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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 … shareholders may not be socially optimal in banks. …

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

contrast to corporate shareholders, private shareholders tend to sell control blocks when financial pressure increases. …

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

ownership (control transfers). Such changes are more likely for firms with high leverage, while they are less likely for larger …

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 detailed descriptive evidence on the ownership structures of German manufacturing firms. It addresses several shortcomings of the previous German empirical literature: First, we study...

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

Corporate governance, market discipline, and productivity growth

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

Using a large panel of German manufacturing firms over the years 1986?1996, this study examines the impact of corporate governance and market discipline on productivity growth. We find that firms under concentrated ownership tend to show significantly higher productivity growth. Financial...

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

changes mainly focus on the remuneration of managers and on further professionalizing the supervisory board. Problematic is … for stock corporations. Recent empirical evidence, moreover, suggests that bank shareholders pushed for greater risk …-taking and not managers. This contrast with public view that the bank managers are pushed by aggressive remunerations schemes to …

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

Blockholdings and corporate governance in the EU banking sector

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

Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate governance in the EU banking sector. This paper analyzes the...

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