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We study how generalized trust shapes the ability of firms with different ownership forms to obtain trade financing and perform during a financial crisis. Exploiting geographic variations in trust across Italian regions and the occurrence of the 2008-09 financial crisis in a...
Persistent link: https://www.econbiz.de/10012854297
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stock market performance. We investigate 278 firms listed on the German Stock Exchange in the world financial crisis … years after the beginning of the world financial crisis and in and after the Euro crisis. This implies that family firms …-term orientation and risk aversion of family blockholders, as well as the country-specific corporate governance framework of Germany …
Persistent link: https://www.econbiz.de/10013324264
failed to effectively predict and respond to real-world financial crises? The answer, as this challenging book shows, is that …
Persistent link: https://www.econbiz.de/10012930036
Much has been written about the current crisis in the global financial system, and many thoughtful analyses have examined the causes and consequences of that crisis. This paper joins those analyses that argue that the crisis reveals flaws in the theoretical underpinnings of capital market...
Persistent link: https://www.econbiz.de/10013149795
, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We …
Persistent link: https://www.econbiz.de/10013152303
previous experiences and across countries. We study firm-level decisions in France, Germany, Japan, the UK, and the US. We find … US firms. We argue that differences in firm governance between US firms and firms in Germany and Japan drive these …
Persistent link: https://www.econbiz.de/10012931027
, the Neuer Markt in Germany opened. Six years later, in June 2003, it closed forever. In the interim period lay the …
Persistent link: https://www.econbiz.de/10008653397
Using newly collected data on the ultimate ownership structure of publicly traded firms in nine East Asian economies, we find that family control is negatively related to the dividend payout ratio. Family firms are less (more) likely to increase (omit) dividends than non-family firms. These...
Persistent link: https://www.econbiz.de/10012856800
In this paper, we analyse whether bank owners or bank managers were the driving force behind the risks incurred in the wake of the financial crisis of 2007/2008. We show that owner controlled banks had higher profits in the years before the crisis, and incurred larger losses and were more likely...
Persistent link: https://www.econbiz.de/10003941710