We estimate the effects of R&D on firms' credit ratings and on financial distress. The main purpose is the comparison of firms in Western Germany and Eastern Germany as a transitional economy. Innovative activity has a positive impact on firm value proxied by ratings in Western Germany, but a...

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....

Corporate failures and accounting scandals had shaken the foundations of investors’ confidence in the transparency, integrity and accountability of corporations and financial markets. There had also been public disquiet about the role of professional auditors and audit firms, who had been...

Prolog -- Wirtschaftskrieg als neues ökonomisches Paradigma -- Die Geburt des Wirtschaftskriegs aus dem Geiste der Rivalität -- Das Menschen- und das Ordnungsbild im Wirtschaftskrieg -- Der institutionelle Rahmen des Wirtschaftskriegs -- Kooperative und agonale Theorien des Staats --...