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Sustainable Stocks and the Russian War on Ukraine - an Event Study in Europe
Kick, Andreas; Rottmann, Horst - 2022
The popularity of sustainable investments is unbroken and attracts investors and researchers alike. Modelling the properties of such ‘green’ firms, Pástor, Stambaugh, and Taylor 2021 consider a hedge against climate risks in their theoretical model. Likewise, it could be assumed that...
Persistent link: https://www.econbiz.de/10014082162
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Investment in relationship-specific assets: Does finance matter?
Strieborny, Martin; Kukenova, Madina - 2011
and short-term planning horizon can also lead to such underinvestment. Subsequently, banks can stimulate growth …
Persistent link: https://www.econbiz.de/10010274757
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Cybercrime on the Ethereum Blockchain
Hornuf, Lars; Momtaz, Paul P.; Nam, Rachel J.; Yuan, Ye - 2023
We propose a taxonomy of cybercrime on the Ethereum blockchain and examine how cybercrime impacts victims' risk-taking and returns. Our difference-in-differences analysis of a sample of victims and matched non-victims suggests that victims increase their long-term total risk-taking and earn...
Persistent link: https://www.econbiz.de/10014377572
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Cybercrime on the Ethereum Blockchain
Hornuf, Lars; Momtaz, Paul P.; Nam, Rachel J.; Yuan, Ye - 2023
We propose a taxonomy of cybercrime on the Ethereum blockchain and examine how cybercrime impacts victims’ risk-taking and returns. Our difference-in-differences analysis of a sample of victims and matched non-victims suggests that victims increase their long-term total risk-taking and earn...
Persistent link: https://www.econbiz.de/10014352598
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Downward Revision of Investment Decisions after Corporate Tax Hikes
Link, Sebastian; Menkhoff, Manuel; Peichl, Andreas; … - 2022
This paper estimates the causal effect of corporate tax hikes on firm investment based on more than 1,400 local tax changes. By observing planned and realized investment volumes in a representative sample of German manufacturing firms, we can study how tax hikes induce firms to revise their...
Persistent link: https://www.econbiz.de/10013353398
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Downward Revision of Investment Decisions after Corporate Tax Hikes
Link, Sebastian; Menkhoff, Manuel; Peichl, Andreas; … - 2022
This paper estimates the causal effect of corporate tax hikes on firm investment based on more than 1,400 local tax changes. By observing planned and realized investment volumes in a representative sample of German manufacturing firms, we can study how tax hikes induce firms to revise their...
Persistent link: https://www.econbiz.de/10014082236
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The Political Economy of Financial Systems: Evidence from Suffrage Reforms in the Last Two Centuries
Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin - 2013
Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...
Persistent link: https://www.econbiz.de/10010328724
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Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries
Samargandi, Nahla; Fidrmuc, Jan; Ghosh, Sugata - 2014
We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries … financial development does not have a linear positive long-run impact on economic growth in this sample. When we consider a non …-linear relationship between financial development and growth, we find an inverted U-shaped relationship between finance and growth in the …
Persistent link: https://www.econbiz.de/10010352371
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What Drives Financial Development? A Meta-Regression Analysis
Doucouliagos, Chris; de Haan, Jakob; Sturm, Jan-Egbert - 2020
This paper offers a meta-regression analysis of the literature on the drivers of financial development. Our results based on 1900 estimates suggest that institutional quality is positively correlated to both private sector credit and stock market capitalization (both as share of GDP). Domestic...
Persistent link: https://www.econbiz.de/10012269426
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Is Finance Good for Growth? New Evidence from China
Chen, Jingzhu; Ji, Yuemei - 2022
We study the relationship between finance and growth using a sample of 275 Chinese cities during 2009-2018. We exclude … form of higher loan to GDP ratio leads to lower economic growth rate. We find that discrimination in bank lending, housing … market bubbles and an unbalanced growth between real and financial sectors account for this negative relationship between …
Persistent link: https://www.econbiz.de/10013427668