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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/10003919056
Motivated by the current discussion on different separate banking systems, we provide an overview of the different systems, question them and outline their effect on systemic stability and the German banking sector. The results show that the various separate banking systems only play a minor...
Persistent link: https://www.econbiz.de/10009721401
This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...
Persistent link: https://www.econbiz.de/10003728591
This study provides empirical evidence verifying the theory of price discovery for Eastern European enterprises based on their cross-listing on Western European exchanges. Despite the fact that the crosslisting behavior of companies has been analyzed very actively since the mid-70s, many...
Persistent link: https://www.econbiz.de/10003582511
The German experience of the crisis was very different compared to those of most other countries in Europe. Germany was … situation and how the crisis unfolded in Germany, before focusing on the situation of public finances. Finally, we analyse the …
Persistent link: https://www.econbiz.de/10011286043
-term sustainability. We argue that the latest reforms have moved pension provision in Germany in principle from a defined benefit to a … ; Financial Crisis ; Fiscal Sustainability Survey ; Germany …
Persistent link: https://www.econbiz.de/10003857711
bank. The results suggest that capital requirements may only be of second-order importance for banks' capital structures …
Persistent link: https://www.econbiz.de/10003671222
Persistent link: https://www.econbiz.de/10001701678
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/10009270085
In contrast to earlier field studies, we survey German public savings banks on their management of capital. We find that the most important determinants of the savings banks’ target capital ratio are risk aversion, the desired credit growth and profitability. Savings banks prefer to manage the...
Persistent link: https://www.econbiz.de/10003178539