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Financial Integration within the European Union : Towards a Single Market for Insurance
Beckmann, Rainer - 2010
Our study analyses the extent of integration of the EU market for life and non-life insurance. The main integration … even less advanced for life than for non-life insurance and that mergers and acquisitions are the dominant strategy to … access a foreign market. Besides summarising the liberalisation history of the European insurance sector and discussing …
Persistent link: https://www.econbiz.de/10013136591
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Horizontal and Vertical Firm Networks, Corporate Performance and Product Market Competition
Bischoff, Oliver - 2015
This paper sheds new light on the assessment of firm networks via multiple directorships in terms of corporate firm performance. Using a large sample of European listed firms in the period from 2003 to 2011 and system GMM we find a significant compensation effect on corporate firm performance...
Persistent link: https://www.econbiz.de/10013024843
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The Nature of Innovation Channels at the Micro-Level : Evidence from Russian Manufacturing Firms
Simachev, Yuri; Kuzyk, Mikhail; Feygina, Vera - 2013
The main purpose of the paper is to analyze different channels for innovations. We consider the influence of various incentives for innovation in Russian companies taking into account the organization of industries — vertical or horizontal orientation, peculiarities of corporate demography,...
Persistent link: https://www.econbiz.de/10014153492
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Financialisation and Crisis in an Agent Based Macroeconomomic Model
Riccetti, Luca; Russo, Alberto; Gallegati, Mauro - Volkswirtschaftliche Fakultät, … - 2013
In the present paper we analyse the role of dividends distributed by firms and banks, highlighting the effects of their increase on financial instability and macroeconomic dynamics. During the last decades, the financialisation of nonfinancial corporations has been characterised by a shift from...
Persistent link: https://www.econbiz.de/10011260235
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On the demand for lotteries in Greece
Geronikolaou, George; Papachristou, George - Volkswirtschaftliche Fakultät, … - 2007
Demand for lotteries has been estimated in several countries, an important issue being whether operators set lottery payouts optimally. The question is tackled by means of a traditional demand equation in effective price and recently by a demand equation variant in jackpots, both specifications...
Persistent link: https://www.econbiz.de/10009647282
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Information Asymmetry and the Market Response to Open Market Share Repurchases
Lee, Bong Soo; Mauck, Nathan - Volkswirtschaftliche Fakultät, … - 2014
This paper proposes a new measure of firm information asymmetry. The information asymmetry measure is based on causality tests relating repurchase information to firm returns. Our results indicate that firms with greater information asymmetry show larger abnormal returns surrounding the...
Persistent link: https://www.econbiz.de/10011110229
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Do Senior Citizens Prefer Dividends? Local Clienteles vs. Firm Characteristics
Krieger, Kevin; Lee, Bong-Soo; Mauck, Nathan - Volkswirtschaftliche Fakultät, … - 2012
We examine the payout policy of U.S. firms over the period 1980-2008. Prior research indicates that firm characteristics, managerial preferences, and investor clienteles are all important factors in setting payout policy. Counter to the oft-reported positive relation between senior citizens and...
Persistent link: https://www.econbiz.de/10011110722
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Impact of managerial ownership on financial policies and the firm’s performance: evidence Pakistani manufacturing firms
Din, Shahab-u-; Javid, Attiya Yasmin - Volkswirtschaftliche Fakultät, … - 2011
support that the concentration of managerial ownership affects the firms financial policies, mainly the leverage and dividend … that the lower leverage level leads to high profitability firms engage in low managers‟ ownership program. The result also … determines a negative and significant association among the mangers ownership concentration and dividend policy of the firms …
Persistent link: https://www.econbiz.de/10011260358
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Study On Dividend Policy: Antecedent and Its Impact On Share Price
Murhadi, Werner-Ria - Volkswirtschaftliche Fakultät, … - 2008
This research aims to test dividend signaling theory in an Indonesian capital market. Signaling theory states that … dividend policy has information content that can influence to share price. Examination of theory of signaling is related to … research phenomena in other countries indicating that by percentage there is degradation of company which is pay dividend and …
Persistent link: https://www.econbiz.de/10008685512
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Revisiting Executive Pay in Family-Controlled Firms: Family Premium in Large Business Groups
Cheong, Juyoung; Kim, Woochan - Volkswirtschaftliche Fakultät, … - 2014
According to the prior literature, family executives of family-controlled firms receive lower compensation than non-family executives. One of the key driving forces behind this is the existence of family members who are not involved in management, but own significant fraction of shares and...
Persistent link: https://www.econbiz.de/10011108030