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Are Credit Ratings Valuable Information?

Kraft, Kornelius; Czarnitzki, Dirk - 2004

Credit ratings are commonly used by lenders to assess the default risk, because every credit is connected with a possible loss. If the probability of a default is above a certain threshold, a credit will not be provided. The purpose of this paper is to test whether credit ratings contribute...

Persistent link: https://www.econbiz.de/10010297323

Innovationsaktivitäten von kmU im verarbeitenden Gewerbe: Was zeichnet Imitatoren und originäre Innovatoren aus?

2003

This contribution is concerned with the spread of new products in small and medium-sized enterprises in the manufacturing sector. Based on an empirical study it is analyzed according to which factors planned product launches are either genuine market novelties or products that are new from the...

Persistent link: https://www.econbiz.de/10010297332

Research and development: financial constraints and the role of public funding for small and medium-sized enterprises

Czarnitzki, Dirk - 2002

SME in Western and East-ern Germany are compared because these regions are very different in their supply of public R … German small and medium?sized firms (SME). Special attention is paid to the role of public R&D subsidies. For this purpose …&D funding. It turns out that Western German SME are financially constrained in their R&D activities by both internal and …

Persistent link: https://www.econbiz.de/10010297688

What Determines the ZEW Indicator?

Hüfner, Felix P.; Lahl, David - 2003

This paper analyzes which factors are driving the ZEW Indicator of Economic Sentiment. Using the results of a poll among survey participants as well as Granger causality tests we identify three groups of influence factors: other sentiment indicators, financial variables and real economy data. In...

Persistent link: https://www.econbiz.de/10010297299

Auswirkungen von Erbschaften und Schenkungen auf die Vermögensbildung privater Personen und Haushalte: Eine ökonometrische Analyse auf der Basis des Sozio-oekonomischen Panels

Westerheide, Peter - 2004

Die Untersuchung analysiert das Sparverhalten der über 30- bis unter 50jährigen Personen bzw. Haushalte mit Haushaltsvorständen in dieser Altersgruppe in Reaktion auf erhaltene Erbschaften bzw. Transfers zu Lebzeiten. Zugrunde liegen aktuelle Daten des Sozio-oekonomischen Panels. Mittels...

Persistent link: https://www.econbiz.de/10010297351

Integrated Financial Supervision in Germany

Schüler, Martin - 2004

With the establishment of the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in May 2002 Germany followed the … authority in Germany. Moreover, BaFin?s tasks and structure are discussed. …

Persistent link: https://www.econbiz.de/10010297360

Centralizing Tendencies in the Public Sector in Germany

Stegarescu, Dan - 2005

This paper investigates the long-term trend and the underlying determinants of public sector centralization in Germany … of Germany. …

Persistent link: https://www.econbiz.de/10010297454

Payout Policy and Owners? Interests: Evidence from German Savings Banks

Kleff, Volker; Weber, Martin - 2005

The savings banks? decision to distribute profits among their public owners is strongly regulated by law in order to guarantee their adequate funding via retained profits. However, the legal scope is reluctantly exhausted. In this study we examine the determinants of the savings banks? payout...

Persistent link: https://www.econbiz.de/10010297471

Capital policy of German savings banks: a survey

Kleff, Volker - 2005

In contrast to earlier field studies, we survey German public savings banks on their management of capital. We find that the most important determinants of the savings banks? target capital ratio are risk aversion, the desired credit growth and profitability. Savings banks prefer to manage the...

Persistent link: https://www.econbiz.de/10010297475

Efficient Revenue Sharing and Upper Level Governments: Theory and Application to Germany

Buettner, Thiess; Hauptmeier, Sebastian; Schwager, Robert - 2006

in Germany. The results suggest that attempts of state level governments to extract fiscal resources from the local …

Persistent link: https://www.econbiz.de/10010297521

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