This paper analyses theperformance ofmaturity transformation strategiesduring a period of high and low interest rates. Based on German government bond yieldsfrom September 1972 to May 2019,we construct a rolling window of bond ladders where long-term assets are financed by short-term...

Zusammenfassung Die Bedeutung der Unternehmenskommunikation ist in den letzten Jahren deutlich gestiegen. Dies gilt in besonderem Maße auch für die Kreditwirtschaft. Dieser Beitrag analysiert Unterschiede in der externen Berichterstattung der drei Bankensektoren in Deutschland, den Sparkassen,...

Banks are often accused to bias their information documents in order to exploit less sophisticated investors. This paper analyzes the sales prospectus scenarios created by banks to demonstrate their structured financial products for retail investors. Based on a broad data-set of prospectuses in...

German industry is the leading global supplier of industrial products and of significant importance for the German economy. To maintain and grow its competitive edge, both German industry and the German government actively drive innovation in products and production processes. One such...

This paper analyses the performance of maturity transformation strategies during a period of high and low interest rates. Based on German government bond yields from September 1972 to May 2019,we construct a rolling window of bond ladders where long-term assets are financed by short-term...

This paper analyses theperformance ofmaturity transformation strategiesduring a period of high and low interest rates. Based on German government bond yieldsfrom September 1972 to May 2019,we construct a rolling window of bond ladders where long-term assets are financed by short-term...