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The impact of German public support transfers on firm finance : evidence from the Covid-19 crisis
Gärtner, Leo; Marek, Philipp - 2022
The economic policy response to COVID-19 lockdowns included a variety of measures. Their effects on non-financial firms, however, remain unclear. To shed light on the effect of transfers, we investigate the effect of German emergency aid transfers (November-December aid), a program designed for...
Persistent link: https://www.econbiz.de/10013205580
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Unemployment benefit duration and startup success
Camarero Garcia, Sebastian; Murmann, Martin - 2020
Despite the importance of business creation for the economy and a relevant share of new firms being started out of unemployment, most research has focused on analyzing the effect of unemployment insurance (UI) policies on reemployment outcomes that ignore self-employment. In this paper, we...
Persistent link: https://www.econbiz.de/10012241969
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Unemployment benefit duration and startup success
Camarero Garcia, Sebastian; Murmann, Martin - 2024
Business creation is economically important, and unemployment precedes the creation of a substantial share of new firms. Yet, most research has focused on analyzing the effects of unemployment insurance policies on re-employment outcomes, ignoring self-employment. In this paper, we analyze how...
Persistent link: https://www.econbiz.de/10015048442
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The commitment role of equity financing
Fahn, Matthias; Wamser, Georg; Merlo, Valeria - 2017
Existing theories of a firm's optimal capital structure seem to fail in explaining why many healthy and profitable … with a number of empirical results, which seem to stay in contrast to existing theories on capital structure. …
Persistent link: https://www.econbiz.de/10011705222
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Targeted bidders in government tenders
Cappelletti, Matilde; Giuffrida, Leonardo M. - 2022
A set-aside restricts participation in procurement contests to targeted firms. Despite being widely used, its effects on actual competition and contract outcomes are ambiguous. We pool a decade of US federal procurement data to shed light on this empirical question using a two-stage approach. To...
Persistent link: https://www.econbiz.de/10013282669
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The distinct features of hidden champions in Germany : a dynamic capabilities view
Rammer, Christian; Spielkamp, Alfred - 2019
efficiency can be linked to their superior technological capabilities and to higher investment in human capital and HR management …
Persistent link: https://www.econbiz.de/10011997801
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The Italian startup act : a microeconometric program evaluation
Biancalani, Francesco; Czarnitzki, Dirk; Riccaboni, Massimo - 2020
innovativeness of small and young enterprises by facilitating improved access to (external) capital and (highskilled) labor … capital and they also hire more employees because of the program participation. …
Persistent link: https://www.econbiz.de/10012167050
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Differential taxation and firms' financial leverage : evidence from the introduction of a flat tax on interest income
Fossen, Frank M.; Simmler, Martin - 2012
Tax competition for the mobile factor capital has led to a trend in many countries to levy lower taxes on interest … leverage when the tax rate on interest income decreases, albeit to a small degree. -- Income taxation ; capital taxation …
Persistent link: https://www.econbiz.de/10009510579
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Tax incentives and capital structure choice : evidence from Germany
Hartmann-Wendels, Thomas; Stein, Ingrid; Stöter, Alwin - 2012
This paper provides new evidence that taxes affect capital structure choice, using a unique and comprehensive panel … specifications like using changes in debt or debt to capital ratios. A significantly positive effect of taxes on the debt ratio can … also be identified in a partial adjustment model. -- Debt ; capital structure ; marginal tax rate ; corporate taxes …
Persistent link: https://www.econbiz.de/10009625689
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Size matters : "over"investments in a relational contracting setting
Englmaier, Florian; Fahn, Matthias - 2018
, and if it faces a volatile environment, investments into general, non-relationship-specific, capital can increase the …
Persistent link: https://www.econbiz.de/10011895831