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Many researchers claim that the German universal banks' great influence in corporate control is harmful, since these banks are often both debt holders and equity owners of the firm. However, in this paper I argue differently. Analyzing the banks' role as investors, I find that, due to...
Persistent link: https://www.econbiz.de/10011488554
The paper investigates how Private Equity (PE) ownership influences out-performance of a high-growth firm, and whether it differs from the effect of two other important types of financial investors: banks and non-bank financial firms. We transform the levered return on equity into a unlevered...
Persistent link: https://www.econbiz.de/10011389270
Many researchers claim that the German universal banks’ great influence in corporate control is harmful, since these banks are often both debt holders and equity owners of the firm. However, in this paper I argue differently. Analyzing the banks’ role as investors, I find that, due to...
Persistent link: https://www.econbiz.de/10011480365
Das Verschuldungsverhalten der privaten Haushalte in Deutschland hat sich durch die jüngste Finanz- und Wirtschaftskrise nicht wesentlich geändert. Der Anteil von Haushalten mit Konsumenten- oder Immobilienkrediten war 2009 niedriger als während der "Dotcom-Krise" um die Jahrtausendwende, und...
Persistent link: https://www.econbiz.de/10009371757
With banking sectors worldwide still suffering from the effects of the financial crisis, public discussion of plans to place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how governments can efficiently relieve ailing banks from toxic...
Persistent link: https://www.econbiz.de/10010661264
Since the summer of 2007, participants in financial markets have been confronted by a crisis of their own making. In order to prevent the recurrence of a similar crisis in the future, the G-20 nations, at their finance summit in Washington on 15 November 2008, resolved to "ensure that all...
Persistent link: https://www.econbiz.de/10010661277
One of the most pressing public priorities in Germany at present is how to organize the energy transition. However, the cost of stabilizing the financial sector as well as the fiscal pact and the debt brake mean that the government has limited financial resources. Consequently, the availability...
Persistent link: https://www.econbiz.de/10011128068
The sustainability of the financial markets is a requirement that has only appeared on the economic policy agenda very recently, whereas a stable financial system has been a declared goal for decades. The relationship between sustainability and stability is, however, still unclear. The two terms...
Persistent link: https://www.econbiz.de/10011128072
Many banks are now too big, complex, and closely interconnected to be liquidated. When they run into difficulties, they threaten the entire financial system of their economic area. Five years of financial crisis have not alleviated but exacerbated this problem. The cost of stabilizing banks is...
Persistent link: https://www.econbiz.de/10011128079
With banking sectors worldwide still suffering from the effects of the financial crisis, public discussion of plans to place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how governments can efficiently relieve ailing banks from toxic...
Persistent link: https://www.econbiz.de/10011128096