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Die schwere Wirtschaftskrise 2008/09 hatte substanzielle Auswirkungen auf die Innovationstätigkeit der deutschen Wirtschaft. Die Umsatz- und Gewinneinbußen führten zu einem kräftigen Rückgang der Innovationsausgaben. Davon waren primär Investitionen für neue Produkte und verbesserte...
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European supervisors aggressively requested more capital at large banks. That may cut credit to the economy. We confirm that especially larger banks cut loans while less-significant banks partly offset that credit drop. Moreover, we identify nasty spillovers from that interaction. Specifically,...
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This paper investigates whether investment spending of firms is sensitive to the availability of internal funds …. Imperfect capital markets create a hierarchy for the different sources of funds such that investment and financial decisions are … not independent. The relation between corporate investment and free cash flow is investigated using the Bond and Meghir …
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