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This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have...
Persistent link: https://www.econbiz.de/10010298024
This paper documents that standard cross-sectional determinants of firm leverage also apply to the capital structure of large banks in the United States and Europe. We find a remarkable consistency in sign, significance and economic magnitude. Like non-financial firms, banks appear to have...
Persistent link: https://www.econbiz.de/10005097682
Die Entwicklung des Robo Advice bietet bankenunabhängigen FinTechs die Chance, sich Anteile am Markt für Anlageberatung, Vermittlung und Verwaltung von Finanzinstrumenten zu erobern. Dauerhaft werden sie sich allerdings nur dann als unabhängige Anbieter behaupten können, wenn ihnen alle...
Persistent link: https://www.econbiz.de/10012119074
accepts all European government bonds without distinction in its monetary policy auctions as collateral. This could provide …
Persistent link: https://www.econbiz.de/10010297817
between borrowers and lenders, we quantify the value of using patents as collateral with regard to capital access. Although … patent collateral and access to capital. We make use of mandatory collateral registry data in Sweden and the Netherlands to …-in-difference regressions on firms' debt allows deducting treatment effects of using patents as collateral. We find that patent pledging enables …
Persistent link: https://www.econbiz.de/10013348849
accepts all European government bonds without distinction in its monetary policy auctions as collateral. This could provide …
Persistent link: https://www.econbiz.de/10005098173
Using a unique, hand-collected database of all venture- backed firms listed on Germany's Neuer Markt, we analyze the history of venture capital financing of these firms before the IPO and the behavior of venture capitalists at the IPO. We can detect significant differences in the behavior and...
Persistent link: https://www.econbiz.de/10010297295
In this paper, we analyze the investment and divestment patterns of different types of venture capitalists. Using a data set em- bracing all venture-backed IPOs that occurred on Germany's Neuer Markt we investigate whether the governance structures, objectives, abilities and track records of...
Persistent link: https://www.econbiz.de/10010297317
The goal of this paper is to point out the role played by private equity investors (venture-capital companies and corporate investors) in the emergence of a new biotechnology industry in Germany in the second half of the 90?s. This analysis takes into account the different business models and...
Persistent link: https://www.econbiz.de/10010297325
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