We test whether firms with a single bank are better shielded from loss of credit and investment cutsin periods of adverse cash flow shocks than firms with multiple bank relationships. Our estimatesof the cash flow sensitivity of investment show that both types of firms are equally subject...

Government policy emphasises five ‘drivers’ of productivity: competition, enterprise, innovation, investment and skillsand each of these has been the subject of major programmes of reform (HM Treasury, 2006). Despite this, andnotwithstanding some improvement, UK productivity in terms of output...

Die sich verändernde Altersstruktur in Deutschland bedingt eine Veränderung der Finanzierungsmodalitätenim deutschen Gesundheitswesen. Ein Schritt dazu ist die Einführung derFallpauschalen (englisch DRG: Diagnosis Related Groups) zur Entlohnung von stationärenLeistungen. Allgemein wird...

This study explores individual and country-level environmental drivers of informal “seed” investment. We examine four types of informal investors based on business ownership experience (or no such experience) and close family relationship with investee (or no such relationship): “classic love...

The Small Business Service (SBS) commissioned York Consulting Limited(YCL) to carry out an early assessment of the Company Rescue Schemepilots.Concerns have been expressed that a large number of small firms capable ofbeing turned around are being wound up unnecessarily due to a lack...

Im Rahmen der „Vorlage des Verwaltungsausschusses vom 01.11.2006, VD Nr.DSIV/1897 zur Umsetzung des mittelfristigen Haushaltskonzeptes 2006-2009, Detailanalyseund Handlungsempfehlungen zum Umgang mit ausgewählten Beteiligungen“wird die Stadt Leipzig, als alleinige Gesellschafterin der LVV...

This paper analyzes the problem of deriving predictions, regarding supply behavior of acompetitive firm, from prior consistency postulates about input-output choices made by such afirm. It extends the literature by introducing a consistency postulate for firm choice, which isweaker than...

In this paper we investigate the status quo of regulation for Microfinance Institutions (MFIs) inGermany. A short presentation of the legal framework is followed by a detailed account of thepractical implications for the lending design that MFIs face. Five different models of loan extensionare...