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Missing Events in Event Studies : Identifying the Effects of Partially-Measured News Surprises

Gürkaynak, Refet S. - 2018

Macroeconomic news announcements are elaborate and multi-dimensional. We consider a framework in which jumps in asset prices around macroeconomic news and monetary policy announcements reflect both the response to observed surprises in headline numbers and latent factors, reflecting other...

Persistent link: https://www.econbiz.de/10012908673

What explains the rise in CEO pay in Germany? A panel data analysis for 1977-2009

Fabbri, Francesca; Marin, Dalia - 2012

The compensation of executive board members in Germany has become a highly controversial topic since Vodafone's hostile … unique panel data evidence of the 500 largest firms in Germany in the period 1977-2009 we test two prominent hypothesis in … manager power hypothesis for Germany as executives tend to be rewarded when the sector is doing well rather than the firm they …

Persistent link: https://www.econbiz.de/10010281035

How weak is the weakest-link principle? : On the measurement of firm owners' control rights

Weichenrieder, Alfons J.; Edwards, Jeremy S. S. - 2004

The paper argues that the weakest link principle, which has been widely used as a measure of ultimate owners? control rights, has a number of serious problems. A theoretically more satisfactory method of measuring control rights, based on voting power indices, is proposed, and the different...

Persistent link: https://www.econbiz.de/10010261241

The positive economics of labor market rigidities and investor protection

Fehn, Rainer; Meier, Carsten-Patrick - 2001

This paper presents a positive model which shows that institutional setups on capital and labor markets might be intertwined by politicoeconomic forces. Some countries especially in continental Europe exhibit a corporatist politicoeconomic equilibrium with a sustantial protection of insiders on...

Persistent link: https://www.econbiz.de/10010316080

Diversification and ownership concentration

Parigi, Bruno Maria; Pelizzon, Loriana - 2005

We consider a mean-variance general equilibrium economy where the expected returns for controlling and non-controlling shareholders are different because the former are able to divert a fraction of the profits. We find that when investor protection is poor, asset return correlation affects...

Persistent link: https://www.econbiz.de/10010261366

Tracking and Predicting the German Economy : Ifo vs. Pmi

Lehmann, Robert - 2020

This analysis investigates the predictive power of the most important leading indicators for the German economy, which are provided by the ifo Institute and IHS Markit. We conduct an out-of-sample, real-time forecast experiment for growth of gross domestic product and growth of gross value added...

Persistent link: https://www.econbiz.de/10012839771

Fiscal Equalization as a Driver of Tax Increases : Empirical Evidence from Germany

Büttner, Thiess - 2018

This paper exploits a recent devolution of tax setting powers in the German federation to study the effects of fiscal equalization on subnational governments’ tax policy. Based on an analysis of the system of fiscal equalization transfers, we argue that the redistribution of revenues provides...

Persistent link: https://www.econbiz.de/10012908652

Justice Delayed is Assimilation Denied : Rightwing Terror, Fear and Social Assimilation of Turkish Immigrants in Germany

Deole, Sumit S. - 2018

Turkish individuals and in other crimes targeting Islamic immigrants in Germany. Using German Socioeconomic Panel (SOEP) data …

Persistent link: https://www.econbiz.de/10012908664

Sales and Markup Dispersion : Theory and Empirics

Mrazova, Monika - 2019

We derive exact conditions relating the distributions of firm productivity, sales, output, and markups to the form of demand in monopolistic competition. Applications include a new “CREMR” demand function (Constant Revenue Elasticity of Marginal Revenue): it is necessary and sufficient for...

Persistent link: https://www.econbiz.de/10012892151

Harmonization and Interpretation of the Ifo Business Survey's Micro Data

Link, Sebastian - 2019

Every month, the ifo Business Survey (IBS) asks a representative set of 9000 German firms about their current and expected economic conditions. Thus, the micro data of the IBS are ideally suited to study various aspects of firm behavior. However, methodological heterogeneities between different...

Persistent link: https://www.econbiz.de/10012892157

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