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Bank owners or bank managers: who is keen on risk? Evidence from the financial crisis

Gropp, Reint; Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the wake of the financial crisis of 2007/2008. We show that owner controlled banks had higher profits in the years before the crisis, and incurred larger losses and were more likely...

Persistent link: https://www.econbiz.de/10008518270

Corporate monitoring by blockholders in Europe: empirical evidence of managerial disciplining in Belgium, France, Germany, and the UK

Dherment-Ferere, Isabelle; Köke, Jens; Renneboog, Luc - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001

This study examines managerial disciplining in poorly performing firms using large panels for Belgian, French, German and UK firms. We consider the monitoring role of large blockholders, the market for share blocks, creditors, and non-executive directors. Board restructuring is correlated to...

Persistent link: https://www.econbiz.de/10005097669

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

Control transfers in corporate Germany: their frequency, causes and consequences

Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2000

This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...

Persistent link: https://www.econbiz.de/10005098061

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 significantly different from surviving firms on a number of...

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

New evidence on ownership structures in Germany

Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 1999

Ownership structures are an important element of the theory explaining corporate governance. This study presents …

Persistent link: https://www.econbiz.de/10005098175

Corporate governance, market discipline, and productivity growth

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

governance and market discipline on productivity growth. We find that firms under concentrated ownership tend to show …

Persistent link: https://www.econbiz.de/10005098443

How important is industry-specific managerial experience for innovative firm performance?

Balsmeier, Benjamin; Czarnitzki, Dirk - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2014

This study examines how industry-specific managerial experience affects firms' innovation performance in the context of different institutional environments. Based on firm-level data from 27 Central and Eastern European countries we identify a robust positive relationship between...

Persistent link: https://www.econbiz.de/10010957603

Corporate governance and current regulation in the German banking sector: an overview and assessment

Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2010

This paper gives an overview over corporate governance and banking regulation in Germany. Particular attention is put … that several laws that were enacted in the past years to improve corporate governance focus on listed firms. Furthermore …, some of the recommendations and suggestions made to improve corporate governance in Germany are not legally binding even …

Persistent link: https://www.econbiz.de/10008494187

Blockholdings and corporate governance in the EU banking sector

Köhler, Matthias - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2009

governance in the EU banking sector. This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate … governance mechanisms in the EU banking sector against the background of the regulatory environment and differences in the … indicate that EU regulations have not always improved corporate governance in the banking sector. While shareholder control has …

Persistent link: https://www.econbiz.de/10008533672