We empirically examine under what conditions lead financiers decide to finance a buyout through a syndicate of multiple investors and how these syndicates are structured, using a unique dataset of 865 European buyouts during 1999-2009. We rely on a theoretical framework that integrates the...

We develop a model to analyze and to compare the corporate leniency programs in the EU and the USA. Both programs are based on the idea that strategic interactions between the team members can be used to increase expected fines by being generous to self-reporting firms. This is in sharp contrast...

Variations among the diverse pension systems in the member states of the European Union (EU) hamper labor market mobility across national borders and also among firms within the countries of the EU. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues...

Cette étude par ordre de la Gesellschaft für Technische Zusammenarbeit (GTZ) fournit un aperçu préliminaire au sujet de la définition et du système statistique de l'Union Européenne concernant les PME. La définition européenne des PME est examinée en particulier relative à l'inclusion...

Variations between the diverse pension systems in the member states of the European Union hamper labour market mobility, across country borders but also within the countries of the European Union. From a macroeconomic perspective, and in the light of demographic pressure, this paper argues that...

Local governments in New England rely on state aid to finance the provision of essential public services. Yet in response to the recent and ongoing fiscal crisis, state governments across the region have cut local aid deeply, often by the same percentage in each community. This across-the-board...

In the present paper it will be pointed out with a panel data econometric model that government debt puts banking sector at stake since the volume of not performing loans goes up. The estimation of the model is made feasible through the Eviews software package. The present paper is based on...