Showing 1 - 10 of 43
We contrast the features of the German corporate governance system with those of other systems and discuss the recent regulatory initiatives.For example, the rules on insider trading and anti-trust have been strengthened.The Restructuring Act has been revised to prevent minority shareholders...
Persistent link: https://www.econbiz.de/10011090720
The paper examines the payout policy of UK firms listed on the London Stock Exchange during the 1990s.We complement the existing payout literature studies by analyzing jointly the trends in dividends and share repurchases.Unlike in the US, we find that, in the UK, firms do not demonstrate a...
Persistent link: https://www.econbiz.de/10011092560
This study has analysed the share price reactions to changes in top management.A distinction was made among different types of CEO turnover: forced resignation, voluntary departures and age-related retirements.The announcement of a forced CEO resignation is hailed favourably by the market with a...
Persistent link: https://www.econbiz.de/10011092880
How do banks react to increased interbank competition?Recent banking theory offers conflicting predictions about the … impact of competition on bank orientation í L H WKH choice of relationship based versus transactional banking í DQG EDQN … LQGXVWU\ specialization.We empirically investigate the impact of interbank competition on bank branch orientation and …
Persistent link: https://www.econbiz.de/10011090384
Abstract: This paper documents large cross-country variation in the relationship between bank competition and bank … in competition will have a larger impact on banks’ fragility in countries with stricter activity restrictions, lower …
Persistent link: https://www.econbiz.de/10011090475
Persistent link: https://www.econbiz.de/10011090521
It is shown that asymmetry in R&D efficiency between firms is an important factor determining feasibility of the preemption and attrition scenarios in competitive R&D with time to build. Scenarios of attrition and preemption games are most likely to occur when competitors have similar R&D...
Persistent link: https://www.econbiz.de/10011090575
This paper examines the relationship between competition, innovation and productivity for the Netherlands. We use … industry level. We find strong evidence for a positive impact of competition on Total Factor Productivity (TFP) at the industry … level. Competition directly increases TFP by reducing X-ineficiencies and removing inefficient forms from markets, but also …
Persistent link: https://www.econbiz.de/10011090737
.We investigate theoretically and empirically how bank organization shapes banking competition.Our theoretical model illustrates how a …
Persistent link: https://www.econbiz.de/10011090754
Persistent link: https://www.econbiz.de/10011090772