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DAXplus family: Ein Aktienindex zur Darstellung der Performance von Familienunternehmen
Achleitner, Ann-Kristin; Kaserer, Christoph; Kauf, Tobias; … - 2010
In January 2010 the Deutsche Börse Group introduced two family firm stock indices. Both indices are calculated as price and performance indices and extend the number of investment strategy indices of Deutsche Börse Group. The DAXplus Family is an all-share index whereas the DAXplus Family 30...
Persistent link: https://www.econbiz.de/10010305712
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Control transfers in corporate Germany: their frequency, causes and consequences
Köke, Jens - 2000
This study examines changes in block ownership for a large sample of listed and non-listed German firms. The frequency of block trading is similar to other countries, and the vast majority of block trades leads to changes in ultimate ownership (control transfers). Such changes are more likely...
Persistent link: https://www.econbiz.de/10010297730
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Determinants of acquisition and failure: stylized facts and lessons for empirical studies
Köke, Jens - 2001
This study provides new stylized facts on the determinants of corporate failure and acquisition in Germany. It also …
Persistent link: https://www.econbiz.de/10010297767
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Dynamics in ownership and firm survival: evidence from corporate Germany
Heiss, Florian; Köke, Jens - 2001
This study investigates the determinants of changes in corporate ownership and firm failure, taking into account different types of sellers and buyers of control blocks. For a large panel of German corporations we find that firms are more likely to fail or to be sold when performance is poor,...
Persistent link: https://www.econbiz.de/10010297800
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The German entrepreneurial index (GEX®): a primer on an ownership-based style index in Germany
Achleitner, Ann-Kristin; Kaserer, Christoph; … - 2009
Recent research indicates that the majority of listed firms in Germany (and also in many other countries around the … world) have a dominant owner rather than being widely-held. Hence, owner-dominated firms comprise an important subset of … listed companies. This article introduces the concept of an ownership-based style index of listed firms in Germany, the …
Persistent link: https://www.econbiz.de/10010305735
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Structure and determinants of financial covenants in leveraged buyouts - evidence from an economy with strong creditor rights
Achleitner, Ann-Kristin; Braun, Reiner; Tappeiner, Florian - 2009
during this period. We consider Germany to be a superior institutional context as creditors have substantial rights in case …
Persistent link: https://www.econbiz.de/10010305733
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Capital structure decisions in family firms: empirical evidence from a bank-based economy
Ampenberger, Markus; Schmid, Thomas; Achleitner, Ann-Kristin - 2009
, Germany provides a very fruitful research environment as it (i) traditionally has a bank-based financial system and (ii …
Persistent link: https://www.econbiz.de/10010305690
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Controlling shareholders and payout policy: do founding families have a special 'taste for dividends'?
Schmid, Thomas; Ampenberger, Markus; Kaserer, Christoph; … - 2010
Around the world (with the U.S. and U.K. as exceptions) concentrated ownership structures and controlling shareholders … 1995 to 2006 period from Germany, an economy that is traditionally characterized by concentrated ownership structures and … strong family capitalism. We find that family firms exhibit a higher propensity and level for both dividend payments and …
Persistent link: https://www.econbiz.de/10010305703
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Does Culture Affect Corporate Governance?
Gantenbein, Pascal; Volonté, Christophe - 2012
The legal environment is one important determinant of corporate governance. However, within legal families, also cultural differences can explain the level of corporate governance to some extent. We analyze this relationship for the case of Switzerland. Swiss firms are mainly located in two...
Persistent link: https://www.econbiz.de/10011390668
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On the relevance of ownership structure in determining the maturity of debt
Marchica, Maria - 2008
I show that ownership by blockholding and board composition is an important determinant of corporate debt maturity structure. Using GMM methodology to control for the potential endogeneity of all regressors, I find a statistically and economically significant negative relation between shortterm...
Persistent link: https://www.econbiz.de/10010277921