In this paper we discuss determinants of firm survival and growth in Germany within its pre-1989 boundaries. We develop … details of liability regulation and taxation rules which German entrepreneurs face when choosing a particular legal form for … as forced liquidation. Firms under limited liability are characterized by higher growth and higher insolvency rates than …

This paper discusses the incentives for innovation when liability is limited or not. Clearly innovative activity … involves risk. On the one hand, the risk of firm owners is limited if their liability is limited. On the other hand credits … will be more difficult to receive if liability is limited. The paper first discusses these issues theoretically and then …

expected harm. We find that, even with customers being perfectly informed about product variants' safety, product liability can … discrimination. In this context, strict liability has to be accompanied by a defense of product misuse, but reasonable use of the …