This study examines the actual funding behavior of German innovative firms in the pre- and post-crisis period. Specifically, we investigate if and how the funding patterns and financial constraints of German small and medium enterprises (SME) changed during and since the financial crisis. The...

Many policy actions of the CMU have the objective to enhance access to finance for the so-called backbone of the European economy-the SMEs. The CMU aims at improving the framework conditions for SME financing, at strengthening bank lending-as the most important external financing source for...

The European Commission's current initiative to commence consultations on the action plan to build a Capital Markets Union is to be welcomed. The objective must be to create a stable and sustainable financial system, providing all households and companies with appropriate access to financial...

Using the Mannheim Innovation Panel, we explore whether Environmental Innovator Firms (EIFs) have higher financial needs and are more financially constrained than Non-Environmental Innovator firms (OIFs). We find that EIFs are more likely to have higher latent financial need in comparison to...

Finanzkompetenzen haben für die gesellschaftliche Teilhabe eine hohe Bedeutung. Dieser Beitrag führt eine empirische Evaluation der Determinanten der Finanzkompetenz von Studierenden an einer deutschen Hochschule durch. Ein weiteres Ziel ist auch die Identifizierung der geschlechtsspezifischen...

This paper deals with the causes and consequences of the financial disintermediation that for some time has been taking place in Europe, particularly since the last financial crisis. Firstly, we present the evolution of bank and capital markets funding, which can be largely explained by the...

The analysis highlights the aspects of diversified market structures and of local, low-distance banking as advantageous for financial stability. Heterogeneity protects from uniform market behaviour. Local banking can better overcome the problem of asymmetric information, particular in SME...