This paper studies customer loyalty during aggregate downturns. Exploiting a French reform that restricted trade credit supply as a liquidity shock, we show that liquidity-constrained firms export 4 to 7% less after the 2008-9 trade collapse. Consistent with liquidity-constrained firms investing...

Der Bremer Wirtschaftsprofessor (als Herausgeber: "Brauchen wir eine andere Wirtschaft?", BA 1/02) ist Mitglied der "Arbeitsgruppe Alternative Wirtschaftspolitik" und Vertreter einer ganzheitlichen ökonomischen Theorie, die - im Gegensatz zum Neoliberalismus - Sozialpolitik und Ökologie...

In this study, we investigate the BTC price time-series (17 August 2010 – 27 June 2021) and show that the 2017 pricing episode is not unique. We describe at least ten new events, which occurred since 2010-2011 and span more than five orders of price magnitudes ($US 1 – $US 60k). We find that...

Purpose: The value of relationship building is well documented in the literature, where a number of benefits seem to accrue for both interacting parties. This is also the case for Bank-SME relationships. However, the recent financial crisis is expected to have a significant impact on the...