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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

Business closure and financial loss: Who foots the bill? Evidence from German small business closures

Metzger, Georg - 2010

This paper explores how different reasons for business closure impact the probability that financial loss will be suffered by creditors. Using German small business data, the study finds that business closure due to financial problems is strongly correlated with a likelihood of financial loss....

Persistent link: https://www.econbiz.de/10010300384

How Do Banks Determine Capital? Empirical Evidence for Germany

Weber, Martin; Kleff, Volker - 2003

This paper examines how capital is determined by German banks. We analyse whether the determinants found in the previous empirical literature hold for the special German banking sector with its three characteristic banking groups of savings banks, cooperative banks and other banks. On the basis...

Persistent link: https://www.econbiz.de/10010297333

Corporate governance and current regulation in the German banking sector: an overview and assessment

Köhler, Matthias - 2010

This paper gives an overview over corporate governance and banking regulation in Germany. Particular attention is put …, some of the recommendations and suggestions made to improve corporate governance in Germany are not legally binding even … for stock corporations. Recent empirical evidence, moreover, suggests that bank shareholders pushed for greater risk …

Persistent link: https://www.econbiz.de/10010299931

An information economics perspective on main bank relationships and firm R&D

Hoewer, Daniel; Schmidt, Tobias; Sofka, Wolfgang - 2011

distributed between inventors and investors. As a result, bank lending for firm R&D has been rare. However, firms can signal the … potential to alter the risk assessment of the firm's main bank. Additionally, we explore heterogeneities in these risk … assessments arising from the industry level and the main bank's portfolio. We test our theoretical predictions for a sample of …

Persistent link: https://www.econbiz.de/10010306611

How do banks screen innovative firms? Evidence from start-up panel data

Brown, Martin; Degryse, Hans; Höwer, Daniel; Penas, … - 2012

-up firms over the period 2007-2009, we find that high-tech startups are less likely to use bank finance and face more … difficulties in raising bank finance than low-tech start-ups. We find that external credit scores do affect the availability of …-tech start-ups than low-tech start-ups. Start-ups that have their main relation with a small bank use more bank finance and …

Persistent link: https://www.econbiz.de/10010308954

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

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