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Dynamics in ownership and firm survival: evidence from corporate Germany
Heiss, Florian; Köke, Jens - 2001
This study investigates the determinants of changes in corporate ownership and firm failure, taking into account … likely to fail or to be sold when performance is poor, financial pressure is high, and firm size is small. Cross ownership … deters control changes, and ownership concentration has a non-linear impact on the likelihood of control transfer. In …
Persistent link: https://www.econbiz.de/10010297800
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Control transfers in corporate Germany: their frequency, causes and consequences
Köke, Jens - 2000
This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency … ownership (control transfers). Such changes are more likely for firms with high leverage, while they are less likely for larger … firms and firms with high ownership concentration. Only for listed firms poor performance is related to more frequent …
Persistent link: https://www.econbiz.de/10010297730
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Determinants of acquisition and failure: stylized facts and lessons for empirical studies
Köke, Jens - 2001
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...
Persistent link: https://www.econbiz.de/10010297767
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Dynamics in ownership and firm survival: evidence from corporate Germany
Heiss, Florian; Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001
This study investigates the determinants of changes in corporate ownership and firm failure, taking into account … likely to fail or to be sold when performance is poor, financial pressure is high, and firm size is small. Cross ownership … deters control changes, and ownership concentration has a non-linear impact on the likelihood of control transfer. In …
Persistent link: https://www.econbiz.de/10005097846
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Control transfers in corporate Germany: their frequency, causes and consequences
Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2000
This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency … ownership (control transfers). Such changes are more likely for firms with high leverage, while they are less likely for larger … firms and firms with high ownership concentration. Only for listed firms poor performance is related to more frequent …
Persistent link: https://www.econbiz.de/10005098061
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Determinants of acquisition and failure: stylized facts and lessons for empirical studies
Köke, Jens - Zentrum für Europäische Wirtschaftsforschung (ZEW) - 2001
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also offers important lessons for the design of empirical studies. We show that firms experiencing failure or acquisition are significantly different from surviving firms on a number of...
Persistent link: https://www.econbiz.de/10005098062
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Benefits of Control, Capital Structure and Company Growth
Mueller, Elisabeth - 2005
This paper studies the influence of the private benefits of control on the capital structure and the growth of private companies. It is argued that companies in which existing owners would lose more control if they expanded, have smaller equity increases, are more highly levered and grow more...
Persistent link: https://www.econbiz.de/10010297463
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Bank owners or bank managers: who is keen on risk? Evidence from the financial crisis
Gropp, Reint E.; Köhler, Matthias - 2010
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the wake of the financial crisis of 2007/2008. We show that owner controlled banks had higher profits in the years before the crisis, and incurred larger losses and were more likely...
Persistent link: https://www.econbiz.de/10010299988
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Blockholdings and Corporate Governance in the EU Banking Sector
Köhler, Matthias - 2008
Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in … Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate … governance in the EU banking sector. This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate …
Persistent link: https://www.econbiz.de/10010298692
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Blockholdings and corporate governance in the EU banking sector
Köhler, Matthias - 2009
Ownership structures widely differ across the EU. While large blockholdings dominate in the banking sector in … Continental Europe, ownership is widely dispersed in the United Kingdom. These differences have consequences for corporate … governance in the EU banking sector. This paper analyzes the efficiency of shareholder control and hostile takeovers as corporate …
Persistent link: https://www.econbiz.de/10010299073