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Not so Lucky Any More : CEO Compensation in Financially Distressed Firms
Kang, Qiang; Mitnik, Oscar A. - 2021
distressed firms is higher before insolvency and lower upon and after insolvency, while the proportion for similar but solvent …
Persistent link: https://www.econbiz.de/10013324758
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Surviving the Crisis : Foreign Multinationals vs Domestic Firms in Ireland
Godart, Olivier - 2011
Starting from the observation that all firms in Ireland (foreign and domestic in manufacturing and services industries) were hit by the crisis, the paper asks whether there is a difference in the behaviour of foreign and domestic firms. One hypothesis is that foreign multinationals are less...
Persistent link: https://www.econbiz.de/10013121748
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Personal Bankruptcy Law, Wealth and Entrepreneurship : Theory and Evidence from the Introduction of a 'Fresh Start'
Fossen, Frank M. - 2011
tests the hypotheses derived by exploiting the introduction of a "fresh start" policy in Germany in 1999 as a natural …
Persistent link: https://www.econbiz.de/10013130785
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Financial Crises and Liberalization : Progress or Reversals?
Saka, Orkun - 2019
Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for...
Persistent link: https://www.econbiz.de/10012868012
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Differences in Euro-Area Household Finances and Their Relevance for Monetary-Policy Transmission
Hintermaier, Thomas - 2019
prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life …
Persistent link: https://www.econbiz.de/10012859309
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Interest Rate Bands of Inaction and Play-Hysteresis in Domestic Investment : Evidence for the Euro Area
Belke, Ansgar Hubertus - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012863789
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Productivity Premia for German Manufacturing Firms Exporting to the Euro-Area and Beyond : First Evidence from Robust Fixed Effects Estimations
Verardi, Vincenzo - 2010
estimates of the productivity premium of German firms exporting to the Euro-zone and beyond, controlling for unobserved time … invariant firm specific effects, and tests for self-selection of more productive firms into exporting beyond the Euro-zone. (3 … Euro-zone only is no longer much smaller that the premium of firms that export beyond the Euro-zone, too, and the premium …
Persistent link: https://www.econbiz.de/10013141754
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Fiscal Policy, Sovereign Default, and Bailouts
Juessen, Falko - 2013
This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...
Persistent link: https://www.econbiz.de/10013071428
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Crises, What Crises?
Campos, Nauro F.; Hsiao, Cheng; Nugent, Jeffrey B. - 2021
Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises that are the most important drivers of structural...
Persistent link: https://www.econbiz.de/10013317524
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Business Conditions and Default Risks Across Countries
Pflüger, Michael - 2011
The risk of default that business firms face is very significant and differs widely across countries. This paper explores the links between countries' business conditions and international trade embedment and the default risk at the country level from a theoretical point of view. Our main...
Persistent link: https://www.econbiz.de/10013128748