Should the European Union grant state aid through an institution like the European Investment bank? This paper evaluates the efficiency of different measures for granting state aid. We use a theoretical model with firms that differ in their creditworthiness and compare different types of...

Korruption ist eine ernste und komplexe Herausforderung für moderne Gesellschaften. Korruptionsprävention erfordert daher konstruktive Lernprozesse. In diesem Beitrag wird ein ordonomisches Orientierungsangebot entwickelt, das die Wirtschafts- und Unternehmensethik systematisch miteinander in...

The paper proposes a theory of the anti-competitive effects of debt finance based on the interaction between capital structure, managerial incentives, and firms' ability to sustain collusive agreements. It shows that shareholders' commitments that reduce conflicts with debtholders such as hiring...

Should the European Union grant state aid through an institution like the European Investment bank? This paper evaluates the efficiency of different measures for granting state aid. We use a theoretical model with firms that differ in their creditworthiness and compare different types of...