German Abstract: Die europäische Integration und die Einführung der Wirtschafts- und Währungsunion brachten Österreichs Unternehmen einerseits geringere Finanzierungskosten, andererseits höheren Wettbewerbsdruck. Die vorliegende Studie hat zum Ziel, zu untersuchen, wie sich die...

This paper tests for the existence of market power in banking, using data on demand deposit rates of households and corresponding market rates in five euro area countries. An implicit measure for market power is based on a partial adjustment model that also allows for an asymmetric response of...

In a Stackelberg oligopoly with cost asymmetry and possibility of entry, the Stackelberg leader faces a kinked demand curve. For a robust interval of cost of the leader, the equilibrium price is rigid with respect to small changes in demand and costs of active firms

Can policymakers improve macroeconomic performance by encouraging the entry of high‑performance start‑ups? To answer this question, we construct a novel and comprehensive data set on 1.3 million start‑ups in 10 European countries. We apply cluster analysis to identify distinct start‑up...

Using a data set of the firms listed on the Neuer Markt in Germany, this paper demonstrates that venture backed firms differ from firms with other financial resources, especially debt. Thus, the results of this study provide evidence for the hypothesis that small and innovative firms are more...

We study the implications of ownership and its induced incentives on firm survival on the stock market for young and high-tech firms. Using a unique data set of all 341 firms listed on the Neuer Markt, the German counterpart of the NASDAQ, our results differ from studies on more traditional...