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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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Are Airlines' Price-Setting Strategies Different?
Bilotkach, Volodymyr; Gorodnichenko, Yuriy; Talavera, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
Using a sample of fare quotes for non-stop travel from New York to London, this paper investigates the dynamics of offered fares as the departure date nears. We find that the general trend is toward fare increase at an accelerated rate as the departure date approaches. Clear differences in...
Persistent link: https://www.econbiz.de/10005018672
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Endogenous Costs and Price-Cost Margins
Neven, Damien J.; Röller, Lars-Hendrik; Zhang, Zhentang - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2002
Empirical work on price-cost margins often treats costs as exogenous. Allowing for endogenous costs when estimating price-cost margins is the topic of this paper. Methodologically, the endogenous cost model we propose leads to an additional equation that allows for the simultaneity in price...
Persistent link: https://www.econbiz.de/10004963892
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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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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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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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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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Financial Leverage and Corporate Taxation: Evidence from German Corporate Tax Return Data
Dwenger, Nadja; Steiner, Viktor - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
We estimate the impact of effective profit taxation on the financial leverage of corporations on the basis of a pseudo-panel constructed from corporate tax return micro data for the period 1998-2001, a period which saw the introduction of a major corporate tax reform in Germany. The financial...
Persistent link: https://www.econbiz.de/10005068732
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Bank Market Structure and Firm Capital Structure
Baert, Lieven; Vennet, Rudi Vander - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008
We explore the impact of concentration in the banking markets on the capital structure of publicly quoted non-financial firms in the EU15 over the period 1997- 2005, an era marked by intensive merger activity in the banking sector. Our main finding is a negative and significant relationship...
Persistent link: https://www.econbiz.de/10010896118
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Bank Ownership, Firm Value and Firm Capital Structure in Europe
Baert, Lieven; Vennet, Rudi Vander - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
We investigate whether or not banks play a positive role in the ownership structure of European listed firms. We distinguish between banks and other institutional investors as shareholders and examine empirically the relationship between financial institution ownership and the performance of the...
Persistent link: https://www.econbiz.de/10010896122