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Determinants and consequences of the unification of dual-class shares
Pajuste, Anete - 2005
This paper explores the reasons why an increasing number of firms in continental Europe are unifying their shares into a single class, and analyzes the consequences of this restructuring. Interestingly, recent changes in corporate governance environment have created a situation when the reasons...
Persistent link: https://www.econbiz.de/10011604511
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Country and industry equity risk premia in the euro area: an intertemporal approach
Cappiello, Lorenzo; Lo Duca, Marco; Maddaloni, Angela - 2008
This paper provides new evidence on the dynamics of equity risk premia in euro area stock markets across country and industry portfolios. We develop and estimate a conditional intertemporal CAPM where returns on aggregate euro area, country and industry portfolios depend on the market risk as...
Persistent link: https://www.econbiz.de/10011604959
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Die Privatisierung der Bahn: »Volksaktie« oder »normaler« Börsengang?
Ehlers, Dirk; Wiesheu, Otto; Aberle, Gerd; Friedrich, … - In: ifo Schnelldienst 60 (2007) 22, pp. 3-22
Die Deutsche Bahn AG, derzeit ein dem Bund gehörender Konzern, soll zumindest teilweise privatisiert werden. Darin sind … sie einer kritischen Betrachtung. Er hält fest, dass die vom Gesetzgeber bisher verfolgte Strategie, die DB AG unter … ausgegeben, und es kann sichergestellt werden, dass das Stimmrecht nicht wieder auflebt. Für Otto Wiesheu, Deutsche Bahn AG, wird …
Persistent link: https://www.econbiz.de/10011692704
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Stock picking via nonsymmetrically pruned binary decision trees
Andriyashin, Anton - 2008
Stock picking is the field of financial analysis that is of particular interest for many professional investors and researchers. In this study stock picking is implemented via binary classification trees. Optimal tree size is believed to be the crucial factor in forecasting performance of the...
Persistent link: https://www.econbiz.de/10010263732
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Measurement matters: Input price proxies and bank efficiency in Germany
Koetter, Michael - 2005
Most bank efficiency studies that use stochastic frontier analysis (SFA) employ each bank's own implicit input price when estimating efficient frontiers. But the theoretical foundation of most studies is a cost minimisation and/ or profit maximisation problem assuming perfect input markets. At...
Persistent link: https://www.econbiz.de/10010295894
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Diversification and the banks' risk-return-characteristics: evidence from loan portfolios of German banks
Behr, Andreas; Kamp, Andreas; Memmel, Christoph; … - 2007
Banks face a tradeoff between diversifying and focusing their loan portfolio. In this paper we carry out an empirical study for the German market to shed light on the question whether or not the benefits of risk sharing outweigh those of specialization. We use data from the Bundesbank's...
Persistent link: https://www.econbiz.de/10010295924
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Die Zyklik der Profite in der Ernährungswirtschaft: Ein internationaler Vergleich.
Koerner, Julia; Weiss, Christoph R. - 2001
der Profite verschiedener Branchen der Ernährungswirtschaft in Deutschland, den USA sowie den Niederlanden. Aus der … prozyklische Schwankungen der Profite in Deutschland in hochkonzentrierten Branchen, während das Ausmaß der Schwankungen in … Branchen mit niedriger Konzentration in Deutschland sowie in sämtlichen Branchen der USA gering ist. Die Beobachtungen für …
Persistent link: https://www.econbiz.de/10010297118
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Determinanten und Zyklik der Profite im produzierenden Ernährungsgewerbe Deutschlands
Weiss, Christoph R. - 1999
Persistent link: https://www.econbiz.de/10010300794
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Zusammenhang zwischen Gewinnen und Investitionen gelockert
Hinze, Jörg; Kirchesch, Kai - In: Wirtschaftsdienst 79 (1999) 11, pp. 677-682
Persistent link: https://www.econbiz.de/10010301858
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Does IT standardization help to boost cost and profit efficiency? Empirical evidence from German savings banks
Noth, Felix; Slotty, Constantin; Hackethal, Andreas - 2009
This paper investigates the impact of IT standardization on bank performance based on a panel of 457 German savings banks over the period from 1996 to 2006. We measure IT standardization as the fraction of IT expenses for centralized services over banks' total IT expenses. Bank efficiency, in...
Persistent link: https://www.econbiz.de/10010271461