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The contribution of intangible assets to sectoral productivity growth in the EU

Niebel, Thomas; O'Mahony, Mary; Saam, Marianne - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2013

In this paper we report on new data on intangible investment at the level of 1-digit NACE industries of 10 EU countries. The data are constructed as a sectoral breakdown of the INTANInvest database, which contains measures of intangible investment at the level of the aggregate business sector....

Persistent link: https://www.econbiz.de/10010957586

Intangible assets and investments at the sector level: Empirical evidence for Germany

Crass, Dirk; Licht, Georg; Peters, Bettina - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

This paper investigates the role intangible capital plays for economic growth in different sectors in Germany. It consists of two major parts. In the first part, we aim at measuring investment in intangibles at the sector level. We shed light on differences across sectors but also compare these...

Persistent link: https://www.econbiz.de/10010957714

Effective tax rates under IP tax planning

Evers, Lisa; Spengel, Christoph - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

Tax planning with intangibles has become one of the most popular and most vividly debated topics in international taxation. We incorporate various intellectual property (IP) tax planning models into forward-looking measures of effective tax rates, namely the disposal of intangibles to low-tax...

Persistent link: https://www.econbiz.de/10011104993

Dynamics in ownership and firm survival: evidence from corporate Germany

Heiss, Florian; Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...

Persistent link: https://www.econbiz.de/10005097846

Are Credit Ratings Valuable Information?

Kraft, Kornelius; Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2004

Credit ratings are commonly used by lenders to assess the default risk, because every credit is connected with a possible loss. If the probability of a default is above a certain threshold, a credit will not be provided. The purpose of this paper is to test whether credit ratings contribute...

Persistent link: https://www.econbiz.de/10005098245

Do private equity owners increase risk of financial distress and bankruptcy?

Tykvová, Tereza; Borell, Mariela - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2011

-backed companies do not suffer from higher bankruptcy rates than non-buyout companies. In fact, when companies are backed by … experienced private equity funds, their bankruptcy rates are even lower. Experienced investors seem to be better able to manage …

Persistent link: https://www.econbiz.de/10009646600

Business closure and financial loss: Who foots the bill? Evidence from German small business closures

Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This paper explores how different reasons for business closure impact the probability that financial loss will be suffered by creditors. Using German small business data, the study finds that business closure due to financial problems is strongly correlated with a likelihood of financial loss....

Persistent link: https://www.econbiz.de/10008494185

Bankruptcy and Voluntary Liquidation: Evidence for New Firms in East and West Germany after Unification

Prantl, Susanne - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2003

: entrepreneurial self-selection via voluntary liquidation and external selection based on insolvency regulation. Distinguishing between … and West Germany, I find distinct education and size effects and a higher share of bankruptcy-related liquidations in East …

Persistent link: https://www.econbiz.de/10005097747

Determinants of acquisition and failure: stylized facts and lessons for empirical studies

Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also … offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are … for failing and acquired firms. This implies that firm failure and acquisition should be analyzed in combination. Second …

Persistent link: https://www.econbiz.de/10005098062

Afterlife: Who Takes Heart for Restart?

Metzger, Georg - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2006

percent of novice entrepreneurs who file for bankruptcy reestablish afterwards. On average, slightly more than 15 months will …

Persistent link: https://www.econbiz.de/10005098153