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Personal experience: a most vicious and limited circle!? : on the role of entrepreneurial experience for firm survival

Metzger, Georg (contributor) - 2007

The analysis in this paper gives attention to effects on firm survival which come from entrepreneurial experience. It is likely that different kinds of experience result in different firm developments and therefore in different types of firm exit. Particular emphasis is placed upon the effects...

Persistent link: https://www.econbiz.de/10003567060

Do private equity owners increase risk of financial distress and bankruptcy?

Tykvová, Tereza; Borell, Mariela - 2011

There is some controversy on the key sources of success in the private equity model and on how this business model affects the portfolio companies. We investigate financial distress risks of European companies around the buyout event in the period between 2000 and 2008. In addition, we analyze...

Persistent link: https://www.econbiz.de/10009424110

A viable insolvency procedure for sovereigns (VIPS) in the euro area

Fuest, Clemens; Heinemann, Friedrich; Schröder, Christoph - 2014

architecture of the euro area. The introduction of an insolvency procedure for sovereigns faces a dilemma: In the foreseeable … blueprints for sovereign insolvency procedures in the euro area and develops a “Viable Insolvency Procedure for Sovereigns” (VIPS … transition towards the new regime. The VIPS proposal comprises two pillars: An insolvency procedure for the long run and a …

Persistent link: https://www.econbiz.de/10010394484

Genetic algorithms : a tool for optimization in econometrics : basic concept and an example for empirical applications

Czarnitzki, Dirk; Doherr, Thorsten - 2002

This paper discusses a tool for optimization of econometric models based on genetic algorithms. First, we briefly describe the concept of this optimization technique. Then, we explain the design of a specifically developed algorithm and apply it to a difficult econometric problem, the...

Persistent link: https://www.econbiz.de/10011447402

From soft and hard-nosed bankers : bank lending strategies and the survival of financially distressed firms

Höwer, Daniel - 2009

Do private banks act as hard-nosed bankers when firms get financially distressed compared to public banks that have the mandate to support regional economy? For German firms in the period 2000-2005, I find that the probability of leaving the market after financial distress is higher for firms...

Persistent link: https://www.econbiz.de/10003893124

The impact of state aid on the survival and financial viability of aided firms

Heim, Sven; Hüschelrath, Kai; Schmidt-Dengler, Philipp; … - 2016

We estimate the causal impact of restructuring aid granted by the European Commission between 2003 and 2012 on the survival and financial viability of aided firms. Using a comprehensive dataset we find that restructuring aid increases a firm’s average survival time by 8 to 15 years and...

Persistent link: https://www.econbiz.de/10011456653

Do residential property companies systematically adjust their capital structure? : The case of Germany

Kurzrock, Björn-Martin; Mokinski, Frieder; Schindler, Felix - 2011

This paper analyzes whether predominantly non-listed corporations in the residential property industry systematically adjust their capital structure to changing financing requirements. Since previous research almost exclusively focused on listed companies, little is known about the...

Persistent link: https://www.econbiz.de/10008901834

Short-term borrowing for long-term projects : are family businesses more susceptible to “irrational” financing choices?

Peters, Bettina; Westerheide, Peter - 2011

There are noticeable differences between the roles that various forms of credit financing play in family businesses and in other businesses. Family businesses take out more often bank loans specifically to finance investments and innovations, and they particularly often resort to the short-term...

Persistent link: https://www.econbiz.de/10008901888

Ownership concentration, institutional development and firm performance in Central and Eastern Europe

Balsmeier, Benjamin; Czarnitzki, Dirk - 2010

This paper analyzes the relationship of ownership concentration and firm performance in the context of different institutional environments in 28 Central and Eastern European transition economies. Using the BEEPS data for the period from 2002 to 2009 we find an inverted u-shaped relation of...

Persistent link: https://www.econbiz.de/10008746140

Returns to private equity : idiosyncratic risk does matter!

Müller, Elisabeth - 2009

Owners of private companies often invest a substantial share of their net worth in one company, which exposes them to idiosyncratic risk. For US companies we investigate whether owners require compensation for lack of diversification in the form of higher returns to equity. Exposure to...

Persistent link: https://www.econbiz.de/10003922530