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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
This paper analyzes the role of Thin-Capitalization rules for capital structure choice and investment decisions of multinationals. A theoretical analysis shows that the imposition of such rules tends to affect not only the leverage and the level of investment but also their tax-sensitivity. An...
Persistent link: https://www.econbiz.de/10003380555
This study examines the consequences of loan denials for the investment performance of small and medium-sized German enterprises. As a consequence of a loan denial, innovative companies experience a smaller drop in the share of actual to planned investment than non-innovative companies. The...
Persistent link: https://www.econbiz.de/10003961525
structure ; start-ups ; KfW/ZEW Start-up Panel ; Germany …
Persistent link: https://www.econbiz.de/10009510150
The paper analyses the potential impact of stock market developments on lending behaviour from different perspectives. First we scrutinize the impact of stock market movements on the banks’ and on the borrowers’ balance sheets. Subsequently we estimate aggregate credit supply and demand...
Persistent link: https://www.econbiz.de/10003268547
Persistent link: https://www.econbiz.de/10002368257
In April 1995, 5.3 million people in Germany were on the lookout for a new job opportunity. 177,000 or nearly 3% of … selfemployment in lieu of wage work are investigated separately for East and West Germany. Using the 70 %-ZEW-sample of the … factors like age, sex and education, on the status in the labour market. In 1991 in East Germany the probability of aspiring …
Persistent link: https://www.econbiz.de/10011442339
Inventors often experience a low productivity after their company has been subject to a merger or acquisition (M&As). It is of central managerial interest to identify factors facilitating the integration of new inventive staff and thereby counteracting innovation declines after M&As. This paper...
Persistent link: https://www.econbiz.de/10008660550
This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...
Persistent link: https://www.econbiz.de/10011445220
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also …
Persistent link: https://www.econbiz.de/10011446202