Similar Search Results

The Effects of Industry-Level Uncertainty on Cash Holdings: The Case of Germany

Baum, Christopher F.; Schäfer, Dorothea; Talavera, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006

This paper investigates the link between the optimal level of non-financial firms' liquid assets and industry-level uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as industry-level uncertainty increases the firm will increase its optimal...

Persistent link: https://www.econbiz.de/10005068997

Outward FDI and Domestic Investment

Herzer, Dierk; Schrooten, Mechthild - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2007

This paper examines the impact of outward foreign direct investment (OFDI) on domestic investment by applying co … of the US, OFDI has positive long-run effects on domestic investment while in the case of Germany the reverse effect is …

Persistent link: https://www.econbiz.de/10004963610

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 … base. In general, in the short term, no negative investment effects are caused by the TCR. This suggests that a part of the …, investment might also be fixed in the short-run for example due to long-lasting contracts. …

Persistent link: https://www.econbiz.de/10010552491

The Private Equity Premium Puzzle Revisited: New Evidence on the Role of Heterogeneous Risk Attitudes

Fossen, Frank M. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2008

The empirical finding that entrepreneurs tend to invest a large share of their wealth in their own firms despite comparably low returns and high risk has become known as the private equity premium puzzle. This paper provides evidence supporting the hypothesis that lower risk aversion of...

Persistent link: https://www.econbiz.de/10005068887

Financial Constraints and Continental Business Groups: Evidence from German Konzerns

Schäfer, Dorothea; Gorodnichenko, Yuriy; Talavera, … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006

sensitivity of investment to cash flow. The main finding is that the reduction in the sensitivity is small for small firms and …

Persistent link: https://www.econbiz.de/10005069012

The Impact of South-South Trade Agreements on FDI

Cherif, Mondher; Dreger, Christian - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2015

The integration of emerging markets into the global economy is heavily promoted by foreign direct investment (FDI …

Persistent link: https://www.econbiz.de/10011203027

Drivers of Private Equity Investment in CEE and Western European Countries

Bernoth, Kerstin; Colavecchio, Roberta; Sass, Magdolna - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010

investigate the macro-determinants of private equity investment in Europe, focusing on the comparison between CEE and Western …

Persistent link: https://www.econbiz.de/10010661266

On the Relationship between Public and Private Investment in the Euro Area

Dreger, Christian; Reimers, Hans-Eggert - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2014

This paper explores the long run relationship between public and private investment in the euro area in terms of … capital stocks and gross investment flows. Panel techniques accounting for international spillovers are employed. While … private and public capital stocks are cointegrated, the evidence is quite fragile for public and private investment flows …

Persistent link: https://www.econbiz.de/10010744674

Flight-to-Liquidity and the Great Recession

Radde, Sören - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2012

This paper argues that counter-cyclical liquidity hoarding by financial intermediaries may strongly amplify business cycles. It develops a dynamic stochastic general equilibrium model in which banks operate subject to financial frictions and idiosyncratic funding liquidity risk in their...

Persistent link: https://www.econbiz.de/10011128868

Search-Based Endogenous Illiquidity and the Macroeconomy

Cui, Wei; Radde, Sören - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2014

We endogenize asset liquidity in a dynamic general equilibrium model with search frictions on asset markets. In the model, asset liquidity is tantamount to the ease of issuance and resaleability of private financial claims, which is driven by investors' participation on the search market....

Persistent link: https://www.econbiz.de/10011128882