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Why do firms recruit internationally? Result from the IZA International Employer Survey 2000

Winkelmann, Rainer - 2002

The paper studies the demand for foreign university graduates at the firm level. Using a unique dataset on recruitment policies of firms in four European countries, the determinants of demand for internationally mobile highly skilled employees are established. I investigate the number, origin,...

Persistent link: https://www.econbiz.de/10010315475

Structure and determinants of financial covenants in leveraged buyouts - evidence from an economy with strong creditor rights

Achleitner, Ann-Kristin; Braun, Reiner; Tappeiner, Florian - 2009

We apply control rights theory to explain the structure and determinants of financial covenants in private equity backed leveraged buyouts. We analyze 130 German transactions from 2000 to 2008, covering about 40 percent of the LBO market during this period. We consider Germany to be a superior...

Persistent link: https://www.econbiz.de/10010305733

Considering the shareholder perspective: value-based management systems and stock market performance

Rapp, Marc Steffen; Schellong, Daniel A.; Schmidt, … - 2010

We empirically study the use of value-based management systems in listed German firms and examine implications for firms' stock market performance. Using a novel, hand-collected data set covering 1,083 firm years from 2002 to 2008, we find that value-based management systems become increasingly...

Persistent link: https://www.econbiz.de/10010305697

Borders, Geography, and Oligopoly: Evidence from the Wind Turbine Industry

Cosar, A. Kerem; Grieco, Paul L. E.; Tintelnot, Felix - 2012

Using a micro-level dataset of wind turbine installations in Denmark and Germany, we estimate a structural oligopoly model with cross-border trade and heterogeneous firms. Our approach separately identifies border-related from distance-related variable costs and bounds the fixed cost of...

Persistent link: https://www.econbiz.de/10010500220

Aktienbasierte Langfristanreize im Rahmen der Vorstandsverguetung: Evidenz auf Basis Deutscher Prime Standard Unternehmen

Rapp, Marc Steffen; Schaller, Philipp; Wolff, Michael - 2009

While in the US stock-based incentives are commonly used since the 50s of the last century, in Germany they were invented only some ten years ago. Even in 1996 firms faced considerable regulatory difficulties when willing to grant such incentives. In the meantime the legal environment has...

Persistent link: https://www.econbiz.de/10010305700

Do corporate governance motives drive hedge funds and private equity activities?

Achleitner, Ann-Kristin; Betzer, André; Gider, Jasmin - 2008

We address the question of whether hedge fund and private equity investments in public firms are motivated by corporate governance improvements. As opposed to traditional financial investors both HF and PE are likely to have the incentives to alleviate agency conflicts. However, against the...

Persistent link: https://www.econbiz.de/10010305724

The German entrepreneurial index (GEX®): a primer on an ownership-based style index in Germany

Achleitner, Ann-Kristin; Kaserer, Christoph; … - 2009

world) have a dominant owner rather than being widely-held. Hence, owner-dominated firms comprise an important subset of …

Persistent link: https://www.econbiz.de/10010305735

History matters in microfinance

Seibel, Hans Dieter - 2003

Microfinance is not a recent development, and neither is the development of regulation and supervision of microfinance … institutions (MFIs). Every now developed country has its own history of microfinance. It is important to recognize this because it … presents a view different from that of many in the microfinance community who associate microfinance with credit NGOs and …

Persistent link: https://www.econbiz.de/10010297106

The price of liquidity: Bank characteristics and market conditions

Fecht, Falko; Nyborg, Kjell G.; Rocholl, Jörg - 2010

We identify frictions in the market for liquidity as well as bank-specific and market-wide factors that affect the prices that banks pay for liquidity, captured here by borrowing rates in repos with the central bank and benchmarked by the overnight index swap. We have price data at the...

Persistent link: https://www.econbiz.de/10010315393

The impact of managerial ownership, monitoring and accounting standard choice on accrual mispricing

Gegenfurtner, Bernhard; Ampenberger, Markus; Kaserer, … - 2009

We analyse to what extent the accrual anomaly is related to the choice of the accounting system as well as firm-level heterogeneity in corporate governance mechanisms. Using a unique dataset of listed German firms over the period 1995 to 2005 we first corroborate former results indicating that...

Persistent link: https://www.econbiz.de/10010305701