Wir analysieren die Determinanten der Zuschauernachfrage in der Fußballbundesliga in den Saisonen 2001/02 bis 2004/05, d.h. für insgesamt 1224 Spiele. Dafür spezifizieren wir ein ökonometrisches Modell, das die begrenzte Kapazität der Stadien und Heteroskedastizität berücksichtigt. Es...

Credit Spreads and their Determinants: An Empirical Analysis for Germany Analyses of credit spreads, i. e. the difference between the returns on corporate loans and on no-risk investments for periods equivalent in length, can provide useful information to both business managers and to external...

Für Unternehmen kann die Analyse von Credit Spreads, d.h. der Differenz zwischen den Renditen von Unternehmensanleihen und laufzeitäquivalenten risikolosen Anlagen, nützliche Informationen erbringen, da sich Veränderungen im Credit Spread auf ihre Finanzierungskonditionen auswirkt. Prof. Dr....

Banks have always played an ambivalent role in financial markets. On the one hand, they provide essential services for the market; on the other hand, problems in the banking sector can send shock waves through the entire economy. Given this prominent role, it is not surprising that Pereira and...

The popularity of sustainable investments is unbroken and attracts investors and researchers alike. Modelling the properties of such 'green' firms, Pástor, Stambaugh, and Taylor 2021 consider a hedge against climate risks in their theoretical model. Likewise, it could be assumed that companies...

We examine the impact of the European Central Bank's monetary policy on the euro area labor markets over the period 2010-2018. Using Jordà's (2005) local projection method, we find that unemployment rates decline in response to expansionary monetary policy surprises that can be related to...

Sustainable investments remain popular, attracting investors and researchers alike. Especially the tail-risk properties seem to differ between sustainable stocks and common stocks. Empirically, this can be observed in particular during extreme events. On February 24, 2022 Russian forces invaded...

This paper presents a micro data approach to the identification of credit crunches. Using a survey among German firms which regularly queries the firms' assessment of the current willingness of banks to extend credit we estimate the probability of a restrictive credit supply policy by time...

In the literature there are basically two main approaches that explain the positive link between the level of education and wages: the human-capital theory and the signalling/screening (collectively known as sorting) theory. We highlight the similarity and differences between these theories and...