Showing 1 - 10 of 287
This paper investigates politically connected rms in Germany. With the in-troduction of a new transparency law in 2007, information on additional incomesources for all members of the German parliament became publicly available.We nd that members of the conservative party (CDU/CSU) and the...
Persistent link: https://www.econbiz.de/10005868018
In der Literatur zur Abschlußprüfung ist ein negativer Effekt eines ökonomischen Vorteils aus der wiederholten Mandatsannahme, der aufgrund von Transaktionskosten entsteht, auf die Unabhängigkeit des Abschlußprüfers diskutiert worden. Anders als die bisher vorgestellten Ansätze wird im...
Persistent link: https://www.econbiz.de/10005840363
This paper investigates whether firms employing IAS or US GAAP exhibit measurable differences in proxies for information asymmetry and market liquidity. Sample firms are drawn from the "New Market" at the Frankfurt Stock Exchange. All firms listed in this market segment are required to provide...
Persistent link: https://www.econbiz.de/10005840346
This paper investigates the extent to which voluntary disclosure quality (VDQ) of firms isreflected in equity prices. In environments where we expect informational efficiency to behigh, VDQ is not associated with returns beyond those available through passively investingin popular styles, and a...
Persistent link: https://www.econbiz.de/10009249009
[...]A key finding of our work is that for small auction sizes,TIO interest rates are fairly comparable to MBS repo rates forterm lengths of five days or more. However, shorter termlengths result in the Treasury receiving lower TIO rates relativeto market rates. We also observe a negative...
Persistent link: https://www.econbiz.de/10005869669
Einleitung: In der zweiten Hälfte der neunziger Jahre ist die Verbesserung der CorporateGovernance börsennotierter Gesellschaften zu einem intensiv diskutiertenThema geworden. Im Unterschied zu früheren Debatten, wie sie vor etwazwanzig Jahren anlässlich der Arbeit von Jensen/Meckling (1976)...
Persistent link: https://www.econbiz.de/10005862982
practicesto firm fundamentals. Finally, an investment strategy that boughthigh-CGR firms and shorted low-CGR firms would have …
Persistent link: https://www.econbiz.de/10005863002
What is meant by entrepreneurship, innovation and economic growth is often not clear or very idiosyncratic. This paper starts with a discussion of the nature of entrepreneurship and its relation to innovation. The second section provides an overview of theory and empirical research on the...
Persistent link: https://www.econbiz.de/10005864511
industrialised countries. This paper describes the growth and the investment strategy ofSWFs, the impact of their investments on host …
Persistent link: https://www.econbiz.de/10005866116
investment criterion,which is for example reflected in the emergence of various corporate governance ratings.The authors of this …
Persistent link: https://www.econbiz.de/10005867872