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We introduce an innovative theoretical framework for the valuation and replication of derivative transactions between defaultable entities based on the principle of arbitrage freedom. Our framework extends the traditional formulations based on credit and debit valuation adjustments (CVA and...
Persistent link: https://www.econbiz.de/10009739564
Investment fell sharply in the euro area after the financial crisis and has not yet returned to pre-crisis levels in many core economies. Focusing on the four largest euro-area countries, this paper investigates the role of uncertainty for investment dynamics. By doing so, we compare five...
Persistent link: https://www.econbiz.de/10011571047
Diese Studie versucht Eigenschaften zu identifizieren, die das Beschäftigungswachstum junger deutscher Unternehmen in … Unternehmensgründungen in Deutschland leistet. Aber auch andere unternehmens- und unternehmerbezogene sowie unternehmensexterne Faktoren …
Persistent link: https://www.econbiz.de/10001594764
Persistent link: https://www.econbiz.de/10001723513
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In this paper we discuss determinants of firm survival and growth in Germany within its pre-1989 boundaries. We develop …
Persistent link: https://www.econbiz.de/10011622932
Unternehmen lassen erkennen, daß junge innovative Unternehmen signifikant höhere Wachstumsraten erzielen als junge Unternehmen mit … traditionellen Produkten. Die Abschätzung der Beschäftigungseffekte auf Basis von in den Jahren 1989 und 1990 gegründeten Unternehmen … zeigt darüber hinaus, daß in der Kohorte innovativer Unternehmen aufgrund der im Vergleich zu nicht-innovativen Unternehmen …
Persistent link: https://www.econbiz.de/10013428148
The present paper deals with the question whether 'Gibrat's law' is applicable to firms founded between 1989 and 1996 within the Western German manufacturing sector or not. The underlying assumption is that size of a firm has no influence on its growth. Growth is rather determined by a process...
Persistent link: https://www.econbiz.de/10013428190
The paper deals with growth determinants of innovative and noninnovative start-ups in Eastern and Western Germany … external factors on the other side, influencing growth of start-ups in Eastern and Western Germany in different strength …. Higher growth rates can be observed in firms from Western Germany compared with their Eastern German counterparts. Comparing …
Persistent link: https://www.econbiz.de/10013428226
In this paper we examine causal effects of German public assistance programs for young firms administered by the Deutsche Ausgleichsbank (DtA). The empirical analysis is based on a combined data set with information from the ZEW Entrepreneurship Study and the DtA data base that contains all...
Persistent link: https://www.econbiz.de/10013428384