic integration and mature portfolios

Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - Center for Financial Studies - 2008

internationally comparable, household-level data. With greater integration of asset and labor markets and policies, households of … potential for further integration. …

Persistent link: https://www.econbiz.de/10010958804

Trust, sociability and stock market participation

Georgarakos, Dimitris; Pasini, Giacomo - Center for Financial Studies - 2009

We investigate the effects of both trust and sociability for stock market participation, the role of which has been …, Ageing and Retirement in Europe supplemented with regional information on generalized trust from the World Value Survey and … on specific trust to financial institutions from Eurobarometer. We show that trust and sociability have distinct and …

Persistent link: https://www.econbiz.de/10010958583

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 … process. In a prediction game that is strategically equivalent to the trust game, the amount sent by first-movers was …

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

Trusting the stock market

Haliassos, Michael; Reiter, Michael - Center for Financial Studies - 2005

We provide a new explanation to the limited stock market participation puzzle. In deciding whether to buy stocks, investors factor in the risk of being cheated. The perception of this risk is a function not only of the objective characteristics of the stock, but also of the subjective...

Persistent link: https://www.econbiz.de/10010958761

Trusting the Stock Market

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - Center for Financial Studies - 2005

Persistent link: https://www.econbiz.de/10005176434

Mergers and acquisitions in Germany : social-setting and regulatory framework

Schmid, Frank A. (contributor); Wahrenburg, Mark (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001817426

Does patience pay? Empirical testing of the option to delay accepting a tender offer in the US banking sector

Campbell, Rachel A.; Kräussl, Roman - Center for Financial Studies - 2006

We examine the empirical predictions of a real option-pricing model using a large sample of data on mergers and acquisitions in the U.S. banking sector. We provide estimates for the option value that the target bank has in waiting for a higher bid instead of accepting an initial tender offer. We...

Persistent link: https://www.econbiz.de/10010986471

Mergers and acquisitions in Germany: Social-setting and regulatory framework

Schmid, Frank A.; Wahrenburg, Mark - Center for Financial Studies - 2003

The paper describes the legal and economic environment of mergers and acquisitions in Germany and explores barriers to obtaining and executing corporate control. Various cases are used to demonstrate that resistance by different stakeholders including minority shareholders, organized labour and...

Persistent link: https://www.econbiz.de/10010958516

Is rated debt arm's length? Evidence from mergers and acquisitions

Gropp, Reint; Hirsch, Christian; Krahnen, Jan Pieter - Center for Financial Studies - 2011

In this paper we challenge the view that corporate bonds are always arm's length debt. We analyze the effect of bond ratings on the stock price return to acquirers in M&A transactions, which tend to have significant effects on creditor wealth. We find acquirers abnormal returns to be higher if...

Persistent link: https://www.econbiz.de/10010958748

The economic impact of merger control legislation

Carletti, Elena; Hartmann, Philipp; Onega, Steven - Center for Financial Studies - 2007

Based on a unique dataset of legislative changes in industrial countries, we identify events that strengthen the competition control of mergers and acquisitions, analyze their impact on banks and non-financial firms and explain the different reactions observed with specific regulatory...

Persistent link: https://www.econbiz.de/10010958783