Similar Search Results

Innovation and investment funding in the post-crisis period : have financing patterns and financial constraints of German firms changed?

Schäfer, Dorothea; Stephan, Andreas - In: Vierteljahrshefte zur Wirtschaftsforschung 86 (2017) 1, pp. 129-142

This study examines the actual funding behavior of German innovative firms in the pre- and post-crisis period. Specifically, we investigate if and how the funding patterns and financial constraints of German small and medium enterprises (SME) changed during and since the financial crisis. The...

Persistent link: https://www.econbiz.de/10011916059

The impact of institutions on bank governance and stability : evidence from African countries

Mutarindwa, Samuel; Schäfer, Dorothea; Stephan, Andreas - 2018

This paper sheds new light on how African countries’ legal systems and institutions influence the governance and stability of their banks. We find that institutional factors, in particular the legal family of origin, political stability, contract enforcement and strength of investor protection...

Persistent link: https://www.econbiz.de/10011865442

Corporate debt maturity choice in transition financial markets

Stephan, Andreas (contributor); … - 2008

firm value maximization that describes managers' choice of optimal debt structure. The theoretical predictions are tested … addition, we find that companies do not react uniformly to determinants of debt maturity. Firms that mainly rely on external … funds are sensitive to signaling and they consider the variability of firm value an important determinant of their debt …

Persistent link: https://www.econbiz.de/10003726062

Innovation capabilities and financing constraints of family firms

Schäfer, Dorothea; Stephan, Andreas; Solórzano … - 2015

Using the 2007 Mannheim innovation survey, we investigate whether family firms are more financially constrained than other firms and how this affects both innovation input as well as innovation outcomes such as market and firm novelties or process innovations. Based on the CDM framework,...

Persistent link: https://www.econbiz.de/10011411513

Green bonds' reputation effect and its impact on the financing costs of the real estate sector

Petreski, Aleksandar; Schäfer, Dorothea; Stephan, Andreas - 2022

This paper explores the effect of a firm's reputation of being a green bond issuer on its financing costs. Using a sample of 73 listed Swedish real estate companies issuing in total about 1500 bonds over the period from 2011 till 2021, differencein- difference analyses and instrumental variable...

Persistent link: https://www.econbiz.de/10013414155

Green bonds' reputation effect and its impact on the financing costs of the real estate sector

Petreski, Aleksandar; Schäfer, Dorothea; Stephan, Andreas - 2022

Persistent link: https://www.econbiz.de/10013399815

Legal history, institutions and banking system development in Africa

Mutarindwa, Samuel; Schäfer, Dorothea; Stephan, Andreas - 2020

This paper links banking systems development to the colonial and legal history of African countries. Specifically, we investigate the impact of differing legal traditions on the development of existing investor and creditor protection, and on African banking systems. Based on a sample of 40...

Persistent link: https://www.econbiz.de/10012140176

Legal history, institutions and banking system development in Africa

Mutarindwa, Samuel; Schäfer, Dorothea; Stephan, Andreas - 2020

Persistent link: https://www.econbiz.de/10012146945

Differences in African banking systems : causes and consequences

Mutarindwa, Samuel; Schäfer, Dorothea; Stephan, Andreas - 2021

This paper links banking system development to the colonial and legal history of African countries. Based on a sample of 40 African countries from 2000 to 2018, our empirical findings show a significant dependence of current financial institutions on the inherited legal origin and the...

Persistent link: https://www.econbiz.de/10012430264

Market efficiency and limits to arbitrage : evidence from the Volkswagen short squeeze

Allen, Franklin; Haas, Marlene; Nowak, Eric; Tengulov, Angel - 2018

On October 26, 2008, Porsche announced a largely unexpected domination plan for Volkswagen. The resulting short squeeze in Volkswagen's stock briefly made it the most valuable listed company in the world. We argue that this was a manipulation designed to save Porsche from insolvency and the...

Persistent link: https://www.econbiz.de/10011875647