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Euro Area SMEs Under Financial Constraints : Belief or Reality?

Artola, Concha - 2013

reporting acute problems of access to external finance. Using firm-level replies to the SME survey on access to finance, we use …

Persistent link: https://www.econbiz.de/10013092075

SMEs and Access to Bank Credit : Evidence on the Regional Propagation of the Financial Crisis in the UK

Degryse, Hans - 2015

We study the sensitivity of banks' credit supply to small and medium size enterprises (SMEs) in the UK to banks' financial condition before and during the financial crisis. Employing unique data on the geographical location of all bank branches in the UK, we connect firms' access to bank credit...

Persistent link: https://www.econbiz.de/10013019405

Consequences of Brexit and Options for a 'Global Britain'

Brakman, Steven - 2017

The United Kingdom has opted to leave the European Union. The trade and welfare consequences of this decision are large; most studies predict a trade and welfare loss for both the UK and the EU. The UK parliament has indicated that it aims for new and ambitious trade agreements following Brexit,...

Persistent link: https://www.econbiz.de/10012955285

International Inflation Spillovers Through Input Linkages

Auer, Raphael - 2017

We document that observed international input-output linkages contribute substantially to synchronizing producer price inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange rates with international and domestic input-output...

Persistent link: https://www.econbiz.de/10012958731

CEO Preferences and Acquisitions

Jenter, Dirk - 2011

of takeover bids. Mergers frequently force target CEOs to retire early, and CEOs' private merger costs are the forgone … costs, we find strong evidence that target CEO preferences affect merger patterns. The likelihood of receiving a takeover … in takeover activity appears discretely at the age-65 threshold, with no gradual increase as CEOs approach retirement age …

Persistent link: https://www.econbiz.de/10013117262

Creative Destruction and Productive Preemption

Norback, Pehr-Johan - 2013

We develop a theory of innovation for entry and sale into oligopoly, and show that inventions of higher quality are more likely to be sold (or licensed) to an incumbent due to strategic product market effects on the sales price. Such preemptive acquisitions by incumbents are shown to stimulate...

Persistent link: https://www.econbiz.de/10013087725

Source Versus Residence Based Taxation with International Mergers and Acquisitions

Becker, Johannes - 2009

This paper analyses tax competition and tax coordination in a model where capital flows occur in the form of mergers and acquisitions, rather than greenfield investment. In this framework, we show that differences in residence based taxes do not necessarily distort international ownership...

Persistent link: https://www.econbiz.de/10013153614

A Simple Model of Mergers and Innovation

Federico, Giulio - 2017

We analyze the impact of a merger on firms' incentives to innovate. We show that the merging parties always decrease their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to reduce overall innovation. Consumers are always worse...

Persistent link: https://www.econbiz.de/10012951696

The Role of Toeholds and Capital Gains Taxes for Corporate Acquisition Strategies

Liberini, Federica - 2016

cash and stock used to finance the takeover (the method of payment). Within this framework, we analyze the effect of the …

Persistent link: https://www.econbiz.de/10012978390

Income Tax Buyouts and Income Tax Evasion

Goerke, Laszlo - 2014

A tax buyout is a contract between tax authorities and a tax payer which reduces the marginal income tax rate in exchange for a lump-sum payment. While previous contributions have focussed on labour supply, we consider the interaction with tax evasion and show that a buyout can increase expected...

Persistent link: https://www.econbiz.de/10013058508

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