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IPOs, the Level of Private Equity Engagement and Stock Performance Matters : Empirical Evidence from Germany
Oehler, Andreas - 2017
Research on IPOs commonly focuses on the relation between firms' pre IPO ownership structure and subsequent stock performance. We extend the literature by additionally focusing on companies' post IPO ownership structure, in particular private equity capital engagement, to analyze IPOs stock...
Persistent link: https://www.econbiz.de/10012968834
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Corporate governance and CEO turnover decisions
Dimopoulos, Theodosios; Wagner, Hannes - 2012 - This version: March 2012
effective in delivering performance improvements, and whether better governance improves credibility and effectiveness of CEO … also find both relations to be virtually identical in both countries, despite large structural governance differences …. Further, we consider a large number of firm-specific governance mechanisms previously proposed as indicators of better …
Persistent link: https://www.econbiz.de/10009558377
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The drivers and implications of business divestiture: an application and extension of prior findings
Decker, Carolin; Mellewigt, Thomas - 2007
business exit, otherwise it is a status quopreserving business exit. The motives for divestiture specified in prior studies are … choice between strategic and status quo-preserving business exit with secondary data on 213 divestitures during 1999 … firm financial performance is a stronger predictor of strategic business exit than corporate strategy. …
Persistent link: https://www.econbiz.de/10010263702
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Bad bank(s) and recapitalization of the banking sector
Schäfer, Dorothea; Zimmermann, Klaus F. - 2009
With banking sectors worldwide still suffering from the effects of the financial crisis, public discussion of plans to place toxic assets in one or more bad banks has gained steam in recent weeks. The following paper presents a plan how governments can efficiently relieve ailing banks from toxic...
Persistent link: https://www.econbiz.de/10010291776
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Consumption, wealth and business cycles: why is Germany different?
Hamburg, Britta; Hoffmann, Mathias; Keller, Joachim - 2005
This paper studies the long-run relationship between consumption, asset wealth and income - the consumption-wealth ratio - in Germany, based on data from 1980 to 2003. Earlier papers for the Anglo-Saxon economies have documented that departures of these three variables from their common trend...
Persistent link: https://www.econbiz.de/10010295684
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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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Time series properties of a rating system based on financial ratios
Krüger, Ulrich; Stötzel, Martin; Trück, Stefan - 2005
This paper provides an overview on classical and new methods for testing time series properties of migration matrices. It is well known that due to cyclical behaviour of the economy transition matrices for many credit portfolios cannot be considered to be constant through time. Further,...
Persistent link: https://www.econbiz.de/10010295907
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Integrated Financial Supervision in Germany
Schüler, Martin - 2004
With the establishment of the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in May 2002 Germany followed the trend towards integrated financial supervision. The main reason for unification of supervision is the growing integration of financial sectors leading to the blurring of...
Persistent link: https://www.econbiz.de/10010297360
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Zur Rolle von Beteiligungskapitalgebern in ihren Portfoliounternehmen: Eine ökonometrische Analyse
Engel, Dirk - 2002
Der deutsche Markt für Beteiligungskapital ist ein vergleichsweise junger Markt, so dass nur wenig Wissen bezüglich der Qualität der von den VCG geleisteten Managementunterstützung besteht. Ziel der Studie ist es, den Beitrag der VCG zum Wachstum und Überleben ihrer Portfoliounternehmen...
Persistent link: https://www.econbiz.de/10010297897
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Sturm und Drang in money market funds: when money market funds cease to be narrow
Jank, Stephan; Wedow, Michael - 2008
This paper investigates the returns and flows of German money market funds before and during the liquidity crisis of 2007/2008. The main findings of this paper are: In liquid times money market funds enhanced their returns by investing in less liquid papers. By doing so they outperformed other...
Persistent link: https://www.econbiz.de/10010298776