In the empirical research of economic growth, different kinds of measuring factors (quantitative and qualitative) are used for the measurement of human resources. In this essay, we deal with the question which influence on economic growth the quantitative and qualitative measuring factors of...

In this contribution, we analyze the provision of productive infrastructure goods (e. g. traffic facilities or results of scientific research) in the context of international tax competition for foreign direct investments (FDI). Mostly, these public inputs have two characteristics: on the one...

Purpose – In the recent financial crisis, many observers have assigned monetary policy a central role in the crisis. Specifically, they claim that excessively easy monetary policy by the Federal Reserve in the first half of the decade helped to cause a bubble in housing prices in the USA. The...

Purpose – The purpose of this paper is to study the impact of merger and acquisition (M&A) transactions from private equity and hedge funds. Owing to the recent financial and economic crisis, there is a controversial discussion about the implications of M&As from private equity and hedge...

Excessive risk-taking in the banking industry has led to the default of firms and to increased systemic risks as demonstrated during the previous financial crisis. The causes of this excessive risk taking are numerous and complex. However, it is now consensus that inappropriate remuneration...

Purpose – It is essential for the welfare and growth of a society that it is able to share risk efficiently in the economy. However, extreme events have increased enormously during the last decades, so that catastrophe risks seem to become uninsurable in a free-market economy. With...

The International Accounting Standards Board (IASB, former IASC) has been working on a new international standard for insurance contracts based on fair value for about 10 years now. However, details on how to measure such a value in practice were unclear for a long time. A first indication of...

Considering mixed results of several studies that analyse the influence of total leverage on stock returns, we focus on a more differentiated ratio in our approach: 'total debt to (total capital + long term debt)' [TD/(TC + LTD)] which treats short- and long-term debt differently. In this...

Purpose – The purpose of this paper is to introduce a methodology to evaluate sovereign risk. Hereby, a value-based approach using different market measures is introduced. Design/methodology/approach –This study’s approach aims to provide a value-based assessment of sovereign risk,...

Ein Grund für die Kostenexplosion in der Beamtenversorgung liegt in dem verstärkten Trend zur Frühpensionierung. Um diesem Trend entgegenzuwirken, wurde analog zu der gesetzlichen Rentenversicherung der so genannte Versorgungsabschlag eingeführt. Bei Eintritt in den Ruhestand vor Erreichen...