Similar Search Results

Mergers, investment decisions and internal organisation

Banal-Estañol, Albert; Macho-Stadler, Inés; … - 2003

We analyse the effects of investment decisions and firms internal organisation on the efficiency and stability of …. We show that often stable mergers do not lead to more e.ciency and may even lead to efficiency losses. These mergers lead … to lower total welfare, suggesting that a regulator should be careful in assuming that possible efficiency gains of a …

Persistent link: https://www.econbiz.de/10011507904

Upstream horizontal mergers and efficiency gains

Milliou, Chrysovalantou; Pavlou, Apostolis - 2009

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … can give rise to two efficiency-enhancing effects when firms trade through two-part tariffs. It increases R&D investments … efficiency gains can overcome its anti-competitive effects in terms of welfare, we show that when firms merge usually both of the …

Persistent link: https://www.econbiz.de/10010484491

Margins of international banking : is there a productivity Pecking order in banking, too?

Buch, Claudia M.; Koch, Cathérine Tahmee; Kötter, Michael - 2009

Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel dataset that contains all German banks'...

Persistent link: https://www.econbiz.de/10003923511

Towards a theory of trade finance

Schmidt-Eisenlohr, Tim - 2011

Shipping goods internationally is risky and takes time. To allocate risk and to finance the time gap between production and sale, a range of payment contracts is utilized. I study the optimal choice between these payment contracts considering one shot transactions, repeated transactions and...

Persistent link: https://www.econbiz.de/10009011800

Tax vs. regulation policy and the location of financial sector FDI

Merz, Julia; Overesch, Michael; Wamser, Georg - 2015

This paper analyzes how corporate taxation and regulatory requirements affect the location of financial sector FDI. We use novel information on new financial services entities established by multinational firms in 83 host countries. We find a negative effect of host country taxes on the...

Persistent link: https://www.econbiz.de/10011334235

Payment choice in international trade : theory and evidence from cross-country firm level data

Hoefele, Andreas; Schmidt-Eisenlohr, Tim; Yu, Zhihong - 2013 - This version: July 2013, First version: April 2012

When trading, firms choose between different payment contracts. As shown theoretically in Schmidt-Eisenlohr (forthcoming), this allows firms in international trade to optimally trade-off differences in financing costs and enforcement across countries. This paper provides evidence from a large...

Persistent link: https://www.econbiz.de/10009773440

Italy in the Eurozone

Keuschnigg, Christian; Kirschner, Linda; Kogler, Michael; … - 2020

Using a DSGE model with nominal wage rigidity, we investigate two scenarios for the Italian economy. The first considers sustained policy commitment to reform. The results indicate the possibility of 'growing out of bad initial conditions', if fiscal consolidation is combined with a program for...

Persistent link: https://www.econbiz.de/10012244451

The international transmission of monetary policy

Buch, Claudia M.; Bussière, Matthieu; Goldberg, Linda S.; … - 2018

This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...

Persistent link: https://www.econbiz.de/10011877813

I spy with my little eye... a banking crisis : early warnings and incentive schemes in banks

Hakenes, Hendrik; Schlegel, Friederike - 2014

conditions deteriorate when lenders notice an upcoming crisis. We discuss policies to improve information efficiency and give …

Persistent link: https://www.econbiz.de/10010467356

Shocks and the organization of the firm : who pays the bill?

Sforza, Alessandro - 2020

What happens to firms' organizational structure when they are hit by a negative shock? By matching employer-employee data with firm loans and bank balance sheets, I study firms’ reactions to a credit shock - the global financial crisis - and compare it to a trade shock - the entry of China in...

Persistent link: https://www.econbiz.de/10012162664

1
2
3
4
5
6
7
8
9
10
Next
Last