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Why do foreign banks withdraw from other countries? : a panel data analysis

Hryckiewicz, Aneta; Kowalewski, Oskar - 2010

This paper describes the trends in foreign bank ownership across the world and presents, for the first time, empirical evidence of the causes of multinational banks' exits from other countries. Using panel data for 149 closed or divested foreign bank subsidiaries across 54 countries from 1997 to...

Persistent link: https://www.econbiz.de/10003955236

Divide and privatize : firm break-up and performance

Kočenda, Evžen; Hanousek, Jan - 2011

after a certain point they quickly diminish over time. Factors like changes in ownership structure and management are to be …

Persistent link: https://www.econbiz.de/10009130271

Cyclical asset returns in the consumption and investment goods sector

Heer, Burkhard; Maussner, Alfred; Süssmuth, Bernd - 2013

We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost …

Persistent link: https://www.econbiz.de/10009786095

Short and long-run behaviour of long-term sovereign bond yields

Afonso, António - 2010

This study assesses the short and long-run behaviour of long-term sovereign bond yields in OECD countries, for the period 1973-2008. We employ a dynamic panel approach to reflect financial and economic integration, and to increase the performance and accuracy of the tests. Given the existence of...

Persistent link: https://www.econbiz.de/10008732265

Long-run determinants of sovereign yields

Afonso, António; Rault, Christophe - 2010

We study sovereign bond yields in OECD countries with a dynamic panel by checking for cross-section dependence; assessing panel cointegration; and estimating panel error-correction models. The results show that markets consider budgetary and external imbalances and inflation as relevant...

Persistent link: https://www.econbiz.de/10008653417

Survivor benefits and the gender tax gap in public pension schemes : observations from Germany

Werding, Martin (contributor) - 2005

Since its inception, the traditional form of providing survivor benefits within public pension schemes has lost much of its legitimacy. As a result of fundamental changes in marriage behaviour and the typical division of labour between married spouses, offering noncontributory benefits of this...

Persistent link: https://www.econbiz.de/10003204012

The yield spread puzzle and the information content of SPF forecasts

Lahiri, Kajal; Monokroussos, George; Zhao, Yongchen - 2012

While the yield spread has long been recognized as a good predictor of recessions, it seems to have been largely …-rich environment including not just the yield spread but many other predictors as well. We confirm the puzzle in this context by … examining the contributions of both the SPF forecasts and the yield spread in predicting recessions, and by examining the …

Persistent link: https://www.econbiz.de/10009630664

On the capital structure of foreign subsidiaries : evidence from a panel data quantile regression model

Miniaci, Raffaele; Panteghini, Paolo - 2021

This paper studies how variations in tax rates and profitability affect the (unconditional) quantiles of the distribution of the leverage of European foreign owned subsidiaries in the presence of unobserved company characteristics, possibly correlated with their observable dimensions. To achieve...

Persistent link: https://www.econbiz.de/10012514927

Microeconometric evidence of financing frictions and innovative activity

Tiwari, Amaresh K.; Mohnen, Pierre A.; Palm, Franz C.; … - 2014

Using Dutch data we empirically investigate how financing and innovation vary across firm characteristics. We find that when firms face financial constraints, debt financing and innovation choices are not independent of firm characteristics, and R&D slows down. In the absence of financial...

Persistent link: https://www.econbiz.de/10010249680

Finance, control, and profitability : the influence of German banks

Chirinko, Robert S.; Elston, Julie Ann Michelle - 2003

Bank intermediated finance has been cited frequently as the preferred means for channeling funds from savers to firms. Germany is the prototypical economy where universal banks allegedly exert substantial influence over firms. Despite frequent assertions about the considerable power of German...

Persistent link: https://www.econbiz.de/10011511071