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Evaluating Greek Equity Funds Using Data Envelopment Analysis
Babalos, Vassilios; Caporale, Guglielmo Maria; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
conclusion which may be related to the structure of the domestic stock market. Furthermore, we provide evidence against the …
Persistent link: https://www.econbiz.de/10004963857
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Credit Rating Agency Announcements and the Eurozone Sovereign Debt Crisis
Baum, Christopher F.; Karpava, Margarita; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2013
This paper studies the impact of credit rating agency (CRA) announcements on the value of the Euro and the yields of French, Italian, German and Spanish long-term sovereign bonds during the culmination of the Eurozone debt crisis in 2011-2012. The employed GARCH models show that CRA downgrade...
Persistent link: https://www.econbiz.de/10011128878
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Informed Capital in a Hostile Environment: The Case of Relational Investors in Germany
Schäfer, Dorothea; Schilder, Dirk - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2006
Informed capital is a crucial ingredient to a well-functioning market for start-up finance, especially in times of … difficult market conditions. For bank-based systems, the question regarding which investors actually supply informed capital has … Business Angels are the key providers of informed capital in the German market for start-up finance. …
Persistent link: https://www.econbiz.de/10005068684
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Volatility Patterns of CDS, Bond and Stock Markets before and during the Financial Crisis: Evidence from Major Financial Institutions
Belke, Ansgar; Gokus, Christian - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
known shortcomings of credit ratings, the demand for market-based indicators has risen as they can help to assess the …
Persistent link: https://www.econbiz.de/10008855329
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Theoretische Analyse der Gewinnsituation im deutschen Bankensektor: Kreditvergabestrategie sichert Sparkassen und Genossenschaftsbanken Vorteile
Baas, Timo; Schrooten, Mechthild - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2005
Die Rendite von Sparkassen und Genossenschaftsbanken liegt in Deutschland über der von privaten Geschäftsbanken. Das vorliegende Papier bietet einen theoretischen Erklärungsansatz, der diese Renditeunterschiede auf Differenzen in der Kreditvergabestrategie zurückführt. Dieses Modell zeigt,...
Persistent link: https://www.econbiz.de/10005069081
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Terrorism and Capital Markets: The Effects of the Istanbul Bombings
Christofis, Nikos; Kollias, Christos; Papadamou, Stephanos - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
markets. This paper sets out to examine the effect of these attacks on the Turkish Stock Market. It focuses its empirical … investigation on the Istanbul stock-market and the impact that recent major terrorist incidents exerted on market behaviour …
Persistent link: https://www.econbiz.de/10008584369
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Has Stock Markets' Reaction to Terrorist Attacks Changed throughout Time?: Comparative Evidence from a Large and a Small Capitalisation Market
Kollias, Christos; Manou, Efthalia; Papadamou, Stephanos; … - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
exchange - and a small - the Athens stock exchange - capitalization market are used as the vehicles for the empirical … and symbolic significance of the target hit. Market size and maturity also seem to influence the degree of the effects. …
Persistent link: https://www.econbiz.de/10008694990
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Private Equity, Corporate Governance and Out-Performance of High-Growth Firms
Badunenko, Oleg; Karber, Moritz Fabien; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
The paper investigates how Private Equity (PE) ownership influences out-performance of a high-growth firm, and whether it differs from the effect of two other important types of financial investors: banks and non-bank financial firms. We transform the levered return on equity into a unlevered...
Persistent link: https://www.econbiz.de/10011128093
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Are Private Equity Investors Good or Evil?
Badunenko, Oleg; Barasinska, Nataliya; Schäfer, Dorothea - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
The paper investigates the motives of activity (entry and exit) of Private Equity (PE) investors in European companies. Investment of a PE firm is not viewed unambiguously. First, it is claimed that PE investment is made for the sake of seeking shortterm gains by taking control and utilizing the...
Persistent link: https://www.econbiz.de/10011128095
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Bad Bank(s) and Recapitalization of the Banking Sector
Schäfer, Dorothea; Zimmermann, Klaus F. - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
market value - assets with no market would thus be valued at zero. The current shareholders will cover the losses arising … from the depreciation reserve in the amount of the difference of the toxic assets' current book value and their market …
Persistent link: https://www.econbiz.de/10011128096