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The Impact of Introducing an Interest Barrier: Evidence from the German Corporation Tax Reform 2008
Buslei, Hermann; Simmler, Martin - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012
' capital structure, investment and profitability. The identification of the causal effects is based on the escape clauses in …
Persistent link: https://www.econbiz.de/10010552491
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Exports, International Investment, and Plant Performance: Evidence from a Non-Parametric Test
Girma, Sourafel; Görg, Holger; Strobl, Eric - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2003
This paper compares the performance of purely domestic plants, domestic exporters and domestic multinationals. For our empirical analysis we utilise a non-parametric approach based on the principle of first order stochastic dominance. We find that the distributions for multinationals dominate...
Persistent link: https://www.econbiz.de/10005068656
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The Effects of Short-Term Liabilities on Profitability: The Case of Germany
Baum, Christopher F.; Schäfer, Dorothea; Talavera, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
-term liabilities. We develop a structural model of a firm's value maximization problem that predicts that profitability of the firm …
Persistent link: https://www.econbiz.de/10005068970
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Equity Markets, Financial Integration and Competitive Convergence
Chen, Gongyu; Higson, Chris; Holly, Sean; Petrella, Ivan - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
the process of competitive convergence in profitability of listed companies in 7 countries of the European Union. We cast … observe convergence in profitability through time. The second question is whether there are national differences in the extent … whether there is evidence that convergence in profitability has become more rapid, by which we mean above average or below …
Persistent link: https://www.econbiz.de/10010661279
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Equity Markets, Financial Integration and Competitive Convergence
Chen, Gongyu; Higson, Chris; Holly, Sean; Petrella, Ivan - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
the process of competitive convergence in profitability of listed companies in 7 countries of the European Union. We cast … observe convergence in profitability through time. The second question is whether there are national differences in the extent … whether there is evidence that convergence in profitability has become more rapid, by which we mean above average or below …
Persistent link: https://www.econbiz.de/10010783948
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How Stable Are Monetary Models of the Dollar-Euro Exchange Rate?: A Time-Varying Coefficient Approach
Beckmann, Joscha; Belke, Ansgar; Kühl, Michael - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
This paper examines the significance of different fundamental regimes by applying various monetary models of the exchange rate to one of the politically most important exchange rates, the exchange rate of the US dollar vis-à-vis the euro (the DM). We use monthly data from 1975:01 to 2007:12....
Persistent link: https://www.econbiz.de/10008596278
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On the Linkages between Stock Prices and Exchange Rates: Evidence from the Banking Crisis of 2007-2010
Caporale, Guglielmo Maria; Hunter, John; Ali, Faek Menla - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
This study examines the nature of the linkages between stock market prices and exchange rates in six advanced economies, namely the US, the UK, Canada, Japan, the euro area, and Switzerland, using data on the banking crisis between 2007 and 2010. Bivariate GARCH-BEKK models are estimated...
Persistent link: https://www.econbiz.de/10010635677
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The Scapegoat Theory of Exchange Rates: The First Tests
Fratzscher, Marcel; Sarno, Lucio; Zinna, Gabriele - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
This paper provides an empirical test of the scapegoat theory of exchange rates (Bacchetta and van Wincoop 2004, 2011). This theory suggests that market participants may at times attach significantly more weight to individual economic fundamentals to rationalize the pricing of currencies, which...
Persistent link: https://www.econbiz.de/10010643156
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The Polish Zloty and Currency Speculation
Fic, Tatiana - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2002
This paper uses Markov switching models to study short-run movements of the Polish zloty and speculative phenomena in Poland, that is, to investigate whether the exchange rate is "contaminated" by a speculative bubble. The zloty movements are examined in terms of so-called long swings - periods...
Persistent link: https://www.econbiz.de/10004963691
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Does the Nominal Exchange Rate Regime Affect the Long Run Properties of Real Exchange Rates?
Dreger, Christian; Girardin, Eric - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007
This paper examines whether the behaviour of the real exchange rate is associated with a particular regime for the nominal exchange rate, like fixed and flexible exchange rate arrangements. The analysis is based on 16 annual real exchange rates and covers a long time span, 1870-2006. Four...
Persistent link: https://www.econbiz.de/10004963762