Die vorliegende Studie analysiert die Ergebnisse einer bundesweiten Unternehmensbefragung zum Finanzierungsverhalten deutscher KMU. Im Fokus stehen die Verf?gbarkeit konkreter Finanzierungsinstrumente f?r KMU und deren Akzeptanz im Mittelstand. Dies soll die derzeitigen M?glichkeiten und Grenzen...

This paper analyses in the framework of a 2-region economic geography model the impact of transfers on agglomeration of economic activity. Two main results can be derived: First, subsidies to the activity of firms are more efficient to avoid agglomeration than subsidies to consumers (social...

Our aim is to investigate whether the direct payments and rural development measures of theEU’s Common Agricultural Policy (CAP) do make jobs in agriculture safer. We work with adynamic labour demand equation that is augmented by the full set of policy instruments of theCAP. It is estimated on...

The thesis analyzes monetary and labor policies under different market frictions. In the first part several versions of a microfounded dynamic general equilibrium model with monopolistic competitors in the product and/or labor market are derived and simulated. First of all, the monetary...

Ziel dieser Arbeit war es, Asset Backed Securities anhand der Untersuchung von deren Konstruktionsmerkmalen und derDiskussion über deren potentielle Vor- und Nachteile gegenüber traditionellen Finanzierungsalternativen zu charakterisieren undzu analysieren. Insbesondere sollte ein möglicher...

This thesis explores the economics of corporate investment and investigates how problems of asymmetric information and strategic interaction influence the efficiency of investment behavior. I present theoretical work and empirical results from a survey of European chief financial executives.

We present empirical evidence on acquirer firms that have violated or are about to violate a loan covenant within four quarters of undergoing an acquisition. We find that firms that violate a covenant within the four quarters before the acquisition announcement have the highest announcement...

In this paper, I investigate the logic behind cross sectional dispersion of firm's capital structure. I incorporate the trade off between tax benefits and financial distress costs into a dynamic general equilibrium model with heterogeneous firms and their endogenous entry/exit, and compute an...

My dissertation aims at understanding the financing and investment decisions of firms. It contains two chapters.Chapter One studies the currency composition of debt for firms in emerging economies. Using a dataset of traded Mexican firms, I document two stylized facts about firms in the...